NextGen Healthcare to acquire Medfusion, Inc.

NextGen Healthcare to acquire Medfusion, Inc.

Press releases may be edited for formatting or style | November 13, 2019 Health IT
IRVINE, Calif.--(BUSINESS WIRE)--NextGen Healthcare, Inc. (NASDAQ:NXGN) (“NextGen Healthcare” or “the Company”), a leading provider of ambulatory-focused technology solutions, today announced an agreement to acquire Medfusion, Inc. (“Medfusion”) a patient experience platform leader. The proposed acquisition is expected to close in early December 2019, subject to the satisfaction of closing conditions, including the transfer of Medfusion’s data services business out of Medfusion. The total purchase price of $43 million, subject to customary adjustments, will be paid in cash at acquisition completion.

Three powerful ambulatory care market trends make the acquisition of Medfusion a timely next step in NextGen Healthcare’s evolution:

As patients assume increased financial responsibility for their healthcare, they are more actively involved in making choices based on both cost and quality

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High quality healthcare depends on improved access to care and information
Patient experience drives patient engagement which is key to improving health outcomes
Medfusion Patient Experience Platform enables key aspects of patient-provider interactions. It includes a modern portal with an attractive, easy-to-use interface designed to run on any device. The platform includes powerful capabilities for patient intake, patient scheduling and patient payment capabilities and is used by more than 16 million patients today.

“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, President and Chief Executive Officer of NextGen Healthcare. “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.”

“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. “By joining forces with NextGen Healthcare, we will expand our market reach and accelerate NextGen’s mission of empowering the transformation of ambulatory care.”

Acquisition Terms

The acquisition agreement provides for the acquisition of all of the outstanding equity in Medfusion, but will be subject to Medfusion transferring, prior to the closing, its data services business, which is in its infancy and will be transferred out of Medfusion as Greenlight Health.

Analyst Day

NextGen Healthcare will host Analyst Day on Thursday, December 12, 2019 in New York. Event details will be published in advance.

About NextGen Healthcare, Inc.
We empower the transformation of ambulatory care—partnering with medical, behavioral and dental providers in their journey to value-based care to make healthcare better for everyone. We go beyond EHR and PM. Our integrated solutions help increase clinical productivity, enrich the patient experience, and ensure healthy financial outcomes. We believe in better.

About Medfusion
Medfusion is redefining healthcare IT by centering on the information needs of the patient. The company’s technology breaks down interoperability barriers for industries that need patient-initiated health data. Medfusion’s robust portfolio of healthcare APIs enable patient-driven workflows to retrieve, aggregate and share health data from more than 40 leading EHRs.

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