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Intuit Plans to Sell Intuit Health Group

Posted on July 3, 2013 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

I was really intrigued by the news today that Intuit was planning to sell off Intuit Health Group. Intuit had been making some big purchases in healthcare, so it’s amazing to see them doing an about face. Here’s an excerpt from their press release about the change of strategy:

“These decisions are the remaining foundational pieces that focus our organization on our biggest opportunities as we execute our global connected services strategy,” said Brad Smith, Intuit president and chief executive officer. “We’ve evolved from a portfolio of business units to an ecosystem of products and services with unique interdependencies. Working together, these assets create amazing opportunities to solve important customer problems while building durable competitive advantage.”

And here’s an excerpt that discusses their plans for the Intuit Health Group:

Intuit also plans to sell the Intuit Health Group. While Intuit had considered healthcare a potential growth opportunity, structural shifts in the market have evolved in such a way that the business no longer fits within the refocused strategy, Smith said. The Intuit Health assets will be a better fit for an organization with a stronger focus on the healthcare industry.

This announcement is also interesting in light of the recent announcement from Kareo that they’d partnered with an Intuit company DemandForce. It seems that Intuit will still have a healthcare presence, but only when their product works across all industries. This is actually my concern for the Kareo and DemandForce partnership. I think that DemandForce will likely be overwhelming for many practices. Plus, many will wonder why DemandForce has features that don’t make sense for healthcare. Yes, we’re a little particular in healthcare, aren’t we? Kareo says they have 20,000 medical providers, so they’ll realize pretty quickly if practices like DemandForce or not.

I’ll be interested to see which company purchases the Intuit Health Group. There are probably a lot of companies that would love it, but I’m not sure if Intuit’s going to be willing to offer a great price.

Intuit Health to Make the Next Major EMR Vendor Acquisition?

Posted on April 25, 2011 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Medical Software Advice has an interesting look at why Intuit Health might be the next company to acquire one of the 300+ EHR vendors on the market. The initial analysis of Intuit Health’s current healthcare IT offerings is really good and does point to them possibly acquiring an EMR company. It also does make a lot of sense for them to acquire a web based EMR software vendor that has a lot of traction. I think the Mint.com acquisition by Intuit points to the direction they’re taking the company when it comes to SaaS based products (which would include a SaaS EMR company).

My only issue with the article about Intuit Health and their potential acquisition choices is that it’s a pretty casual consideration. The idea of listing AdvancedMD after they were just acquired is pretty funny. Although, Intuit Health acquiring an EMR vendor would be a similar new EMR consolidation as Neil Versel called it.

Same actually goes for Practice Fusion after their recently announced $23 million financing round from Founders Fund. I don’t think Intuit Health is looking for a $200+ million acquisition which is what that type of financing round would likely require. Unless they did a DST style transaction, but I think that’s unlikely. In fact, I think Mitochon Systems might actually be more to Intuit Health’s liking than Practice Fusion. Smaller user base, but could likely acquire them for much cheaper than Practice Fusion.

With the 300+ EHR vendors out there, I guess it was brave to mention any EMR vendors. One thing they definitely got right though, Intuit Health has plenty of interesting companies to choose from. It’s definitely a great time to be an EHR vendor.