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02/25/2021

Allscripts Announces Fourth Quarter 2020 Results and Outlook For 2021
  • Fourth quarter GAAP EPS of $4.82; 71% year-over-year growth in non-GAAP diluted EPS to $0.29
  • Closed sales of EPSi and CarePort Health and recognized a combined pre-tax gain of $1.2 billion
  • Repurchased $280 million of stock in the quarter and ended the quarter in a net cash position

CHICAGO–(BUSINESS WIRE)–Feb. 25, 2021–
Allscripts Healthcare Solutions, Inc. (Nasdaq: MDRX) (Allscripts) announced its financial results for the three and twelve months ended December 31, 2020.

Bookings(1) were $220 million in the fourth quarter of 2020. This result compares with $312 million in the fourth quarter of 2019. Contract revenue backlog totaled $4.1 billion as of December 31, 2020.

Fourth quarter 2020 GAAP revenue was $386 million compared with $414 million in the fourth quarter of 2019. Non-GAAP revenue(2) was $415 million in the fourth quarter of 2020 compared with $452 million in the fourth quarter of 2019.

On a GAAP basis in the fourth quarter of 2020, loss from operations was $68 million and included $17 million of severance and restructuring charges and $75 million of asset impairments. GAAP loss from operations in the fourth quarter of 2019 was $55 million and included $20 million of severance and restructuring charges and $33 million of asset impairments. Non-GAAP income from operations(2) in the fourth quarter of 2020 was $66 million compared with $44 million in the fourth quarter of 2019.

GAAP net income in the fourth quarter of 2020 totaled $728 million compared with net loss of $19 million in the fourth quarter of 2019. Non-GAAP net income(2) in the fourth quarter of 2020 was $45 million compared with $28 million in the fourth quarter of 2019.

GAAP earnings per share in the fourth quarter of 2020 was $4.82 compared with loss per share of $0.12 in the fourth quarter of 2019. Non-GAAP diluted earnings per share(2) in the fourth quarter of 2020 were $0.29 compared with $0.17 in the fourth quarter of 2019.

Adjusted EBITDA(2) totaled $97 million in the fourth quarter of 2020, compared with $74 million in the fourth quarter of 2019.

Stock repurchases totaled $280 million in the fourth quarter of 2020.

“Allscripts saw continued progress in the fourth quarter as we benefitted from the decisive and strategic actions we took in 2020, which included resetting our cost base and solutions portfolio to more effectively compete in this uncertain environment,” said Paul M. Black, Allscripts Chief Executive Officer. “We believe Allscripts is well positioned to succeed with our robust, highly relevant solutions portfolio which spans the provider, payer and life sciences markets. Our strong and flexible balance sheet enables us to continue our investments to drive growth as well as return additional capital to shareholders. Looking ahead, we expect to continue to leverage the work we have done to drive improved margins and free cash flow generation.”

2021 Financial Outlook(3)

For the full year 2021, Allscripts currently expects to achieve:

  • Revenue of $1.5 billion
  • Adjusted EBITDA between $240 million and $260 million
  • Free cash flow between $90 million and $100 million

Conference Call

Allscripts will conduct a conference call today, Thursday, February 25th, 2021, at 4:30 PM Eastern Time to discuss its earnings release and other information. Participants may access the conference call via webcast at http://investor.allscripts.com. Participants also may access the conference call by dialing +1 (877) 269-7756 or +1 (201) 689-7817 (international) and requesting Conference ID # 13715828.

A replay of the call will be available approximately two hours after the conclusion of the call, for a period of four weeks, on the Allscripts Investor Relations website or by calling +1 (877) 660-6853 or +1 (201) 612-7415 – Conference ID # 13715828.

Supplemental and non-GAAP financial information (both including and excluding discontinued operations) is also available at http://investor.allscripts.com.

Footnotes

(1)

Bookings reflect the value of executed contracts for software, hardware and other client services, for all business units while they were owned by the Company.

(2)

Non-GAAP figures include results from divested businesses during the period they were still owned. GAAP figures reflect the results of divested businesses as discontinued operations in all periods presented.

(3)

In providing financial guidance, the company does not reconcile Adjusted EBITDA and free cash flow to the corresponding GAAP financial measures. Allscripts does not provide guidance for the various reconciling items since certain items that impact GAAP net income and operating cash flow such as acquisition-related amortization, asset impairment charges and restructuring and other costs, any of which may be significant, are either outside of its control and/or cannot be reasonably predicted. Please see the “Explanation of Non-GAAP Financial Measures” at the end of this press release for detailed information on calculating non-GAAP measures. For a reconciliation of other non-GAAP items, see the non-GAAP financial reconciliation tables in this release (Tables 4 and 5).

NOTE: All percentage changes described within this press release are calculated from full dollar amounts as illustrated in the accompanying financial statements and Allscripts Supplemental Financial Data Workbook, posted on the Investor Relations website. Rounding differences may occur when individually calculating percentages or totals from rounded amounts included within the press release body compared to full dollar amounts in the tables.

About Allscripts

Allscripts (Nasdaq: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our 2021 outlook, profitability initiatives, and plans to return capital to shareholders. These forward-looking statements are based on the current beliefs and expectations of Allscripts management, only speak as of the date that they are made and are subject to significant risks and uncertainties. Such statements can be identified by the use of words such as “future,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “will,” “would,” “could,” “can,” “may,” and similar terms. Actual results could differ significantly from those set forth in the forward-looking statements, and reported results should not be considered an indication of future performance or events. Certain factors that could cause Allscripts actual results to differ materially from those described in the forward-looking statements include, but are not limited to: our ability to achieve the margin targets associated with our margin improvement initiatives within the contemplated time periods, if at all; the magnitude, severity and duration of the COVID-19 pandemic, including the impacts of the pandemic, along with the impacts of our responses and the responses by governments and other businesses to the pandemic, on our business, our employees, our clients and our suppliers; security breaches resulting in unauthorized access to our or our clients’ computer systems or data, including denial-of-services, ransomware or other Internet-based attacks; our use of the proceeds from the sale of our EPSi and CarePort businesses; the failure by Practice Fusion to comply with the terms of its settlement agreements with the U.S. Department of Justice (the “DOJ”); the costs and burdens of compliance by Practice Fusion with the terms of its settlement agreements with the DOJ; additional investigations and proceedings from governmental entities or third parties other than the DOJ related to the same or similar conduct underlying the DOJ’s investigations into Practice Fusion’s business practices; our ability to recover from third parties (including insurers) any amounts required to be paid in connection with Practice Fusion’s settlement agreements with the DOJ and related inquiries; the expected financial results of businesses acquired by us; the successful integration of businesses acquired by us; the anticipated and unanticipated expenses and liabilities related to businesses acquired by us, including the civil investigation by the U.S. Attorney’s Office involving our Enterprise Information Solutions business (the “EIS business”); our failure to compete successfully; consolidation in our industry; current and future laws, regulations and industry initiatives; increased government involvement in our industry; the failure of markets in which we operate to develop as quickly as expected; our or our customers’ failure to see the benefits of government programs; changes in interoperability or other regulatory standards; our ability to maintain and expand our business with existing clients or effectively transition clients to newer products; the effects of the realignment of our sales, services and support organizations; market acceptance of our products and services; the unpredictability of the sales and implementation cycles for our products and services; our ability to manage future growth; our ability to introduce new products and services; our ability to establish and maintain strategic relationships; risks associated with investments and acquisitions; the performance of our products; our ability to protect our intellectual property rights; the outcome of other legal proceedings involving us; our ability to hire, retain and motivate key personnel; performance by our content and service providers; liability for use of content; price reductions; our ability to license and integrate third-party technologies; risks related to global operations; variability of our quarterly operating results; risks related to our outstanding indebtedness; changes in tax rates or laws; business disruptions; our ability to maintain proper and effective internal controls; and asset and long-term investment impairment charges. Additional information about these and other risks, uncertainties, and factors affecting our business is contained in our filings with the Securities and Exchange Commission, including under the caption “Risk Factors” in our most recent Allscripts Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Qs. Allscripts does not undertake to update forward-looking statements to reflect changed assumptions, the impact of circumstances or events that may arise after the date of the forward-looking statements, or other changes in its business, financial condition or operating results over time.

