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01/30/2023

Veradigm® Network EHR Data is Now Available in the Observational Medical Outcomes Partnership (OMOP) Common Data Model (CDM) Format

New delivery format for three integrated electronic health record (EHR) sources to provide delivery flexibility for Veradigm clients

CHICAGO–(BUSINESS WIRE)–Jan. 30, 2023–
Veradigm (NASDAQ: MDRX) announced today that Veradigm Network EHR Data is now available within the OMOP CDM format. Veradigm Network EHR is a complete statistically deidentified dataset containing three integrated EHR sources. This source dataset is now available in the OMOP CDM version 5.3.1.

Veradigm Network EHR Data contains more than 170 million patients and provides deidentified, real world data from an extensive national population of patients drawn from physician practices using a variety of EHR products. Veradigm Network EHR Data is built from ambulatory EHRs—where most of the care and patient record generation happens in the United States. It is one of the largest EHR data sets available and is designed for research purposes.

“The transformation of Veradigm Network EHR Data into the OMOP data set will facilitate data sales for clients who need the data delivered in OMOP format,” said Stuart Green, Senior Vice President and General Manager of Veradigm. “This new delivery format will provide the flexibility our clients need so they can answer research questions critical to their business.”

The OMOP CDM is an open community data standard, designed to standardize the structure and content of real-world data. Standardized systematic analytics can be applied to the CDM data, enabling efficient analyses and reliable evidence. The OMOP CDM is maintained by the Observational Health Data Sciences and Informatics (OHDSI) collaborative, a multi-stakeholder, inter-disciplinary effort to bring out the value of observational health data through large-scale analytics. OHDSI maintains an open-source library of analytical tools for research and performance measurement using the OMOP CDM.

Veradigm’s Evalytica® platform, a real-world evidence analytics application will now fully integrate with the Veradigm Network EHR OMOP data and enable cost effective, transparent, and efficient analysis of this real-world data. Both internal and external user groups will now be able to use Veradigm Evalytica to build code sets, define re-usable cohorts and conduct analysis on OMOP’d Veradigm Network EHR Data.

About Veradigm®

Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube

© 2023 Veradigm Inc. and/or its affiliates. All Rights Reserved.

Investors:

Jenny Gelinas

312-506-1237

jenny.gelinas@veradigm.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@veradigm.com

Source: Veradigm

01/11/2023

Veradigm Announces New Share Repurchase Program and Initial Financial Guidance for Fiscal 2023

CHICAGO–(BUSINESS WIRE)–Jan. 11, 2023–
Veradigm Inc. (NASDAQ: MDRX), formerly Allscripts Healthcare Solutions, Inc., announced today that its Board of Directors has approved a new share repurchase program under which Veradigm may purchase up to $250 million of its common stock. The new share repurchase program does not have a termination date and replaces the previous authorization to repurchase $250 million of common stock which was almost fully utilized during 2022. In the fourth quarter of 2022 Veradigm repurchased $57 million of its common stock, bringing its full year total to $234 million.

The company also introduced initial financial guidance for Fiscal 2023 as follows:

  • Revenue is expected between $640 million and $660 million
  • Non-GAAP earnings per share is expected between $0.90 and $1.00

The company will report its financial results for the three and twelve months ended December 31, 2022 after the close of the regular stock market hours on Thursday, February 23, 2023. Veradigm 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.

To listen to the conference call, participants may log onto the Veradigm Investor Relations website. Participants also may access the conference call by dialing 877-269-7756 or 201-689-7817 and requesting Conference ID # 13735356.

A replay of the call will be available for a period of a year on the Veradigm investor relations website.

