The Deal
HONOLULU — Motivity said on May 22 that it has signed a definitive agreement to acquire Calmanac, folding the practice management platform fully inside the clinical data company it has co-marketed with for the past two years. Deal terms were not disclosed.
The transaction completes a convergence Motivity has been signaling publicly since April 2025, when the company announced it was expanding into practice management with Calmanac’s system as the foundation. What was framed at the time as a partnership is now an acquisition. Calmanac co-founder Madhuri Mandaogade joins Motivity as General Manager, leading practice management product vision and the company’s India operations. Her co-founder, Neelam Chavan, becomes Chief Technology Officer across Motivity Engineering.
For Motivity, the deal arrives 14 months after a $27 million growth investment from Five Elms Capital in March 2025, the round that installed Smith Anderson, a Five Elms Operating Partner, as chief executive. Founder Rex Jakobovits stayed on as Chief of Strategy and Innovation. The Calmanac purchase is the first significant move under the new capital structure.
From Integration to Full Ownership

Motivity and Calmanac began integrating in 2023, per Motivity’s own account, and launched the partnership publicly in March 2024, connecting Motivity’s session-level data collection to Calmanac’s scheduling, authorization, and billing layer. The integration gave shared customers a bridge between clinical work and the back office, but it left both companies dependent on each other’s product roadmaps and price moves.
The April 2025 product expansion changed that. Motivity began selling a single all-in-one offering with Calmanac’s practice management built in. Customers buying Motivity Practice Management at that point were already on Calmanac, even if the brand on the invoice said Motivity. The current deal removes the dotted line between the two companies and the two contracts behind it.
“Motivity has spent more than a decade earning the trust of ABA clinicians. That trust was built on one commitment: that we would never compromise clinical integrity for the sake of convenience.” — Smith Anderson, CEO, Motivity (May 22, 2026)
The pattern of integration-to-acquisition is familiar in vertical software. What is less common in ABA tech specifically is for a clinical-side platform to absorb its operational counterpart, rather than the other way around. Most consolidation in the category so far has run through CentralReach, which sells the operational and clinical stack as a single product to roughly 4,000 provider organizations and 200,000 professionals globally.
What Calmanac Was Built For
Calmanac’s origin is the part of this story that matters most to operators evaluating the combined platform. The system was not built for the long tail of small practices and then stretched upward as customers grew. It was built, per Smith Anderson, to support the Center for Autism and Related Disorders (CARD) under Dr. Doreen Granpeesheh’s leadership, a multi-state operator with hundreds of payer relationships, after that provider concluded no existing platform could handle its scale. CARD’s relationship with the platform predates its 2023 bankruptcy auction and the founder’s return to lead the company in August 2023, an unusually demanding test bed for any vendor.
The architecture Motivity now owns reflects that origin. Calmanac’s scheduler enforces credential, authorization, and clinical-appropriateness rules at the assignment layer rather than as downstream warnings. Billing logic incorporates payer-specific compliance from the outset. Cross-departmental data flows are designed for organizations where intake, clinical, billing, and HR all touch the same authorization. That is enterprise infrastructure dressed as a startup product, and it is now Motivity’s primary differentiation against CentralReach for multi-site practices.
The combined company also takes on a cross-border engineering footprint. Mandaogade and Chavan co-founded Calmanac’s parent company, Humane Business Intelligence Technology Solutions (hBITS), and the development team they built sits in India. Mandaogade will continue to oversee that team as General Manager, while Chavan steps into a CTO role spanning all of Motivity Engineering.
What Changes for Practice Owners
For practices already running both products, the day-to-day workflow does not change. The combined company has said the platform and support relationships continue. For practices running Motivity for clinical data and a third-party practice management system, the option to consolidate to one vendor becomes easier to justify. For practices running CentralReach end to end, the deal sharpens the choice between an integrated incumbent and an integrated challenger.
The harder question is what the deal means for vendor pricing power. ABA practice management is already a concentrated market. Calmanac’s independent presence, even as a co-marketed Motivity partner, gave operators a credible threat in renewal conversations: switch to the standalone version, leave the bundle. That option is gone. Motivity now sells the full stack, and what was negotiating leverage becomes a single line on a single invoice.
