Intuit Inc. (Nasdaq:INTU) has completed its acquisition of privately held Medfusion, a Cary, N.C. based leader in patient-to-provider communications. The cash transaction, announced May 10, is valued at approximately $91 million.
By merging the assets and strengths of the two companies, Intuit will be able to offer robust and easy-to-use solutions to doctors and other providers and their patients that address the clinical, administrative and financial side of healthcare.
The acquisition is expected to reduce Intuit's fiscal year 2010 GAAP and non-GAAP diluted earnings per share by approximately 1 cent. Intuit does not expect the acquisition to have a material effect on fiscal year 2011 earnings.