About Veradigm®

Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube

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 2023 outlook. These forward-looking statements are based on the current beliefs and expectations of Veradigm 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,” “look forward,” “pipeline,” “aim” 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 our actual results to differ materially from those described in the forward-looking statements include, but are not limited to: our ability to achieve the growth strategy, if at all; 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; investigations and proceedings from governmental entities or third parties other than the DOJ related to the same or similar conduct underlying the DOJ’s prior investigations into Practice Fusion’s business practices; our ability to recover from third parties (including insurers) any amounts paid in connection with Practice Fusion’s settlement agreements with the DOJ and related inquiries; risks associated with the disposition of our Hospitals and Large Physician Practices Business; 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 former Enterprise Information Solutions business; other risks associated with investments and acquisitions; 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; market acceptance of 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; the performance of our products; our ability to protect our intellectual property rights; the outcome of legal proceedings involving us; our ability to hire, retain and motivate key personnel, including the impact of generalized labor shortages; 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; asset and long-term investment impairment charges; and inflationary pressures and macroeconomic volatility, including impacts related to the COVID-19 pandemic. 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 Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Qs. We do 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 our business, financial condition or operating results over time.

© 2023 Veradigm Inc. and/or its affiliates. All rights reserved.

Investors:

Jenny Gelinas

312-506-1237

jenny.gelinas@veradigm.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@veradigm.com

Source: Veradigm Inc.

01/10/2023

Veradigm Building Momentum Across All Markets

CHICAGO–(BUSINESS WIRE)–Jan. 10, 2023–
Veradigm Inc. (NASDAQ: MDRX) reports today strong fourth quarter new business results across all markets including the payer, life science, and provider markets.

The Veradigm Payer business added 6 net-new regional and national payer clients in Q4, representing +26% new business growth for the full year, along with expanding business among current clients, worth millions of dollars in total annual contract value. As healthcare evolves toward interoperability, Veradigm’s interoperability focused solutions are leading this effort among payers.

In the Veradigm Provider market, the company added 30 new revenue cycle management clients in the fourth quarter, contributing to over 200 percent year-over-year client growth. Additionally, the company’s clinical solutions continued to experience growth in the fourth quarter, adding a total of 484 new practices, across all solutions including many multi-specialty practices.

Veradigm Life Science continues to expand the utilization of its significant de-identified patient dataset with top tier life science companies, and commercial partners. During the fourth quarter more than 20 data, research study, and media agreements were signed. This momentum is partially being driven via the Veradigm Network and its strategic partnership with HealthVerity, a leader in privacy-protected data exchange.

As the Veradigm Network expands, Veradigm continues to integrate offerings to drive improved clinical and financial outcomes for its clients.

“Veradigm is well-positioned for growth because we offer unmatched connectivity, scale, data and expertise that is needed to address the challenges faced by healthcare providers, payers and the life sciences alike,” said Tom Langan, Veradigm President and Chief Commercial Officer.

About Veradigm®

Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube

© 2023 Veradigm Inc. and/or its affiliates. All Rights Reserved.

Investors:

Jenny Gelinas

312-506-1237

jenny.gelinas@veradigm.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@veradigm.com

Source: Veradigm Inc.

01/09/2023

Veradigm Announces Strategic Investment in Holmusk

This collaboration fuels the expansion of a leading source of real-world clinical behavioral health data

CHICAGO–(BUSINESS WIRE)–Jan. 9, 2023–
Veradigm Inc. (NASDAQ: MDRX), formerly Allscripts Healthcare Solutions, Inc., announced today an investment in Holmusk, a global behavioral health real-world evidence and data analytics company, as part of Holmusk’s $45 million series B financing round. The round was led by Veradigm, with participation from current investors including Heritas Capital, Health Catalyst Capital, Novartis (dRx Capital), and Northwell Holdings, the venture investment arm of Northwell Health, as well as other previous investors.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230109005849/en/

Holmusk will leverage this investment to continue its rapid expansion of its flagship offering, the NeuroBlu Database—a leading source of real-world clinical data for the behavioral health industry.

Now that the financing has been completed, Veradigm and Holmusk intend to enter into a data partnership to bring cohorts of behavioral health and related de-identified patient data from Veradigm to the NeuroBlu Database, significantly adding to Holmusk’s real-world clinical data asset.

