Intuit, a Mountain View, Calif.-based provider of consumer financial services and software, including a system for helping patients keep track of their medical bills, has announced it has reached an agreement to acquire Medfusion, Cary, N.C., a developer of computerized patient-provider communications services, in a deal valued at $91 million in cash, according to a public statement.
Intuit to acquire Medfusion for $91 million
Both companies already use some of each other's software and services, according to the announcement.
Medfusion founder and CEO Stephen Malik will stay on after the closing of the purchase as a senior vice president and general manager of Intuit's healthcare business, running it from what is now Medfusion's North Carolina headquarters, the statement said.
The transaction should close in Intuit's fiscal fourth quarter, which ends July 31, according to the company.
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