Switching costs in ABA software run higher than in most vertical SaaS. Session-level data, authorization histories, payer credentialing files, RBT supervision logs, and three years of clinical notes do not migrate cleanly between platforms. Industry vendor-transition guides typically describe a multi-month period of degraded reporting and dual-entry workflows before a clinic lands cleanly on a new system. Vendor concentration matters more in markets where exit is expensive.
The Calmanac deal removes one of the last independent practice management options purpose-built for ABA. For multi-site operators, the choice of vendors is narrower today than it was on May 21.
The Vendor Map After the Deal
The competitive map looks different than it did 12 months ago. CentralReach, which by its CEO’s account has made 14 strategic acquisitions over roughly six years, agreed in March 2025 to be acquired by Roper Technologies for $1.65 billion, the largest publicly disclosed transaction in ABA software to date. The deal closed on April 23, 2025. Roper said CentralReach would contribute roughly $175 million in revenue and $75 million in EBITDA over the 12 months ending June 30, 2026. CentralReach reports more than 200,000 professionals on its platform. Rethink Behavioral Health, a division of RethinkFirst, sits adjacent to the ABA-specific players, with its parent company’s broader behavioral-health, education, and employer footprints providing cross-sell reach that pure-play ABA vendors lack. Smaller players, Theralytics, Raven Health, Passage Health, and a long tail of regional platforms, compete on price and verticalized features.
Motivity, with Calmanac now folded in, is the largest clinical-first challenger to CentralReach in the ABA category. The capital scale of the two camps is different. Roper paid $1.65 billion to add CentralReach; Five Elms backed Motivity with $27 million 12 months earlier. Whether Motivity stays independent is a separate question. The Five Elms round in March 2025 was structured as a growth investment, not a buyout. Five Elms, with more than $3 billion in assets under management, holds more than 40 active software companies in its current portfolio and has invested in 70-plus software platforms across its history. The next valuation milestone, and the next test of whether Motivity remains independent, comes when the combined company reaches the scale at which a strategic acquirer or a larger sponsor takes interest.
For now, the message to operators is more immediate. The two-vendor workaround that defined ABA software stacks for a decade is being replaced by one-vendor offerings. The companies that built clinical and operational tools separately are merging. The customer who once balanced one against the other has fewer balances to strike.
What to Watch
Motivity has not disclosed deal terms. The combined company’s first product roadmap update is expected in the second half of 2026. Two questions will decide whether the acquisition delivers what the press release promises. The first is whether the integrated platform retains feature parity for both legacy customer bases through the migration window. The second is whether pricing on the all-in-one bundle holds at or below the sum of the prior two contracts, or rises with the consolidation.
A definitive answer on the first will arrive in renewal cycles starting in Q3 2026. The second will be visible in the contract terms Motivity offers Calmanac customers as their existing agreements roll. Operators with renewals dated before October should ask for the bundle pricing in writing now.
AT A GLANCE
| Announcement date: | May 22, 2026 (Motivity press release, PR Newswire) |
| Deal value: | Not disclosed |
| Acquirer: | Motivity, Honolulu, founded 2012 by Rex Jakobovits, PhD |
| Target: | Calmanac, ABA practice management platform built by hBITS |
| Integration history: | 2023 technical integration; March 2024 public partnership launch; April 2025 all-in-one product launch; May 2026 definitive agreement |
| Motivity CEO: | Smith Anderson, former Five Elms Capital Operating Partner, CEO since March 2025 |
| Founder transition: | Rex Jakobovits, PhD, now Chief of Strategy and Innovation |
| Calmanac founders: | Madhuri Mandaogade (co-founder), now General Manager, Motivity; Neelam Chavan (co-founder), now CTO, Motivity Engineering |
| Origin customer: | Center for Autism and Related Disorders (CARD), per Motivity CEO interview with Acuity Media Network |