“Mental and behavioral health is a serious global health problem that has only increased during and post the COVID-19 pandemic,” said Rick Poulton, Veradigm Chief Executive Officer. “Holmusk has proven expertise to create the evidence needed to improve mental health. We are proud to equip the company with the resources needed to advance this important work.”

“This investment will enable our team to continue its work in curating and enhancing data as we plan to build the world’s largest platform for behavioral health data,” said Nawal Roy, Holmusk Founder and CEO. “We remain laser-focused on this mission because we know that quality data leads to improved evidence, which leads to better health outcomes.”

“We feel fortunate to form a partnership with Veradigm, a company that shares our vision for the transformative power that data can have in health care,” said Michael Weintraub, Chair of the Holmusk Board. “Working collaboratively will help us to deepen our investment in the behavioral health space and make a broader impact.”

About Veradigm®

Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube.

About Holmusk

Holmusk is on a mission to harness real-world data to transform both research and care for behavioral health. Combining the leading behavioral health database with AI-powered analytics and digital solutions designed to address the most pressing challenges in behavioral health, Holmusk is advancing the frontier of evidence generation and fueling innovation. Holmusk is headquartered in New York and Singapore, with three additional offices around the world. For more information, please visit www.holmusk.com.

© 2023 Veradigm Inc. and/or its affiliates. All Rights Reserved.

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 the beliefs, intentions or goals of Veradigm and Holmusk. These forward-looking statements are based on current beliefs and expectations, only speak as of the date that they are made, and are subject to significant and inherent 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. Certain factors that could cause the results described in this release to differ materially from those described in the forward-looking statements include, but are not limited to, the ability of Veradigm and Holmusk to enter into a definitive agreement relating to the data partnership described herein. Veradigm 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.

Investors:

Jenny Gelinas

312-506-1237

jenny.gelinas@veradigm.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@veradigm.com

Kaitlin Jansen

704-995-2384

kaitlin.jansen@holmusk.com

Source: Veradigm Inc.

01/06/2023

Veradigm to Present at the 2023 J.P. Morgan Healthcare Conference

CHICAGO–(BUSINESS WIRE)–Jan. 6, 2023– Veradigm Inc. (Nasdaq:MDRX), formerly Allscripts Healthcare Solutions Inc., announced today that Rick Poulton, Veradigm Chief Executive Officer, will present at the 2023 J.P. Morgan Healthcare conference on Wednesday, January 11, 2023 at 3:45 PST.

The live audio webcast and replay can be accessed at the J.P. Morgan public link here.

About Veradigm®

Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube

For more information contact:
Investors:
Jenny Gelinas
312-506-1237
jenny.gelinas@veradigm.com

Media:
Concetta Rasiarmos
312-447-2466
concetta.rasiarmos@veradigm.com
© 2023 Veradigm Inc. and/or its affiliates. All rights reserved.

Source: Veradigm Inc.

01/03/2023

Allscripts Announces Corporate Name Change to Veradigm Inc.

CHICAGO–(BUSINESS WIRE)–Jan. 3, 2023– Allscripts Healthcare Solutions, Inc. announced today that, effective January 1, 2023, it has changed its name to Veradigm Inc. (NASDAQ: MDRX). Allscripts had been transitioning its solutions to the Veradigm brand during 2022, and Allscripts will now formally be known as Veradigm.

The US healthcare ecosystem – including healthcare providers, biopharma, payers, and the government – is converging around the shared goal of delivering a higher quality of patient care, more economically. Transitioning away from disconnected, dysfunctional, disparate systems, healthcare stakeholders are being driven toward interoperable, open, and connected solutions. In the new healthcare landscape, community-based, diverse data derived from the point of patient care can be translated into actionable insights, driving measurable value, and supporting a higher quality of care.

Veradigm connects over 300,000 US healthcare providers via the Veradigm Network, helping to facilitate the transition to value-based care, while representing over 170 million patients. Through its significant healthcare provider base, the Veradigm Network provides life science and health plan organizations unique access to de-identified patient data, provider connectivity and analytics at scale.