Table 1
Allscripts Healthcare Solutions, Inc.
Condensed Consolidated Balance Sheets
(In millions)
(Unaudited)
 
December 31, December 31,

2020

2019

ASSETS
Current assets:
Cash and cash equivalents

$531.1

$129.6

Restricted cash

$6.4

$7.9

Accounts receivable, net

$347.3

$424.4

Contract assets

$106.7

$93.3

Income tax receivable

$25.4

$0.0

Prepaid expenses and other current assets

$136.3

$144.2

Current assets attributable to discontinued operations

$0.0

$41.9

Total current assets

$1,153.2

$841.3

Fixed assets, net

$72.2

$87.9

Software development costs, net

$193.2

$222.7

Intangible assets, net

$286.6

$367.1

Goodwill

$974.7

$974.1

Deferred taxes, net

$5.8

$5.7

Contract assets – long-term

$43.7

$63.5

Right-of-use assets – operating leases

$96.6

$95.8

Other assets

$91.6

$119.6

Long-term assets attributable to discontinued operations

$0.0

$428.0

Total assets

$2,917.6

$3,205.7

 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable

$35.9

$102.8

Accrued expenses

$100.2

$270.3

Accrued compensation and benefits

$118.8

$65.8

Deferred revenue

$334.8

$335.6

Current maturities of long-term debt

$0.0

$364.5

Current operating lease liabilities

$22.3

$22.3

Current liabilities attributable to discontinued operations

$322.8

$49.4

Total current liabilities

$934.8

$1,210.7

Long-term debt

$167.6

$551.0

Deferred revenue

$3.4

$11.1

Deferred taxes, net

$18.2

$21.0

Long-term operating lease liabilities

$93.5

$93.6

Other liabilities

$33.9

$30.3

Long-term liabilities attributable to discontinued operations

$0.0

$2.8

Total liabilities

$1,251.4

$1,920.5

Total stockholders’ equity

$1,666.2

$1,285.2

Total liabilities and stockholders’ equity

$2,917.6

$3,205.7

 
Note: The condensed consolidated balance sheets reflect the results of Careport Health and EPSi as discontinued operations in all periods presented.

Table 2

Allscripts Healthcare Solutions, Inc.
Condensed Consolidated Statements of Operations
(In millions, except per share amounts)
(Unaudited)
 

Three Months Ended December 31,

 

Twelve Months Ended December 31,

2020

 

2019

 

2020

 

2019

Revenue:
Software delivery, support and maintenance

$241.3

 

$248.9

 

$914.7

 

$1,004.2

 

Client services

145.1

 

165.4

 

588.0

 

628.4

 

Total revenue

386.4

 

414.3

 

1,502.7

 

1,632.6

 

Cost of revenue:
Software delivery, support and maintenance

71.3

 

80.0

 

288.0

 

319.1

 

Client services

123.9

 

154.4

 

530.6

 

595.3

 

Amortization of software development and acquisition-related assets (a)

30.2

 

27.3

 

118.4

 

107.9

 

Total cost of revenue

225.4

 

261.7

 

937.0

 

1,022.3

 

Gross profit

161.0

 

152.6

 

565.7

 

610.3

 

Selling, general and administrative expenses

93.8

 

108.3

 

389.9

 

400.8

 

Research and development

54.3

 

60.1

 

206.1

 

245.4

 

Impairments

74.7

 

32.5

 

75.0

 

36.5

 

Amortization of intangible and acquisition-related assets

6.3

 

6.8

 

25.6

 

27.2

 

Income (loss) from operations

(68.1

)

(55.1

)

(130.9

)

(99.6

)

Interest expense, net (b)

(6.1

)

(11.5

)

(32.4

)

(41.6

)

Other (c)

(0.6

)

3.0

 

14.0

 

(140.5

)

Income (loss) before income taxes

(74.8

)

(63.6

)

(149.3

)

(281.7

)

Income tax (provision) benefit

10.1

 

29.7

 

16.7

 

43.3

 

Income (loss) from continuing operations, net of tax

(64.7

)

(33.9

)

(132.6

)

(238.4

)

Income (loss) from discontinued operations

16.8

 

20.1

 

71.4

 

75.2

 

Gain (loss) on sale of discontinued operations

1,156.5

 

0.0

 

1,156.5

 

0.0

 

Income tax (provision) from discontinued operations

(380.8

)

(5.2

)

(394.9

)

(19.4

)

Income (loss) from discontinued operations, net of tax

792.5

 

14.9

 

833.0

 

55.8

 

Net income (loss)

727.8

 

(19.0

)

700.4

 

(182.6

)

Net (income) loss attributable to non-controlling interest

0.0

 

0.0

 

0.0

 

0.4

 

Net Income (loss) attributable to Allscripts Healthcare Solutions, Inc. stockholders

$727.8

 

($19.0

)

$700.4

 

($182.2

)

 
Income (loss) from continuing operations per share – basic

($0.43

)

($0.21

)

($0.83

)

($1.43

)

Income (loss) from discontinued operations per share – basic

$5.25

 

$0.09

 

$5.23

 

$0.33

 

Income (loss) per share – basic

$4.82

 

($0.12

)

$4.40

 

($1.10

)

Income (loss) from continuing operations per share – diluted

($0.43

)

($0.21

)

($0.83

)

($1.43

)

Income (loss) from discontinued operations per share – diluted

$5.25

 

$0.09

 

$5.23

 

$0.33

 

Income (loss) per share – diluted

$4.82

 

($0.12

)

$4.40

 

($1.10

)

 
Weighted average common shares outstanding:
Basic

150.9

 

162.4

 

159.3

 

166.3

 

Diluted

150.9

 

162.4

 

159.3

 

166.3

 

 

Three Months Ended December 31,

 

Twelve Months Ended December 31,

2020

 

2019

 

2020

 

2019

 
(a) Amortization of software development and acquisition-related assets includes:
Amortization of capitalized software development costs

$22.7

 

$18.4

 

$86.3

 

$72.9

 

Amortization of acquisition-related intangible assets

7.5

 

8.9

 

32.1

 

35.0

 

Total amortization of software development and acquisition-related assets

$30.2

 

$27.3

 

$118.4

 

$107.9

 

 
(b) Interest expense are comprised of the following for the periods presented:
Interest expense

(4.0

)

(7.2

)

(18.1

)

(26.6

)

Interest income

0.3

 

0.3

 

1.7

 

1.6

 

Non-cash charges to interest (expense) income

0.1

 

(0.1

)

$0.0

 

(0.1

)

Amortization of discounts and debt issuance costs

(2.5

)

(4.5

)

(16.0

)

(16.5

)

Interest expense, net

($6.1

)

($11.5

)

($32.4

)

($41.6

)

