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NextGen to buy Medfusion
Posted on Thursday, 14 November 2019 09:47
NextGen Healthcare is acquiring US-based healthcare information technology company Medfusion for USD 43.00 million in cash.
The deal remains subject to customary conditions and is due to complete in early December 2019.
Furthermore, the transaction is dependent on the closing of its data services division, which is being spun off to form Greenlight Health.
North Carolina-headquartered Medfusion delivers patient-provider communications services for customers and practices across the US.
The group’s offerings include the self-scheduling platform, which allows users to book or reschedule routine appointments online, as well as annual inoculations such as flu jabs.
Its Medfusion health application enables developers and partners to access health data and integrate with 40 emergency medical retrieval services and electronic health records.
The target has more than 14.00 million customers on its platform which include insurance, wellness and legal companies, as well as accountable care organisations, among others.
Rusty Frantz, president of NextGen, said: “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.”
The target’s chief executive, Kim Labow, noted the deal would help expand its market reach and speed up its strategy to improve ambulatory care.
California-based NextGen develops and sells electronic health software to the healthcare industry.
For the six months ended 30th September 2019, the group posted revenue of USD 240.04 million, up from USD 236.32 million in the corresponding period of 2018.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 1,293 deals targeting ambulatory health care service providers announced worldwide since the beginning of 2019.
Centene, via acquisition vehicle Wellington Merger Sub II, agreed to buy US-based WellCare Health Plans for USD 17.30 billion in the largest of these in the year to date.
Other targeted companies in this sector include Radiology Partners, Igenomix and Pihlajalinna.
© Zephus Ltd