Raintree, the leading electronic health record (EHR) and practice management platform for rehabilitation and physical therapy organizations, has acquired Spike Technologies, a Lithuanian cofounded developer of genuinely agentic AI voice technology for healthcare.
It marks an important milestone in Raintree’s journey toward fully autonomous revenue cycle management (RCM).
Native to the EMR, the acquisition of Spike helps automate some of the most labor-intensive aspects of revenue cycle management, representing the first and most critical step toward fully autonomous RCM for rehabilitation and physical therapy organizations.
Industry analyses estimate that AI and automation in the revenue cycle could generate up to $360 billion in annual savings. By applying agentic AI voice technology to this administrative burden, Raintree and Spike aim to give healthcare providers back more time to focus on patient care. Practices can expect less manual phone and follow-up work, fewer touches per claim, faster reimbursement cycles, and more time for clinicians and staff to focus on patients.
TEGOS acted as Lithuanian legal counsel to Raintree, advising on all Lithuanian law related aspects of the acquisition, including due diligence, advice on transaction structure and transaction documentation, employees’ stock option and other employment and tax matters. The TEGOS team consisted of Ieva Povilaitienė, Indrė Vickaitė-Liatukė, Loreta Antanaitienė, Patricija Julija Nedveckytė, and Meda Stankutė.
