CARY – Steve Malik, the soccer entrepreneur who is seeking to build a massive $2 billion entertainment complex in Raleigh, is selling his Cary-based life science data and medical services platform Medfusion.
It’s the second time he has sold the company, which he founded.
This time the buyer is California-based NextGen Healthcare, a technology services provider focused on ambulatory care.
NextGen, which is traded on the Nasdaq stock exchange (NXGN), and Malik announced the deal early Wednesday.
The price is $43 million.
“From our founding, Medfusion has been focused on patient-provider communications and making health IT work for both patients and practices,” said
Kim Labow, Chief Executive Officer of Medfusion, in a statement. “By joining forces with NextGen Healthcare, we will expand our market reach and accelerate
NextGen’s mission of empowering the transformation of ambulatory care.”
As part of the deal, Malik also plans to spin out a new company from Medfusion called Greenlight Health data Services.
“We must further engage patients in their healthcare journey as engagement is essential for great outcomes and lowering the cost of care,” said Rusty
Frantz, Chief Executive Officer of NextGen Healthcare., in a statement.
“Providing the overall experience, tools and meaningful information isn’t just essential, it is increasingly expected by today’s healthcare consumer. The acquisition of Medfusion will add a best-in-class patient access and engagement capability to NextGen Healthcare’s award-winning, fully-integrated ambulatory platform.”
Malik sold Medfusion for $91 million in 2010 to Intuit and reacquired it in 2013.
He also is owner and chairman of North Carolina FC of United Soccer League and North Carolina Courage of National Women’s Soccer League
This story will be updated.