After more than two years of streamlining its corporate portfolio, all remaining Allscripts assets including electronic health records, practice management systems, and patient communication platforms are now integrated into the Veradigm Network, providing the connectivity needed to realize the vision of improved patient outcomes achieved more economically.

“Some healthcare technology companies deliver clinical data for biopharma and health plans, some help turn that data into insights, others serve healthcare providers directly by providing point-of-care clinical software and patient outreach platforms, Veradigm does it all,” said Rick Poulton, Veradigm Chief Executive Officer. “As our markets continue to evolve, completing our brand transition to Veradigm represents a capstone on our own evolution as a company. We are well-positioned to drive growth and serve each market where we compete.”

About Veradigm®

Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube

© 2023 Veradigm Inc. and/or its affiliates. All rights reserved.

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 2023 outlook, our profitability initiatives, our strategic priorities and our client outcomes. These forward-looking statements are based on the current beliefs and expectations of Veradigm 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,” “look forward,” “pipeline” 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 our 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, duration and impacts of the COVID-19 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; the failure by Practice Fusion to comply with the terms of the 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 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; other risks associated with investments and acquisitions; risks associated with disposition of the Hospitals and Large Physicians Practices 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 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 Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Qs. We do 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 our business, financial condition or operating results over time.

Investors:
Jenny Gelinas
312-506-1237
jenny.gelinas@allscripts.com

Media:
Concetta Rasiarmos
312-447-2466
concetta.rasiarmos@allscripts.com

Source: Veradigm

01/03/2023

Allscripts Announces Corporate Name Change to Veradigm Inc.

CHICAGO–(BUSINESS WIRE)–Jan. 3, 2023– Allscripts Healthcare Solutions, Inc. announced today that, effective January 1, 2023, it has changed its name to Veradigm Inc. (NASDAQ: MDRX). Allscripts had been transitioning its solutions to the Veradigm brand during 2022, and Allscripts will now formally be known as Veradigm.

The US healthcare ecosystem – including healthcare providers, biopharma, payers, and the government – is converging around the shared goal of delivering a higher quality of patient care, more economically. Transitioning away from disconnected, dysfunctional, disparate systems, healthcare stakeholders are being driven toward interoperable, open, and connected solutions. In the new healthcare landscape, community-based, diverse data derived from the point of patient care can be translated into actionable insights, driving measurable value, and supporting a higher quality of care.

Veradigm connects over 300,000 US healthcare providers via the Veradigm Network, helping to facilitate the transition to value-based care, while representing over 170 million patients. Through its significant healthcare provider base, the Veradigm Network provides life science and health plan organizations unique access to de-identified patient data, provider connectivity and analytics at scale.

After more than two years of streamlining its corporate portfolio, all remaining Allscripts assets including electronic health records, practice management systems, and patient communication platforms are now integrated into the Veradigm Network, providing the connectivity needed to realize the vision of improved patient outcomes achieved more economically.

“Some healthcare technology companies deliver clinical data for biopharma and health plans, some help turn that data into insights, others serve healthcare providers directly by providing point-of-care clinical software and patient outreach platforms, Veradigm does it all,” said Rick Poulton, Veradigm Chief Executive Officer. “As our markets continue to evolve, completing our brand transition to Veradigm represents a capstone on our own evolution as a company. We are well-positioned to drive growth and serve each market where we compete.”

About Veradigm®

Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube

© 2023 Veradigm Inc. and/or its affiliates. All rights reserved.

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 2023 outlook, our profitability initiatives, our strategic priorities and our client outcomes. These forward-looking statements are based on the current beliefs and expectations of Veradigm 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,” “look forward,” “pipeline” 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 our 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, duration and impacts of the COVID-19 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; the failure by Practice Fusion to comply with the terms of the 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 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; other risks associated with investments and acquisitions; risks associated with disposition of the Hospitals and Large Physicians Practices 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 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 Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Qs. We do 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 our business, financial condition or operating results over time.