 
(c) Other is comprised of the following for the periods presented:
Equity net income (loss) of unconsolidated investments

(0.2

)

0.1

 

17.2

 

0.7

 

DOJ settlement

0.0

 

0.0

 

0.0

 

(145.0

)

Other income (expense)

(0.4

)

2.9

 

(3.2

)

3.8

 

Other

($0.6

)

$3.0

 

$14.0

 

($140.5

)

 
Note: The condensed consolidated statements of operations reflect the results of Careport Health and EPSi as discontinued operations in all periods presented.
Table 3
Allscripts Healthcare Solutions, Inc.
Condensed Consolidated Statements of Cash Flows
(In millions)
(Unaudited)
 

Three Months Ended December 31,

 

Twelve Months Ended December 31,

2020

 

2019

 

2020

 

2019

Cash flows from operating activities:
Net income (loss)

$727.8

 

($19.0

)

$700.4

 

($182.6

)

Less: Income(loss) from discontinued operations

792.5

 

14.9

 

833.0

 

55.8

 

Income (loss) from continuing operations

($64.7

)

($33.9

)

($132.6

)

($238.4

)

Non-cash adjustments to net income (loss):
Depreciation and amortization

46.4

 

50.0

 

192.3

 

198.2

 

Operating right-to-use asset amortization

5.1

 

5.7

 

20.7

 

21.9

 

Stock-based compensation expense

8.1

 

9.4

 

34.0

 

39.0

 

Deferred Taxes

(6.2

)

(34.9

)

(3.3

)

(38.0

)

Asset impairment charges

74.7

 

6.8

 

75.0

 

10.8

 

Goodwill impairment

0.0

 

25.7

 

0.0

 

25.7

 

Impairment (recovery) of long-term investments

0.0

 

1.7

 

1.6

 

0.7

 

Equity in net income of unconsolidated investments

0.2

 

0.0

 

(17.2

)

(0.6

)

Other (income) loss, net

(5.1

)

7.2

 

(5.9

)

10.0

 

Total non-cash adjustments to net income (loss)

123.2

 

71.6

 

297.2

 

267.7

 

Cash impact of changes in operating assets and liabilities:
Assets

(63.9

)

(77.1

)

0.7

 

(25.7

)

Liabilities

61.0

 

61.3

 

(5.8

)

(133.2

)

Accrued DOJ settlement

(58.4

)

0.0

 

(147.2

)

145.0

 

Total cash impact of changes on operating assets and liabilities

(61.3

)

(15.8

)

(152.3

)

(13.9

)

Net cash provided by (used in) operating activities – continuing operations

(2.8

)

21.9

 

12.3

 

15.4

 

Net cash provided by (used in) operating activities – discontinued operations

(175.8

)

(9.5

)

(119.0

)

30.9

 

Net cash provided by (used in) operating activities

(178.6

)

12.4

 

(106.7

)

46.3

 

Cash flows from investing activities:
Capital expenditures

(9.2

)

(3.1

)

(17.0

)

(16.5

)

Capitalized software

(16.3

)

(25.2

)

(88.0

)

(103.3

)

Cash paid for business acquisitions, net of cash acquired

0.0

 

0.0

 

0.0

 

(23.4

)

Cash received from sale of business

1,710.0

 

0.0

 

1,710.0

 

0.0

 

Sales (purchases) of equity securities, other investments and related intangible assets, net

(3.2

)

0.0

 

(7.1

)

(8.2

)

Sale of other investments

0.0

 

0.0

 

24.9

 

1.0

 

Cash provided by (used in) investing activities – Continuing Operations

1,681.3

 

(28.3

)

1,622.8

 

(150.4

)

Cash provided by (used in) investing activities – Discontinued Operations

(1.2

)

(2.5

)

(7.6

)

(10.7

)

Net cash provided by (used in) investing activities

1,680.1

 

(30.8

)

1,615.2

 

(161.1

)

Cash flows from financing activities:
Taxes paid related to net share settlement of equity awards

(0.4

)

(0.5

)

(6.0

)

(7.3

)

Proceeds from issuance of 0.875% Convertible Senior Notes

5.4

 

218.0

 

4.7

 

218.0

 

Payments for issuance costs on 0.875% Convertible Senior Notes

(5.4

)

(5.4

)

(5.4

)

(5.4

)

Payments for capped call transaction on 0.875% Convertible Senior Notes

0.0

 

(17.2

)

0.0

 

(17.2

)

Repayment of Convertible Senior Notes, net of issuance costs

0.0

 

0.0

 

(352.3

)

0.0

 

Credit facility payments

(1,140.0

)

(205.0

)

(1,315.0

)

(220.0

)

Credit facility borrowings, net of issuance costs

230.0

 

30.1

 

903.6

 

279.2

 

Repurchase of common stock

(79.6

)

(9.3

)

(134.9

)

(111.5

)

Accelerated share repurchase program

(200.0

)

0.0

 

(200.0

)

0.0

 

Repurchase of unsettled common stock

0.0

 

9.3

 

0.0

 

0.0

 

Payment of acquisition and other financing obligations

0.0

 

(3.1

)

(4.4

)

(14.7

)

Purchases of subsidiary shares owned by non-controlling interest

0.0

 

0.0

 

0.0

 

(53.8

)

Net cash provided by (used in) financing activities – continuing operations

(1,190.0

)

16.9

 

(1,109.7

)

67.3

 

Net cash provided by (used in) financing activities – discontinued operations

0.0

 

0.0

 

0.0

 

0.0

 

Net cash provided by (used in) financing activities

(1,190.0

)

16.9

 

(1,109.7

)

67.3

 

Effect of exchange rate changes on cash and cash equivalents

1.1

 

0.3

 

1.2

 

0.2

 

Net increase (decrease) in cash and cash equivalents

312.6

 

(1.2

)

400.0

 

(47.3

)

Cash, cash equivalents and restricted cash, beginning of period

224.9

 

138.7

 

137.5

 

184.8

 

Cash, cash equivalents and restricted cash, end of period

$537.5

 

$137.5

 

$537.5

 

$137.5

 

 
Note: The condensed consolidated statements of cash flows reflect the results of Careport Health and EPSi as discontinued operations in all periods presented.
Table 4
Allscripts Healthcare Solutions, Inc.
Condensed Non-GAAP Financial Information
(In millions, except per share amounts and percentages)
(Unaudited)
 
Three Months Ended December 31, Twelve Months Ended December 31,

2020

2019

2020

2019

Total revenue, as reported

$386.4

 

$414.3

 

$1,502.7

 

$1,632.6

 

Acquisition-related deferred revenue adjustments

0.0

 

0.5

 

0.0

 

2.0

 

Non-GAAP revenue related to businesses reported as discontinued operations

28.1

 

36.7

 

136.8

 

139.1

 

Total non-GAAP revenue

$414.5

 

$451.5

 

$1,639.5

 

$1,773.7

 

 
Gross profit, as reported

$161.0

 

$152.6

 

$565.7

 

$610.3

 

Acquisition-related deferred revenue adjustments

0.0

 

0.5

 

0.0

 

2.0

 

Acquisition-related amortization

7.5

 

8.9

 

32.1

 

35.0

 

Stock-based compensation expense

1.5

 

1.6

 

6.0

 

6.2

 

Restructuring and other

0.0

 

0.4

 

2.8

 

8.4

 

Non-GAAP gross profit related to businesses reported as discontinued operations

22.7

 

27.9

 

102.3

 

104.9

 

