Intuit To Buy Medfusion

Intuit Inc. has signed a definitive agreement to acquire privately held Medfusion, a Cary, N.C. based patient-to-provider communications provider. The cash transaction is valued at approximately $91 million.

"This transaction expands our software-as-a-service offerings with a solution currently used by more than 30,000 healthcare providers, the vast majority of whom are essentially small businesses," said Brad Smith, President and Chief Executive Officer, Intuit. "The combination of Medfusion's industry-leading patient-provider communication solutions and Intuit's expertise in creating innovative solutions that improve the financial lives of small businesses and consumers, will help us create new solutions that make the clinical, administrative and financial side of healthcare easier for everyone."

When the transaction closes, Stephen Malik, Medfusion's founder and chief executive officer, will become a Senior Vice President and General Manager reporting to Smith. Malik will continue to run Medfusion and will lead Intuit's healthcare business from Medfusion's headquarters in North Carolina.