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7.23.26
CMS Proposes Payment Frameworks for “Software as a Medical Service”
On July 2, 2026, the Centers for Medicare and Medicaid Services (CMS) released the calendar year (CY) 2027 Hospital Outpatient Prospective Payment System (OPPS) proposed rule and on July 14, 2026, subsequently released the CY 2027 Physician Fee Schedule (PFS) proposed rule.1 These proposed rules establish a newly named Medicare payment category, Software as a Medical Service (SaMS), for software that supports clinical decision-making through algorithmic analysis.2 This is CMS’ first effort to pay for software-based clinical services in a structural way as their own category rather than as a cost buried inside reimbursement for another procedure. The consequential impact is that CMS would create a new reimbursement vehicle for software and AI-enabled products to be reimbursed as standalone services in the future. The proposal is worth close attention from stakeholders because Medicare reimbursement often determines the success of software or AI products intended for clinical purposes. Comments are due August 31, 2026, on the OPPS rule and September 14, 2026, on the PFS rule.
Client Highlights
7.09.26
Wilson Sonsini Advises Beam Benefits on Acquisition by Principal Financial Group
On July 7, 2026, Principal Financial Group announced an agreement to acquire Beam Benefits, an employee benefits company serving more than 25,000 small businesses. Principal currently serves 180,000 employers, providing comprehensive retirement, benefits, and business owner solutions. The acquisition is expected to close in the latter half of 2026, subject to the completion of customary closing conditions and regulatory approvals. Wilson Sonsini Goodrich & Rosati advised Beam Benefits on the transaction.
Client Highlights
7.01.26
Wilson Sonsini Advises Kai Health on $4.8 Million Seed Round
On June 29, 2026, Kai Health, an AI-powered performance improvement platform for emergency medicine, announced a $4.8 million seed round led by Distributed Ventures. Wilson Sonsini Goodrich & Rosati advised Kai Health on the transaction.
Newsletters
6.23.26
All Eyes on AI: Regulatory, Litigation, and Transactional Developments – Q1 2026
Wilson Sonsini is pleased to present the next edition of All Eyes on AI: Regulatory, Litigation, and Transactional Developments, which closely follows the evolving regulatory landscape for artificial intelligence (AI) in the U.S., new EU regulations for AI, international developments, litigation, recent deal highlights, firm publications, and other AI and machine learning highlights.
Client Highlights
6.18.26
Wilson Sonsini Advises Clair Health on $11.6 Million Seed Round
On June 17, 2026, San Francisco-based Clair Health, a wellness wearable start-up designed to monitor hormones, announced an $11.6 million seed round led by Khosla Ventures, with participation from a16z speedrun, Brydge Club, TreeHub, Cartan Capital, AGI House, Insiders VC, and Anne Wojcicki. Wilson Sonsini Goodrich & Rosati advised Clair Health on the transaction.
Newsletters
6.03.26
The Life Sciences Report – June 2026
This latest edition features articles on accelerating new therapies under the new FDA administration, cash-pay healthcare companies possibly facing kickback and fee-splitting risk under federal and state laws, building in-house legal teams for biotech, digital health, and medical devices companies, and life sciences venture financings for firm clients across 1H2025 and 2H2025.
Client Highlights
6.03.26
Wilson Sonsini Advises Luminopia on Licensing Agreement with ROHTO
On June 2, 2026, Luminopia, Inc., a digital health company pioneering a new class of treatments for neuro-visual disorders, announced its first international licensing agreement with ROHTO Pharmaceutical Co., LTD, a Japanese multinational corporation specializing in consumer products and pharmaceuticals. Wilson Sonsini Goodrich & Rosati advised Luminopia on the transaction.
Client Highlights
4.14.26
Firm Advises Getlabs on Acquisition by Function
On April 8, 2026, Function Health announced it has acquired Getlabs, a leading mobile healthcare platform that brings licensed specialists directly to one's location. The acquisition allows for the continuation of Getlab’s nationwide network of providers, health systems, and partners, while advancing Function's broader commitment to making healthcare more accessible by building experiences around member needs. Wilson Sonsini Goodrich & Rosati advised Getlabs on the transaction.
Client Highlights
4.13.26
Wilson Sonsini Advises Ultralight on $9.3 Million Seed Funding
On April 13, 2026, Ultralight, the AI-native operating system for modern medicine, announced that it has raised $9.3 million in seed funding. The round was led by The General Partnership, with participation from Wisdom Ventures, Anthemis Group, Emerson Collective, GSBackers, and various angel investors. Wilson Sonsini Goodrich & Rosati advised Ultralight on the transaction.
Ultralight’s platform automates busywork, surfaces deep clinical insights, and frees clinicians to practice high-touch medicine. Designed for clinicians who lead functional, integrative, or longevity practices, Ultralight unifies electronic health records, practice management, and patient engagement in one vertical SaaS stack, with powerful AI natively built in.
The Wilson Sonsini team that advised Ultralight on the financing includes Lang Liu and Oliver Zhou.
For more information, please see Ultralight CEO Sunita Mohanty’s LinkedIn post and this Axios article.
Ultralight’s platform automates busywork, surfaces deep clinical insights, and frees clinicians to practice high-touch medicine. Designed for clinicians who lead functional, integrative, or longevity practices, Ultralight unifies electronic health records, practice management, and patient engagement in one vertical SaaS stack, with powerful AI natively built in.
The Wilson Sonsini team that advised Ultralight on the financing includes Lang Liu and Oliver Zhou.
For more information, please see Ultralight CEO Sunita Mohanty’s LinkedIn post and this Axios article.