Total non-GAAP gross profit

$192.7

 

$191.9

 

$708.9

 

$766.8

 

 
Income (loss) from operations, as reported

($68.1

)

($55.1

)

($130.9

)

($99.6

)

Acquisition-related deferred revenue adjustments

0.0

 

0.5

 

0.0

 

2.0

 

Acquisition-related amortization

13.8

 

15.7

 

57.7

 

62.1

 

Stock-based compensation expense

9.5

 

10.1

 

38.4

 

42.5

 

Impairments (recovery)

74.7

 

32.5

 

75.0

 

36.5

 

Restructuring and other

16.8

 

19.5

 

66.2

 

53.9

 

Non-GAAP income from operations related to businesses reported as discontinued operations

19.1

 

20.7

 

79.5

 

77.1

 

Total non-GAAP income from operations

$65.8

 

$43.9

 

$185.9

 

$174.5

 

 
Net income (loss) attributable to Allscripts Healthcare Solutions, Inc. stockholders, as reported

$727.8

 

($19.0

)

$700.4

 

($182.2

)

Loss (income) from discontinued operations

(16.8

)

(20.1

)

(71.4

)

(75.2

)

(Gain) on sale of business, net

(1,156.5

)

0.0

 

(1,156.5

)

0.0

 

Income tax provision from discontinued operations

380.8

 

5.2

 

394.9

 

19.4

 

Income (loss) from continuing operations, net of tax

($64.7

)

($33.9

)

($132.6

)

($238.0

)

Acquisition-related deferred revenue adjustments

0.0

 

0.5

 

0.0

 

2.0

 

Acquisition-related amortization

13.8

 

15.7

 

57.7

 

62.1

 

Stock-based compensation expense

9.5

 

10.1

 

38.4

 

42.5

 

Restructuring and other

16.8

 

20.3

 

66.2

 

200.1

 

Non-cash charges to interest expense and other

1.2

 

(1.1

)

14.4

 

8.8

 

Impairments

74.7

 

34.2

 

76.6

 

37.2

 

Equity in net loss (income) of unconsolidated investments and non-controlling interest

0.2

 

(0.1

)

(17.2

)

(0.9

)

Tax rate alignment

(19.9

)

(33.5

)

(37.5

)

(60.4

)

Non-GAAP net income related to businesses reported as discontinued operations

13.4

 

15.8

 

56.5

 

58.6

 

Non-GAAP net income attributable to Allscripts Healthcare Solutions, Inc.

$45.0

 

$28.0

 

$122.5

 

$112.0

 

 
Non-GAAP effective tax rate

24%

24%

24%

24%

 
Weighted shares outstanding – basic

150.9

 

162.4

 

159.3

 

166.3

 

Weighted shares outstanding – diluted

155.9

 

164.9

 

162.0

 

168.1

 

 
GAAP Income (loss) from continuing operations per share – basic

($0.43

)

($0.21

)

($0.83

)

($1.43

)

Non-GAAP Income (loss) per share – diluted

$0.29

 

$0.17

 

$0.76

 

$0.67

 

Table 5
Allscripts Healthcare Solutions, Inc.
Non-GAAP Financial Information – Adjusted EBITDA
(In millions, except percentages)
(Unaudited)

 

 

Three Months Ended December 31,

Twelve Months Ended December 31,

2020

 

2019

2020

 

2019

Net income (loss) from continuing operations, as reported

($64.7

)

 

($33.9

)

($132.6

)

 

($238.4

)

Plus:

 

 

Interest expense and other, net (a)

4.0

 

7.3

17.7

 

25.3

Depreciation and amortization

46.4

 

52.3

192.3

 

198.2

Equity in net (income) loss of unconsolidated investments

0.2

 

(0.2

)

(17.2

)

 

(0.7

)

Tax provision/(benefit)

(10.1

)

 

(29.7

)

(16.7

)

 

(43.3

)

EBITDA

($24.2

)

 

($4.2

)

$43.5

 

($58.9

)

Plus:

 

 

 

Acquisition-related deferred revenue adjustments

0.0

 

0.5

0.0

 

2.0

Stock-based compensation expense

9.5

 

10.1

38.4

 

42.6

Restructuring and other

16.8

 

10.4

66.2

 

187.9

Impairments (recovery)

74.7

 

34.2

76.6

 

37.2

Adjusted EBITDA from continuing operations

76.8

 

51.0

 

224.7

 

210.8

Adjusted EBITDA related to businesses reported as discontinued operations

20.0

 

22.8

87.2

 

84.3

Adjusted EBITDA

$96.8

 

$73.8

 

$311.9

 

$295.1

 

 

Adjusted EBITDA margin from continuing operations (b)

19.9

%

 

12.3

%

15.0

%

 

12.9

%

Adjusted EBITDA margin (c)

23.4

%

 

16.3

%

19.0

%

 

16.6

%

 

 

(a) Interest expense and other, net has been adjusted from the amounts presented in the statements of operations in order to remove the amortization of the fair value of the cash conversion option embedded in the 1.25% and 0.875% Cash Convertible Notes and deferred debt issuance costs from interest expense since such amortization is also included in depreciation and amortization.
 
(b) Adjusted EBITDA margin from continuing operations is calculated by dividing adjusted EBITDA from continuing operations by non-GAAP revenue from continuing operations.

 

 

(c) Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by non-GAAP revenue.

Explanation of Non-GAAP Financial Measures

Allscripts reports its financial results in accordance with U.S. generally accepted accounting principles, or GAAP. To supplement this information, Allscripts presents non-GAAP revenue, gross profit, gross margin, income from operations, Adjusted EBITDA, Adjusted EBITDA margin, effective income tax rate, net income, diluted earnings per share and free cash flow, which are considered non-GAAP financial measures under Section 101 of Regulation G under the Securities Exchange Act of 1934, as amended. The definitions of non-GAAP financial measures are presented below:

