– NextGen Healthcare announced today it has agreed to acquire Medfusion for $43 million in cash to give its clients a better patient engagement platform.
– Medfusion will spin out its data services business to form Greenlight Health to meet the growing need for patient-initiated health data retrieval.
– Greenlight Health will be focused on driving data flows for patients, consumers, businesses and organizations that need ready access to patient-approved data housed across a wide variety of healthcare providers and patient portals.
NextGen Healthcare, Inc., a provider of ambulatory-focused technology solutions, today announced an agreement to acquire patient experience platform Medfusion, Inc. Medfusion’s comprehensive Patient Experience solutions include a flexible patient self-scheduling solution, an industry-leading EMR-agnostic portal that drives patient engagement, and a robust portfolio of healthcare APIs.
Financial Details
The total purchase price of $43 million, subject to customary adjustments, will be paid in cash at acquisition completion. 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.
3 Market Drivers Driving The Acquisition of Medfusion
Three powerful ambulatory care market trends make the acquisition of Medfusion a timely next step in NextGen Healthcare’s evolution:
1. As patients assume increased financial responsibility for their healthcare, they are more actively involved in making choices based on both cost and quality
2. High-quality healthcare depends on improved access to care and information
3. Patient experience drives patient engagement which is key to improving health outcomes
“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.”
Medfusion Spins-Out Data Services Business to Form Greenlight Health
Medfusion announces the creation of a new stand-alone company, Greenlight Health Data Solutions (Greenlight Health), to meet the growing need for patient-initiated health data retrieval. Greenlight Health will be focused on driving data flows for patients, consumers, businesses, and organizations that need ready access to patient-approved data housed across a wide variety of healthcare providers and patient portals.
Patient-Initiated Health Data Retrieval Platform
Patients often want or need to share their health data with a variety of providers, organizations and apps—including life insurance, disability companies, specialty hospitals, wellness apps, and more. By simplifying medical records retrieval into an easy-to-use self-service “button,” organizations can empower their patients, members, and participants to connect to their data via their existing patient portals. The requested patient data is then retrieved and shared in a secure and structured format that easily integrates with existing technology workflows. Greenlight Health represents the right way to do health data interoperability–with the patient in control. Health data is only retrieved and shared when the patient has given the “green light.” Today Greenlight Health offers robust patient-initiated data retrieval across 40+ leading EHR patient portals and more than 700,000 providers.
Greenlight Health is funded by serial entrepreneur and NCFC/NC Courage owner Steve Malik and will be based in Cary, NC. The company will be staffed by employees from within Medfusion who already support the data services business. The company expects to be a fully stand-alone entity by early December 2019.
“Creating a health data services company with dedicated technical and operational resources will enable us to accelerate the growth of patient data-driven applications” said Malik. “The need for companies and organizations to consume healthcare data is only going to increase and Greenlight Health intends to be on the forefront of satisfying that demand.”
