Healthcare Business News

Intuit completes acquisition of Medfusion

By Joseph Conn
Posted: May 24, 2010 - 12:30 pm ET

Intuit, developer of the Quicken consumer financial software, made quick work of its $91 million acquisition of Medfusion, a healthcare information technology services provider, reporting it had closed the transaction just 11 days after it was initially announced.

Privately held Medfusion, Cary, N.C., provides Web-based services that allow patients to schedule appointments, pay bills and send providers prescription refill requests. Publicly traded Intuit, Mountain View, Calif., provides a Web-based service in collaboration with health plans to help patients keep track of their medical bills, copayments and insurance reimbursements. Both companies use each other's software and services, according to a company statement.

Medfusion founder and CEO Stephen Malik is to remain as a senior vice president and general manager of Intuit's healthcare business according to the company.

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