| Motivity backing: | $27 million growth investment from Five Elms Capital, March 12, 2025 |
| Motivity R&D base: | $11 million in cumulative NIH research funding (Motivity press releases, 2025-2026) |
| Motivity reach: | 800+ organizations worldwide (Motivity acquisition press release, May 22, 2026) |
| CentralReach + Roper, for context: | $1.65 billion definitive agreement March 24, 2025; closed April 23, 2025; 200,000+ professionals on platform |
SOURCES & REFERENCES
| 1. | Motivity. “Motivity Signs Definitive Agreement to Acquire Calmanac, Taking Full Ownership of the ABA Stack It Has Been Building.” PR Newswire. May 22, 2026. https://www.prnewswire.com/news-releases/motivity-signs-definitive-agreement-to-acquire-calmanac-taking-full-ownership-of-the-aba-stack-it-has-been-building-302780301.html |
| 2. | Acuity Media Network (Ethan Webb). “Motivity Acquires Calmanac, Unifying Clinical Data Collection and Operations on a Single Autism Therapy Platform.” May 23, 2026. https://acuity.news/m-and-a/motivity-acquires-calmanac-bringing-aba-practice-management-fully-in-house-the-deal-unifies-clinical-data-collection-and-operations-on-a-single-autism-therapy-platform/ |
| 3. | Motivity. “Motivity Expands Into Practice Management with a Comprehensive All-in-One ABA Solution.” PR Newswire. April 8, 2025. https://www.prnewswire.com/news-releases/motivity-expands-into-practice-management-with-a-comprehensive-all-in-one-aba-solution-302422708.html |
| 4. | Motivity. “Revolutionize ABA Therapy with the Motivity Calmanac Integration.” PRWeb. March 29, 2024. https://www.prweb.com/releases/revolutionize-aba-therapy-with-the-motivity-calmanac-integration-302102183.html |
| 5. | Motivity. “Motivity Announces $27M Growth Investment from Five Elms Capital to Advance Innovation and Scale Operations.” PR Newswire. March 12, 2025. https://www.prnewswire.com/news-releases/motivity-announces-27m-growth-investment-from-five-elms-capital-to-advance-innovation-and-scale-operations-302399232.html |
| 6. | Five Elms Capital. “Motivity Announces $27M Growth Investment from Five Elms Capital.” March 12, 2025. https://www.fiveelms.com/motivity-announces-27m-growth-investment-from-five-elms-capital-to-advance-innovation-and-scale-operations/ |
| 7. | Five Elms Capital. Portfolio page (active and exited holdings count). https://www.fiveelms.com/portfolio/ |
| 8. | Behavioral Health Business. “ABA Software Startup Motivity Raises $27M.” March 17, 2025. https://bhbusiness.com/2025/03/17/aba-software-startup-motivity-raises-27m/ |
| 9. | CentralReach. “ABA Practice Management Software” product page, 2026 (4,000+ providers, 200,000+ professionals figures). https://centralreach.com/products/aba-practice-management-software/ |
| 10. | Insights Success. “Madhuri Mandaogade: Bridging Between Behavioural Healthcare & Tech.” 2020 (CARD employment background; hBITS co-founding with Neelam Chavan). https://www.insightssuccess.in/madhuri-mandaogade-bridging-the-gap-between-behavioural-healthcare-and-technology/ |
| 11. | Calmanac. “Compliance-Based ABA Practice Management Software.” Product page, 2026. https://www.calmanac.net/ |
| 12. | Motivity. “Calmanac Integration Partner” product page, 2025. https://www.motivity.net/integration-partners/calmanac |
| 13. | Roper Technologies. “Roper Technologies to acquire CentralReach.” Press release, March 24, 2025. https://www.ropertech.com/news-releases/news-release-details/roper-technologies-acquire-centralreach |
| 14. | Roper Technologies. “Roper Technologies Announces First Quarter Financial Results” (confirms CentralReach acquisition closed April 23, 2025). April 28, 2025. https://www.ropertech.com/news-releases/news-release-details/roper-technologies-announces-first-quarter-financial-results-1 |
| 15. | Behavioral Health Business. “Roper Technologies to Buy ABA Software Company CentralReach for $1.65 Billion” (includes 14-acquisitions quote from Chris Sullens). March 24, 2025. https://bhbusiness.com/2025/03/24/roper-technologies-to-buy-aba-software-company-centralreach-for-1-65-billion/ |
| 16. | EIN Presswire. “Center for Autism Related Disorders Celebrates One Year Under New Leadership as Founder Earns Forbes Recognition” (CARD 2023 bankruptcy auction; founder return). August 26, 2024. https://www.einpresswire.com/article/738170818/center-for-autism-related-disorders-celebrates-one-year-under-new-leadership-as-founder-earns-forbes-recognition |