Intuit Inc. (INTU) recently announced an agreement to acquire privately held Medfusin for $91 million. Medfusion’s online solution helps patients communicate with their providers to schedule appointments, pay bills, request prescription refills, complete medical forms, review lab results and clinical summaries, receive reminders and exchange secure messages for related care and administrative issues.
After the transaction closes, Intuit will build upon its existing Quicken Health Solutions to make it easier for patients to understand their medical bills and for providers to get paid faster. Intuit plans to combine its user interface and design expertise with Medfusion’s broader portal offering and bill presentment and payment solutions.
Management expects that the acquisition will strengthen Intuit’s position in the healthcare industry. It should also expand Intuit’s Software-as-a-service (SaaS) offerings with a solution currently used by more than 30,000 healthcare providers, most of whom are small businesses.
The transaction is expected to close in the next quarter. The acquisition is expected to reduce fiscal 2010 EPS by one cent. Excluding restructuring charges, EPS is projected at one cent.
California-based Intuit is a leading provider of business and financial management solutions. Its flagship products and services include QuickBooks, Quicken and TurboTax.
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