SOURCE: ArchPoint Partners

ArchPoint Partners

September 09, 2013 19:48 ET

ArchPoint Partners Acts as Sole Financial Advisor to Intuit in Sale of Intuit Health Group

SAN FRANCISCO, CA--(Marketwired - Sep 9, 2013) - ArchPoint Partners acted as sole advisor to Intuit in the recent sale of Intuit Health Group to an investment group led by Steve Malik, the North Carolina-based entrepreneur who sold his medical software company Medfusion to Intuit three years ago to form the basis of Intuit Health Group. Financial terms of the transaction were not disclosed.

Intuit Health Group is a comprehensive patient engagement portal for healthcare providers. The cloud-based software-as-a-service (SaaS) solution enables patients to make appointments, pay their bills, request prescription refills, complete medical forms, review lab results and perform other tasks over the Internet. Physicians pay a monthly subscription fee for online and mobile access for their office and patients. Today it is one of the most widely used physician portals.

John Cooper, Managing Partner at ArchPoint Partners, said, "My partner Susan Blanco and I were uniquely qualified to run this transaction as we have substantial experience in the sector and have long and trusted relationships in the healthcare information technology market. We also knew the Intuit Health Group business particularly well as we had originally advised Medfusion on the sale of their business to Intuit."

This transaction is one of a series of notable, market-changing transactions in the Healthcare IT space for ArchPoint Partners. ArchPoint continues to execute transactions that are shaping the current healthcare IT landscape.

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