  • Non-GAAP revenue consists of GAAP revenue, as reported, and adds back recognized deferred revenue from Practice Fusion and NantHealth’s provider/patient solutions business and non-material consolidated affiliates that is eliminated for GAAP purposes due to purchase accounting adjustments as well as revenue from businesses reported as discontinued operations. Reconciliations to GAAP revenue are found in Table 4 within this press release.
  • Non-GAAP gross profit consists of GAAP gross profit, as reported, and excludes acquisition-related deferred revenue adjustments, acquisition-related amortization, stock-based compensation expense and restructuring and other costs. Non-GAAP gross profit includes results from businesses reported as discontinued operations. Non-GAAP gross margin consists of non-GAAP gross profit as a percentage of non-GAAP revenue in the applicable period. Reconciliations to GAAP gross profit are found in Table 4 within this press release.
  • Non-GAAP income from operations consists of GAAP income (loss) from operations, as reported, and excludes acquisition-related deferred revenue adjustments, acquisition-related amortization, stock-based compensation expense, impairment charges and restructuring and other costs. Non-GAAP income from operations includes results from businesses reported as discontinued operations. Reconciliations to GAAP income (loss) from operations are found in Table 4 within this press release.
  • Adjusted EBITDA is a non-GAAP measure and consists of GAAP net income/(loss), as reported, and adjusts for: acquisition-related deferred revenue adjustments; depreciation and amortization; stock-based compensation expense; restructuring and other costs; impairment charges; interest expense and other, net; equity in net earnings of unconsolidated investments; and tax provision (benefit). Adjusted EBITDA includes results from businesses reported as discontinued operations. Reconciliations to GAAP net income/(loss) are found in Table 5 within this press release.
  • Adjusted EBITDA margin is a non-GAAP measure that is calculated by dividing Adjusted EBITDA by non-GAAP revenue. See the reconciliations in Table 4 within this press release with respect to non-GAAP revenue and in Table 5 within this press release with respect to Adjusted EBITDA.
  • Non-GAAP effective income tax rate is based on non-GAAP pre-tax earnings and consists of the statutory federal income tax rate, Allscripts effective state income tax rate and adjustments for permanent differences.
  • Non-GAAP net income consists of GAAP net income/(loss), as reported, and adds back acquisition-related deferred revenue adjustments; acquisition-related amortization; stock-based compensation expense; restructuring and other costs; non-cash charges to interest expense and other; impairment charges and equity in net earnings of unconsolidated investments. Non-GAAP net income includes a GAAP to non-GAAP tax rate alignment adjustment. Non-GAAP net income also includes results from businesses reported as discontinued operations.
  • Non-GAAP net income attributable to Allscripts Healthcare Solutions, Inc. is a non-GAAP measure and consists of non-GAAP net income, as described above, with an adjustment to reduce non-GAAP net income for the percentage of non-controlling interest outside Allscripts ownership position. Reconciliations to GAAP net income/(loss) attributable to Allscripts Healthcare Solutions, Inc. are found in Table 4 within this press release.
  • Non-GAAP diluted earnings per share consist of non-GAAP net income, as defined above, divided by weighted shares outstanding – diluted during the applicable period.
  • Free cash flow consists of GAAP cash flows provided by operating activities in the applicable period, net of capital expenditures and capitalized software costs, including those incurred by businesses presented as discontinued operations.

Acquisition-Related Deferred Revenue Adjustments. Deferred revenue adjustments include acquisition-related deferred revenue adjustments, which reflect the fair value adjustments to deferred revenue acquired in a business acquisition. The fair value of acquired deferred revenue represents an amount equivalent to the estimated cost plus an appropriate profit margin, to perform services related to the acquiree’s software and product support, which assumes a legal obligation to do so, based on the deferred revenue balances as of the acquisition date. Allscripts adds back acquisition-related deferred revenue adjustments for its non-GAAP financial measures because it believes the inclusion of this amount directly correlates to the underlying performance of Allscripts operations.

Acquisition-Related Amortization. Acquisition-related amortization expense is a non-cash expense arising primarily from the acquisition of intangible assets in connection with acquisitions or investments. Allscripts excludes acquisition-related amortization expense from non-GAAP gross profit, non-GAAP operating income, and non-GAAP net income because it believes (i) the amount of such expenses in any specific period may not directly correlate to the underlying performance of Allscripts business operations and (ii) such expenses can vary significantly between periods because of new acquisitions and full amortization of previously acquired intangible assets. Investors should note that the use of these intangible assets contributed to revenue in the periods presented and will contribute to future revenue generation, and the related amortization expense will recur in future periods.

Stock-Based Compensation Expense. Stock-based compensation expense is a non-cash expense arising from the grant of stock-based awards. Allscripts excludes stock-based compensation expense from non-GAAP gross profit, non-GAAP operating income, non-GAAP net income and Adjusted EBITDA because it believes (i) the amount of such expenses in any specific period may not directly correlate to the underlying performance of Allscripts business operations and (ii) such expenses can vary significantly between periods as a result of the timing and valuation of grants of new stock-based awards, including grants in connection with acquisitions. Investors should note that stock-based compensation is a key incentive offered to employees whose efforts contributed to the operating results in the periods presented and are expected to contribute to operating results in future periods, and such expense will recur in future periods.

Impairments. Impairments reflect non-cash charges related to the retirement of hosting assets, the abandonment of a lease, our decision to discontinue several software development projects and the impairment of several intangible assets.

Restructuring and Other Costs. Restructuring and other costs relate to certain legal proceedings and investigations, consulting, severance, incentive compensation and other charges incurred in connection with activities that are considered not reflective of our core business.

Allscripts excludes restructuring and other costs, in whole or in part, from non-GAAP gross profit, non-GAAP operating income, non-GAAP net income and Adjusted EBITDA because it believes (i) the amount of such expenses in any specific period may not directly correlate to the underlying performance of Allscripts business operations and (ii) such expenses can vary significantly between periods.

Non-Cash Charges to Interest Expense and Other. Non-cash charges to interest expense include the amortization of the fair value of the conversion option embedded in the 1.25 percent Cash Convertible Notes and 0.875 percent Convertible Notes issued by Allscripts during the second quarter of 2013 and fourth quarter of 2019, respectively.

Equity in Net loss (income) of Unconsolidated Investments. Equity in net loss (income) of unconsolidated investments represents Allscripts share of the equity earnings of our investments in third parties accounted for under the equity method, including the amortization of cost basis adjustments.

Tax Rate Alignment. Tax rate alignment aligns the applicable period’s effective tax rate to the expected annual non-GAAP effective tax rate.

Results from Businesses Reported as Discontinued Operations. Results from businesses reported as discontinued operations reflect results from EPSi and CarePort Health which were both divested in the fourth quarter of 2020. These results are added back to GAAP results to provide more insight into how the company performed while these businesses were owned.

Management also believes that non-GAAP revenue, gross profit, gross margin, income from operations, effective income tax rate, net income, diluted earnings per share, Adjusted EBITDA, Adjusted EBITDA margin and free cash flow provide useful supplemental information to management and investors regarding the underlying performance of Allscripts business operations. Acquisition accounting adjustments and restructuring and other costs made in accordance with GAAP can make it difficult to make meaningful comparisons of the underlying operations of the business without considering the non-GAAP adjustments provided and discussed herein.

Management also uses this information internally for forecasting and budgeting, as it believes that these measures are indicative of core operating results. In addition, management may use non-GAAP gross profit, operating income, net income, diluted earnings per share, Adjusted EBITDA and/or Adjusted EBITDA margin to measure achievement under Allscripts stock and cash incentive compensation plans. Note, however, that non-GAAP gross profit, operating income, net income, diluted earnings per share, Adjusted EBITDA and Adjusted EBITDA margin are performance measures only, and they do not provide any measure of cash flow or liquidity. Allscripts considers free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business after capital expenditures and capitalized software costs. Free cash flow provides management and investors a valuable measure to determine the quantity of capital generated that can be deployed to create additional shareholder value by a variety of means. Non-GAAP financial measures are not in accordance with, or an alternative for, measures of financial performance prepared in accordance with GAAP and may be different from non-GAAP measures used by other companies. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Allscripts results of operations as determined in accordance with GAAP. Investors and potential investors are encouraged to review the definitions and reconciliations of non-GAAP financial measures with GAAP financial measures contained within the attached condensed consolidated financial statements.

Investors:

Stephen Shulstein

312-386-6735

stephen.shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare, LLC

02/18/2021

President of Israel Reuven Rivlin Visits Allscripts Office in Beer Sheva

The Company hosted President Reuven Rivlin and Mayor of Beer Sheva, Mr. Ruvik Danilovich, to discuss the Allscripts dbMotion™ Solution’s role in connecting all clinical venues across Israel

CHICAGO–(BUSINESS WIRE)–Feb. 18, 2021–
Allscripts Healthcare Solutions, Inc. (Nasdaq:MDRX) recently hosted Mr. Reuven Rivlin, President of Israel, and the Mayor of Beer Sheva, Mr. Ruvik Danilovich, at its office in Beer Sheva, Israel. The two, along with Allscripts leadership, discussed how Allscripts interoperability solution, dbMotion, connects all clinical venues in Israel, as well as the impact the solution has had during the pandemic. With 30 health organizations across the country connected to a nationwide network, epidemiologic research capabilities immensely improved, enabling the Ministry of Health and the hospitals to better cope with the crisis. The President visited after he spent time at the Soroka Hospital in Beer Sheva, where dbMotion was first implemented.