Investors:
Jenny Gelinas
312-506-1237
jenny.gelinas@allscripts.com

Media:
Concetta Rasiarmos
312-447-2466
concetta.rasiarmos@allscripts.com

Source: Veradigm

11/22/2022

Veradigm Digital Health Media Becomes the First EHR Marketing Solution to Join the Point of Care Marketing Association

Veradigm senior leadership to join board of directors

CHICAGO–(BUSINESS WIRE)–Nov. 22, 2022–
Veradigm, a business unit of Allscripts (NASDAQ: MDRX), announced today The Point of Care Marketing Association (POCMA), a nonprofit organization to support the continued growth of the Point of Care (POC) channel through education and advocacy, has welcomed Veradigm to its membership:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221122005809/en/

  • Veradigm Digital Health Media is the first EHR marketing solution to be accepted as a member of POCMA
  • Stuart Green, Senior Vice President & General Manager, Veradigm has joined POCMA’s board of directors

POCMA exists to advocate for the effective use of the point of care communication channel to advance patient healthcare outcomes. Members of the nonprofit point of care industry association work closely with brand, agency, and provider stakeholders to advocate for the channel and promote its positive impact to ensure its continued growth as a vital and innovative segment of healthcare marketing.

“POCMA is excited to have Veradigm as a member and the first within the EHR landscape,” said POCMA Executive Director, Nicole Divinagracia. “Veradigm’s platform of reaching HCPs in their workflow makes them an excellent resource for the association and its members. We look forward to their insights and involvement as we grow the POC industry.”

“At Veradigm, we share in POCMA’s goal of raising healthcare providers’ awareness through innovative point of care marketing channels,” said Stuart Green, Senior Vice President & General Manager, Veradigm. “With our membership, we look forward to contributing to the establishment of industry best practices and building connections with other point-of-care industry leaders and influencers.”

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, LinkedIn, and It Takes A Community: The Allscripts Blog.

About Veradigm®

Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. Some healthcare technology companies deliver clinical data for biopharma and health plans, some help turn that data into insights, others serve healthcare providers directly by providing point-of-care clinical software and patient outreach platforms. Veradigm does it all. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube

© 2022 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:

Jenny Gelinas

312-506-1237

Jenny.Gelinas@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

11/09/2022

Veradigm EHR Achieves 2015 ONC Health IT Update Certification

Supporting healthcare practices to successfully meet federal reporting requirements

CHICAGO–(BUSINESS WIRE)–Nov. 9, 2022–
Veradigm, a business unit of Allscripts (NASDAQ: MDRX), announced today that Veradigm EHR (formerly known as Professional EHR) has achieved 2015 ONC Health IT Update Certification.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221109005286/en/

The Office of the National Coordinator for Health Information Technology (ONC) Health IT Certification Program (Certification Program) ensures that Certified Health Information Technology meets the technological capability, functionality, and security requirements adopted by the U.S. Department of Health and Human Services (HHS). ONC approval certifies that Veradigm EHR has the functionality eligible clinicians need to successfully meet federal reporting requirements, including the latest 21st Century Cures Act regulations as well as participate in quality programs needing certified EHR technology.

Veradigm EHR is an ambulatory electronic health record (EHR) platform that is designed to support the needs of busy provider practices and allows clinicians to provide more informed patient care, streamline workflows, and improve practice profitability.

“This certification highlights Veradigm’s focus in supporting independent physician practices with advanced EHR capabilities to meet the proper government reporting and regulations,” said Tom Langan, Veradigm President and Chief Commercial Officer. “We’re proud to be among the first EHRs to achieve this milestone and are committed to working with our clients to transform healthcare and advance value, insightfully.”

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, LinkedIn, and It Takes A Community: The Allscripts Blog.

