Local Tech Wire
CARY, N.C. – Intuit (Nasdaq: INTU) has formally closed on its $91 million acquisition of Cary-based
The all-cash deal was announced two weeks ago.
Medfusion focuses on health care patient and provider communications services.
“By merging the assets and strengths of the two companies, Intuit will be able to offer robust and easy-to-use solutions to doctors and other providers and their patients that address the clinical, administrative and financial side of healthcare,” Intuit said in a statement.
Medfusion, which had been privately held, works with healthcare providers, offering a variety of products designed to boost patient relationships.
Stephen Malik, founder and chief executive officer of Medfusion, will stay with Intuit after the deal closes, the companies said. Malik will join Intuit as a senior vice president and general manager.
Malik, a graduate of UNC-Chapel Hill, launched Medfusion in 1996. He has been involved in the medical records transactions business for more than 20 years.
Medfusion will keep its headquarters in Cary.
"Our mission is to enable healthcare providers to better serve their patients through enhanced communications," said Malik in a statement. "As part of Intuit, we’ll be able to build upon the innovation, stability, and trusted brand of a company that has a distinguished history delighting customers."
Medfusion currently utilizes some Intuit software as part of its product suite.
Intuit, a software as a service provider, is expanding beyond its base of consumer and small business focused software solutions with the acquisition. It already offers Quicken Health solutions.
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