During the event, Nir Weiss, Allscripts Director, International Professional Services, and Gabi Joffe, Allscripts Israel Site Leader, presented the successes healthcare organizations have had with the solution in the country and the specific developments and dashboards Allscripts introduced specifically for COVID-19 tracking. Leaders in the Israel office shared their personal experiences as well, including their motivation for working in healthcare, what Allscripts has accomplished in Beer Sheva specifically, and how the company strives to be inclusive and culturally aware of all populations.

Allscripts dbMotion™ Solution has been delivering clinically relevant, meaningful interoperability for many years. With dbMotion, which enables the sharing of data across different EHR systems regardless of vendor, clinicians can engage their care teams and improve access to real-time, harmonized information from across the care continuum. Used around the world in the United States, Australia, Canada, United Kingdom and Israel, the solution leverages and shares data assets, achieving safer high-quality clinical outcomes.

Every month the following volumes are enabled:

  • 14M+ unique patient transactions are received in dbMotion
  • 31,000+ providers and 128,000+ users interact with dbMotion
  • 2,700+ ambulatory and post-acute facilities transmit data with dbMotion
  • 1,000+ hospitals transmit data with dbMotion

“The Coronavirus challenge is a big numbers challenge – a complicated challenge of estimates, forecasts, models and calculations. Cooperation and sharing of information are essential. Through joining forces, you at dbMotion provide solutions for the challenges of the data and information era we are living in. Despite your global commitments during these trying times, you have found it within yourselves to look inwards and ask what you can do for the national struggle against the Coronavirus. The fact that you are located in the Capital of the Negev is yet another expression of that Israeli spirit – a spirit harnessing professionalism and innovation for our national goals,” said President Reuven Rivlin.

“It was a true honor to welcome President Reuven Rivlin and Mayor Ruvik Danilovich to the Allscripts office in Beer Sheva,” said Paul Black, Allscripts Chief Executive Officer. “We were pleased to have the opportunity to share the work Allscripts is doing to collect, integrate and display information for tracking and learning about COVID-19. We’re proud to partner with Israel to support effective healthcare delivery to its population, especially during such an unprecedented time.”

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare Solutions, Inc.

02/17/2021

Pulse8’s Qualit8 Solution receives NCQA Measure Certification Program™ for HEDIS® MY 2020 Season

Certification to deliver value and administrative efficiency to Pulse8 customers

ANNAPOLIS, Md.–(BUSINESS WIRE)–Feb. 17, 2021–
Pulse8, a Veradigm® business, is thrilled to announce MY 2020 Measure Certification from the National Committee for Quality Assurance (NCQA) for Qualit8. This demonstrates an extension of its product portfolio by combining its proven Quality Improvement Analytics (Qualit8™) with an NCQA-Certified HEDIS® Measurement & Reporting Software and HEDIS® Submission system (Qualit8™ Platinum) that will deliver value and administrative efficiency to its health plan customers.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210217005280/en/

Pulse8’s NCQA-Certified HEDIS MY 2020 Measures will provide the following value within the Qualit8 solution:

  • Process all HEDIS MY 2020 measures
  • Support MRR Hybrid Measure Sample Frames
  • Support Survey Sample Frames
  • And much more…

“Pulse8 is committed to our priority of bringing industry-leading, transparent analytics to your plan and is excited to announce our new NCQA Certification of Qualit8,” says Co-President and Chief Product Officer, Courtney Yeakel. “Our focus continues to be on eliminating unnecessary interventions that deliver little value and waste precious time and resources, so you can focus your energy on what matters.”

You can learn more about Qualit8 Certification and Pulse8’s full suite of products at https://pulse8.com/.

NCQA is a private, non-profit organization dedicated to improving health care quality. NCQA Measure Certification Program™ is a trademark of the National Committee for Quality Assurance (NCQA). HEDIS® is a registered trademark of the of the National Committee for Quality Assurance (NCQA).

About Pulse8

Pulse8 is a Healthcare Analytics and Technology business delivering visibility into the efficacy of your Risk Adjustment, Quality, and Pharmacy Benefit Management programs. We enable health plans and providers to eliminate waste and achieve the greatest financial impact in the Medicare Advantage, Medicaid, and ACA Commercial markets as well as with Value-Based Payment models for Medicare. Our advanced analytic methodologies and flexible business intelligence tools offer real-time visibility into member behavior and provider performance. For more information or to schedule a demo, please Info@Pulse8.com.

About Veradigm® 

Veradigm® is a business unit of Allscripts, dedicated to simplifying the complicated healthcare system with next-generation healthcare solutions. An integrated clinical technology team combining data-driven clinical insights with actionable tools to help healthcare stakeholders improve the quality, efficiency, and the value of healthcare, Veradigm is helping transform healthcare for biopharma, health plans, healthcare providers, health technology partners, and most importantly, the patients they serve. To learn more, visit www.veradigm.com.

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

For more information contact:

John Cover

602-315-5206

John.Cover@Pulse8.com

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

02/12/2021

Allscripts to Release Fourth-Quarter and Full Year 2020 Financial Results February 25

CHICAGO–(BUSINESS WIRE)–Feb. 12, 2021–
Allscripts Healthcare Solutions, Inc. (Nasdaq:MDRX) will report its financial results for the three months and full year ended December 31, 2020 after the close of stock market hours on Thursday, February 25, 2021. Allscripts management plans to host a conference call and webcast to discuss the company’s earnings at 4:30 p.m. Eastern Time that same day.

Fourth-Quarter and Full Year 2020 Financial Results Call Details

The Allscripts earnings announcement will be distributed immediately after the close of regular stock market hours on Thursday, February 25, 2021. The announcement will also be available at Allscripts investor relations website.

To listen to the conference call, participants may log onto the Allscripts Investor Relations website. Participants also may access the conference call by dialing (877) 269-7756 or (201) 689-7817 and requesting Conference ID # 13715828.

A replay of the call will be available approximately two hours after the conclusion of the call, for a period of four weeks, on the Allscripts investor relations website or by calling (877) 660-6853 or (201) 612-7415 – Conference ID # 13715828.

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare Solutions, Inc.

01/27/2021

Allscripts Collaborates With Microsoft, MATTER and ARC Innovation Center at Sheba Medical Center to Discover New Innovations

DeepScribe selected as winner for the Reimagining Care Delivery Developer Challenge

CHICAGO–(BUSINESS WIRE)–Jan. 27, 2021–
Allscripts Healthcare Solutions (NASDAQ: MDRX), MATTER, Microsoft and ARC Innovation Center at Sheba Medical Center hosted a challenge in December for health IT developers focused on reimagining care delivery. 2020 marked 200 years since the trailblazing social reformer and nurse Florence Nightingale was born, and in honor of the mark she left on healthcare, the World Health Organization named 2020 the International Year of the Nurse and Midwife. With her legacy in mind, Allscripts and its partners hosted the virtual pitch competition.

