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Intuit Acquires Medfusion for $91 million

Intuit has entered into a contract to acquire Medfusion for $90 million. Medfusion is a healthcare communications software company, headquartered in North Carolina. The transaction is expected to close fourth quarter of 2010.

Although the acquisition is in its beginning stages, Intuit has announced its plans to integrate Medfusion into its Quicken Health solutions. Intuit is the leading provider of business and financial management solutions for small and mid-sized companies. Quicken Health solutions is designed to help health care consumers manage and direct their finances, view and organize their medical expenses , monitor payments and service histories, and download and organize personal health claims data.

The acquisition marks the company’s growing interest in the healthcare industry. Intuit plans to leverage Medfusion’s electronic software to give patients the opportunity to communicate online with doctors. With Medfusion technology, health care consumers will be able to communicate with clinics and other healthcare providers to schedule appointments, pay bills, request prescription refills, fill in medical forms and review their lab results.  The deal also serves to show the growing appeal of a software-as-a-service (SaaS) business model which will help health care consumers cut costs and improve quality.

Medfusion is currently used by approximately 30,000 healthcare providers as their communications solution. With Medfusion technology and Intuit’s global reach, we expect the business of medical software to make the lives of patients and healthcare providers a little easier.

[Photo courtesy of nerdheist.]