Quality Systems, Inc. announced today completion of its acquisition of San Diego-based HealthFusion, a cloud-based software for physicians, hospitals and medical billing services for $165 million plus potential additional contingent consideration of up to $25 million.
“We are pleased to close the HealthFusion transaction on schedule and consistent with the terms previously mentioned,” said Rusty Frantz, president and chief executive officer at Quality Systems, Inc. in an official statement. “The extension of HealthFusion’s solutions and intellectual property supports our strategy to expand both our client base and solution capabilities in our core ambulatory market. We look forward to expanding the platform to satisfy the needs of practices of increasing size and complexity as they navigate the changing healthcare models to succeed in the new value-based environment.”
Founded in 1998 by three entrepreneurs including two primary care physicians, San Diego, Calif.-based HealthFusion supports over 6,000 ambulatory subscribers in more than 30 specialties spread across all 50 states and employs 140. HealthFusion’s 100 percent cloud-based MediTouch® platform is currently used by over 3,000 physician practices, hospital ambulatory centers and medical billing services (totaling more than 6,000 subscribers). All MediTouch modules function seamlessly together including the EHR, medical billing, practice management, collections, patient portal, and clearinghouse.