During the event, eight organizations addressed the question, “How might we use technology and innovative solutions to create the electronic health record of the future to reduce the burden on nurses?” The startups presented their ideas and engaged in Q&A with a panel of Allscripts leaders, including Hospital and Health System Vice President Paul Minton, RN, and Vice President and Chief Experience Officer, Jenna Date. Other judges included Kathleen McGrow DNP, MS, RN, PMP Chief Nursing Information Officer at Microsoft and Lital Shnaiderman, Business Development at ARC Innovation Center.

The judges selected DeepScribe, a company that developed an AI-powered medical scribe that can produce comprehensive clinical documentation directly in the EHR, as the Reimagining Care Delivery Developer Challenge winner. It will receive waived Allscripts Developer Program partner fees, marketing benefits with Allscripts, two Microsoft Surface Go tablets, the opportunity to pitch its solution to experts from ARC Innovation Center at Sheba Medical Center’s network, a free year of the Allscripts-ARC Innovation Center at Sheba Medical Center’s private sandbox and more.

“Driving healthcare delivery forward has always required embracing the spirit of innovation, and Allscripts was pleased to host this challenge and hear the participants’ fresh, exciting ideas,” said Minton. “We look forward to nurses, doctors and other healthcare providers using DeepScribe’s functionality to make documentation easier.”

Jenna Date adds, “Congratulations to everyone who took part—I’m looking forward to seeing how you shift the healthcare industry in the years to come.”

“At Microsoft, we believe the future of healthcare is an interoperable one, and collaboration between innovators will be essential,” said Kathleen McGrow, chief nursing information officer at Microsoft. “We applaud the event’s participants for their innovative ideas and look forward to seeing how these promising developers help drive healthcare forward in the years ahead.”

“ARC at Sheba has been a prime force in accelerating the development of new ideas and concepts to redesign healthcare as we know it,” said Dr. Eyal Zimlichman, Sheba Medical Center’s, Chief Medical and Innovation Officer. “DeepScribe has the potential to be an important player in the way we want to imagine patient encounters of the future – today.”

Watch the recording at https://youtu.be/rBrqnnr1rMs

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes a Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Investors:

Stephen Shulstein

312-386-6735

stephen.shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare Solutions

01/26/2021

Allscripts and US Orthopedic Alliance Expand Strategic Partnership, Ushering in ‘The Gold Standard’ For Orthopedic Technology Platforms

CHICAGO–(BUSINESS WIRE)–Jan. 26, 2021–
Allscripts Healthcare Solutions (NASDAQ: MDRX) today announced a strategic technology partnership with US Orthopedic Alliance (USOA), an orthopedic management services provider based in Southern California, to support USOA’s growth and pursue additional relationships with leading orthopedic providers nationwide. The partnership will bring to market best-of-breed infrastructure designed to help orthopedic practices scale with agility, improve EHR implementation timelines, provide evidence-based guidelines to support evolving clinical protocols, and create community-wide connectivity with value-based care analytics.

The selection of USOA’s proprietary, data-driven platform is the result of an expansive vetting process of orthopedic management services providers by the Allscripts team.

“Combining the extensive industry expertise of USOA with Allscripts’ vast technology expertise and broad use in the independent physician space creates a compelling platform for orthopedic practitioners that want to access health information technology solutions only the largest health systems could afford,” said Leah Jones, SVP and general manager of Allscripts’ ambulatory business unit. “We couldn’t be more excited to work with the USOA team in building an exceptional, accessible, and scalable orthopedic services technology platform.”

USOA currently provides industry-leading management services to a network of more than 100 orthopedic surgeons, 12 ambulatory surgery centers and one specialty hospital. Physician members benefit from USOA’s superior business intelligence solutions, including revenue cycle management, contracting, risk management, and value-based care services such as infrastructure, technology, and data analytics.

“USOA has rapidly grown its market position by providing orthopedic practices with specialty-specific services to manage and grow their practice while enhancing the patient experience,” said Rick Salas, chief executive officer of USOA. “Our network has been asking about USOA’s ability to deliver an open, unifying and enabling technology platform to support independent orthopedic practices. The USOA/Allscripts deployment is an ideal fit for our network to support and empower their growth.”

John Kang, chief strategy officer of USOA, added, “Together, Allscripts and USOA are committed to supporting physicians to build profitable, patient-centric practices. We look forward to working closely with Allscripts’ team and its high-performing ambulatory business unit.”

About Allscripts 

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes a Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Investors:

Stephen Shulstein

312-386-6735

stephen.shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

01/25/2021

Allscripts Sunrise™ to be extended across Gippsland

CHICAGO–(BUSINESS WIRE)–Jan. 25, 2021–
The Gippsland Health Alliance (GHA) has announced plans for the expansion of its Allscripts Sunrise™ electronic health record (EHR) across the Victoria, Australia region of Gippsland. Phase 3 of GHA’s EHR Community Health project will see the implementation of the Sunrise Emergency Care module (within the Sunrise EHR platform of health) at the emergency department facilities of the Central Gippsland Health Service, Bairnsdale Regional Health Service (servicing east Gippsland), West Gippsland Healthcare Group and Bass Coast Health, which covers the southern part of the region. Sunrise will then be rolled out across inpatient services at all four hospitals.

In October last year, Allscripts (NASDAQ: MDRX) completed the rollout of its Sunrise EHR platform at the Latrobe Regional Hospital (LRH). The EHR went live in the Latrobe 30-bed ED in April 2019 and is now fully functional across inpatient services at LRH and Community Mental Health services across the region. LRH is Gippsland’s specialist referral and trauma centre, located approximately 93 miles east of Melbourne, and is one of the region’s largest employers, with more than 2,100 staff. It is a purpose-built 300-plus-bed teaching hospital caring for a population of more than 260,000 people.

Latrobe is the health-IT company’s first implementation of its EHR solution in Victoria and is also one of the first EHRs in Australia to use Microsoft Azure. The cost efficiency, flexibility and resilience associated with cloud-based systems was a driving force behind the decision by other members of the alliance to extend the Sunrise EMR platform across Gippsland.

Todd Haebich, General Manager of Allscripts Australia, said that the extension of Sunrise reflects international best practice by enabling a continuum of care across the region of Gippsland.

“This is the first step towards establishing a connected health community across a large and well-populated area and we are delighted to be supporting the Gippsland Health Alliance’s vision,” explained Mr. Haebich. “When clinicians have information on a patient’s health status and history they can make more informed decisions and provide a higher quality of care whilst also optimizing scarce resources.”

Jon Millar, Chief Information Officer of the Gippsland Health Alliance, said that Phase 3 of the EHR Community Health project will extend the proven benefits of an EHR to the entire Gippsland region.

“This is about improving the quality of health service across a much bigger footprint in the Gippsland region and helps us deliver on our commitment to empower clinicians to deliver a world-class service,” explained Mr. Millar.

The Gippsland Health Alliance (GHA) is a consortium of publicly funded health services in the Gippsland region of Victoria, east of Melbourne, covering some 16,045 square miles. Allscripts won the competitive tender to deliver an EHR solution to the Gippsland Health Alliance in late 2017 and Latrobe Regional Hospital (LRH) was selected as the first site in the Alliance to implement the Sunrise EHR clinical suite.

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

01/08/2021

Allscripts to Present at the 2021 J.P. Morgan Virtual Healthcare Conference

CHICAGO–(BUSINESS WIRE)–Jan. 8, 2021–
Allscripts (NASDAQ: MDRX) today announced that certain members of its management team will present at the 2021 J.P. Morgan Virtual Healthcare conference on Tuesday, January 12 at 2:50 pm ET.

