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Wednesday, May 25, 2022

NextGen Buying Patient Platform

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Irvine-based NextGen will buy North Carolina-based Medfusion Inc. for $43 million in cash in a deal scheduled to close next month.

Medfusion makes software and provides a platform for patient-provider interactions. Software maker Intuit bought the company for $91 million in 2010 and sold it back to its founder in 2013; two years later Medfusion got venture backing from two North Carolina investment firms.

NextGen in a press release cited patients self-paying for care, more reliance on data, and patient engagement as driving the deal. Its shares (Nasdaq: NXGN) are up about 6% in the last month to a $1.1 billion market cap.

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