I have applied the morphological component analysis(MCA) on mammograms for separation of texture part(i.e. noisy part) and the piecewise smooth part.Later on derived the statistics from orignal as well as the piecewise smooth part and compared both, the MCA obtained Piecewise part showed better results .however i havenot seen in literature some one used it for image fusion but i believe that technique will produce good results.The only draw back of MCA is the computational time is too high

Maybe not a bad idea. Take a look at:

http://www.sciencedirect.com/science/article/pii/S1566253513000742

and/or

http://www.jofcis.com/publishedpapers/2013_9_24_9849_9856.pdf

SamiVarjo Thank u for sharing the link.....