The live webcast and replay can be accessed at http://investor.allscripts.com under the “Events and Presentations” section of the website.

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

01/04/2021

Allscripts Closes Previously Announced Sale of CarePort Health Business

CHICAGO–(BUSINESS WIRE)–Jan. 4, 2021–
On December 31, 2020, Allscripts (NASDAQ: MDRX) closed the previously announced sale of its CarePort Health business to WellSky® Corporation for $1.35 billion. CarePort solutions assist hundreds of hospitals and thousands of post-acute care providers to efficiently coordinate and transition patients through different settings of care.

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers and consumers to make better decisions, delivering better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

12/17/2020

Allscripts Moves Quickly to Support Clients in COVID-19 Vaccine Administration

Company offers guidance to track and report vaccine administration to the CDC

CHICAGO–(BUSINESS WIRE)–Dec. 17, 2020–
Allscripts Healthcare Solutions (NASDAQ MDRX) is dedicating extensive resources to ensure its clients are prepared to maximize functionality within its solutions to respond to the COVID-19 pandemic.

Allscripts has collaborated with public health officials at all levels, including the United States Department of Health and Human Services (HHS), the Centers for Disease Control and Prevention (CDC), and the American Immunization Registry Association (AIRA) to address the urgent need to capture and report vaccine administration. Since 2011, Allscripts Electronic Health Record (EHR) solutions have supported vaccine administration, associated reminders and reporting to state immunization registries in compliance with the Office of the National Coordinator for Health Information Technology (ONC) certification requirements.

In addition, in consideration of the new requirements associated with COVID-19 vaccinations, Allscripts is delivering capabilities to clients that include orders, billing, reporting, allergy/intolerance/adverse events and second-dose reminders, and importantly, data that can be uploaded with the new vaccine information. New CPT codes and relevant medications will also be addressed. Allscripts has also implemented functionality to ensure that clients can document the first administered vaccines in their Allscripts EHRs, with no need to use other external databases or disparate data logged into spreadsheets.

“As has been the case for nearly two decades, Allscripts has proven that it is a trusted partner in helping us provide exceptional care to our patients during this challenging pandemic,” said Jim West, PIH Health System President and Chief Executive Officer. “We know Allscripts is by our side in tackling the critically important health IT-managed tasks related to the COVID-19 vaccine administration.”

“Through the course of the pandemic, Allscripts has collaborated with HHS, the CDC, state governments, public health organizations and others to best prepare our clients for the challenges associated with delivering care during the COVID-19 pandemic, which now happily includes vaccine administration tasks,” said Allscripts Chief Executive Officer, Paul Black. “We’re working together to deliver solutions that provide our clients with the information and decision support tools they need at the point of care, recognizing the incredible challenge facing the country to inoculate hundreds of millions of people against the virus in as short a time as humanly feasible. Allscripts is committed to assisting our clients in increasing the vaccination coverage and eagerly answering our collective obligation to better arm our caregivers in the fight against the spread of COVID-19.”

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes a Community: The Allscripts Blog.

© 2020 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Investors:

Stephen Shulstein

312-386-6735

stephen.shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare Solutions

12/16/2020

Allscripts Sunrise™ 20.0 Now Generally Available

New version of Sunrise electronic health record can run on Microsoft Azure and supports new enhancements, user experience updates and new performance improvements

CHICAGO–(BUSINESS WIRE)–Dec. 16, 2020–
Allscripts Healthcare Solutions (NASDAQ: MDRX) announced that Sunrise 20.0 is now generally available. Sunrise is a comprehensive platform of health that connects all aspects of care, including acute, ambulatory, surgical, pharmacy, radiology and laboratory services, and also features an integrated revenue cycle and patient administration system. Sunrise is a clinician-friendly, evidence-based single platform with integrated analytics that helps deliver better health outcomes in hospitals around the world.

“Through listening to our global client base and fully understanding their needs, we’ve developed and delivered the latest version of Sunrise for the entire continuum of care,” said Lisa Khorey, Executive Vice President and Client Delivery Officer. “This exciting release includes the choice to move to hosting in Microsoft Azure combined with more than 150 new enhancements, three user experience updates and more than 35 new performance improvements.”

Some of the new features in Sunrise 20.0 include:

  • New modern RxWriter, which streamlines workflows and reduces physician burden
  • M*Modal Clinical Documentation integration
  • Sunrise™ Surgical Hub enhancements
  • Free text documentation with voice recognition in Sunrise™ Mobile
  • Aware Note Default Theme enhancements
  • Sunrise™ Financial Manager updates and enhancements
  • Sunrise™ Enterprise Scheduling enhancements, which offer re-order appointments in one click
  • OCR scanning for insurance card in Sunrise™ Enterprise Registration
  • Sunrise Patient Financial Manager updates and enhancements

“By enabling an end-to-end healthcare IT platform through the power of Microsoft Azure, organizations can transform from using an EHR to optimizing efficiencies with a true health platform,” said Patty Obermaier, Vice President of US Health & Life Sciences at Microsoft. “Using the value of Sunrise solutions with the collaboration of Microsoft, Allscripts clients can improve organizational performance, cybersecurity, interoperability and the patient experience for their organizations.”

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes a Community: The Allscripts Blog.

© 2020 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Investors:

Stephen Shulstein

312-386-6735

stephen.shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare Solutions

12/01/2020

Allscripts Announces $200 Million Accelerated Share Repurchase

CHICAGO–(BUSINESS WIRE)–Dec. 1, 2020–
Allscripts Healthcare Solutions (NASDAQ: MDRX) today announced that as part of its capital return program it has entered into accelerated share repurchase (“ASR”) transactions with each of JPMorgan Chase Bank, National Association and Wells Fargo Bank, National Association to repurchase an aggregate of $200 million of its common stock.

“The accelerated share repurchase demonstrates our commitment to delivering near-term value to our shareholders, our strong liquidity position and our confidence in the long-term strategy and earnings potential of Allscripts,” said Rick Poulton, Allscripts President and Chief Financial Officer.

Under the terms of the ASR transactions, Allscripts will receive an aggregate initial share delivery of approximately 11.7 million shares, with the remainder, if any, delivered upon completion of the transactions. The purchase price per share under each ASR transaction is expected to be based on the volume-weighted average price of Allscripts’ common stock during the term of the ASR, less a discount. The exact number of shares repurchased pursuant to each ASR transaction will be determined based on such purchase price.

The ASR transactions were entered into pursuant to Allscripts’ existing share repurchase program. Allscripts previously announced that its Board of Directors had approved a new share repurchase program under which Allscripts may purchase up to $300 million of its common stock through December 31, 2021. After taking into account prior open market purchases and the $200 million of shares to be repurchased under these ASR transactions, Allscripts expects to have approximately $67 million of remaining share repurchase authorization available.

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes a Community: The Allscripts Blog.

© 2020 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Statements regarding future events or developments, our future performance, as well as management’s expectations, beliefs, intentions, plans, estimates or projections relating to the future are forward-looking statements with the meaning of these laws. These forward-looking statements are subject to a number of risks and uncertainties. As a result, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on our results of operations or financial condition. See our Annual Report on Form 10-K for 2019 and other public filings with the SEC for a further discussion of these and other risks and uncertainties applicable to our business. The statements herein speak only as of their date and we undertake no duty to update any forward-looking statement whether as a result of new information, future events or changes in expectations.

Investors:

Stephen Shulstein

312-386-6735

stephen.shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare Solutions

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