About Veradigm®

Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. Some healthcare technology companies deliver clinical data for biopharma and health plans, some help turn that data into insights, others serve healthcare providers directly by providing point-of-care clinical software and patient outreach platforms. Veradigm does it all. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube

© 2022 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:

Jenny Gelinas

312-506-1237

Jenny.Gelinas@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

11/03/2022

Allscripts announces third quarter of 2022 results
  • Third quarter consolidated revenue of $152 million
  • Third quarter consolidated operating profit up over 30% year-over-year
  • Generated $42 million of cash flow from continuing operations in the quarter

CHICAGO–(BUSINESS WIRE)–Nov. 3, 2022– Allscripts Healthcare Solutions, Inc. (Nasdaq: MDRX) (Allscripts) announced its financial results for the three and nine months ended September 30, 2022.

Third quarter 2022 Veradigm revenue was $145 million compared with $137 million in the third quarter of 2021. On a consolidated Allscripts basis third quarter 2022 revenue was $152 million compared with $145 million in the third quarter of 2021.

On a GAAP basis, Veradigm income from operations was $28 million in the third quarter of 2022 compared with $17 million in the third quarter of 2021. Veradigm Non-GAAP income from operations in the third quarter of 2022 was $34 million compared with $24 million in the third quarter of 2021. On a consolidated basis in the third quarter of 2022, GAAP income from operations was $25 million compared with income from operations in the third quarter of 2021 of $18 million. Non-GAAP income from operations in the third quarter of 2022 was $34 million compared with $26 million in the third quarter of 2021.

Veradigm Adjusted EBITDA totaled $44 million in the third quarter of 2022 compared with $35 million in the third quarter of 2021. On a consolidated basis Allscripts Adjusted EBITDA totaled $43 million in the third quarter of 2022 compared with $36 million in the third quarter of 2021.

Consolidated GAAP net income in the third quarter of 2022 totaled $15 million compared with income of $16 million in the third quarter of 2021. Non-GAAP net income in the third quarter of 2022 was $26 million compared with $27 million in the third quarter of 2021. Net income in 2021 benefited from a $12 million pretax gain related to the sale of our 2bPrecise business as well as two of our non-controlling investments.

Consolidated GAAP diluted earnings per share in the third quarter of 2022 and 2021 was $0.12. Non-GAAP diluted earnings per share in the third quarter of 2022 were $0.23 compared with $0.21 in the third quarter of 2021.

Stock repurchases totaled $34 million in the third quarter of 2022.

“Our unique business continued to drive unique results as we once again reported strong year-over-year growth in revenue, gross profit, Adjusted EBITDA, and free cash flow. These results come from our team executing on our goal to drive better outcomes for patients by delivering insights and efficiencies for our customers,” said Rick Poulton, Allscripts Chief Executive Officer.

2022 Financial Outlook(1)

Allscripts is affirming its prior annual outlook and currently expects to achieve:

  • Veradigm revenue growth year-over-year between 6% to 7%
  • Veradigm Adjusted EBITDA growth year-over-year between 10% to 15%
  • Free cash flow from continuing operations between $110 million to $120 million.
 

Conference Call

Allscripts will conduct a conference call today, Thursday, November 3, 2022, 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 (210) 689-7817 (international) and requesting Conference ID # 13733727.

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.

Supplemental and non-GAAP financial information is also available at http://investor.allscripts.com.

Footnote

(1)

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 operating income and operating cash flow such as depreciation and amortization expense, and transaction and other costs, any of which may be significant, are 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 financial measures, see the non-GAAP financial reconciliation tables in this release (Tables 4 through 10).

NOTE: All percentage changes described within this press release are calculated from full dollar amounts as illustrated in the accompanying financial statements 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, LinkedIn, and It Takes A Community: The Allscripts Blog.

© 2022 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 2022 outlook, our profitability initiatives, our strategic priorities and our client outcomes. 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,” “look forward,” “pipeline,” “aim” 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 our actual results to differ materially from those described in the forward-looking statements include, but are not limited to: our use of proceeds from the disposition of our Hospitals and Large Physician Practices Business; our ability to achieve the margin targets associated with our profitability initiatives within the contemplated time periods, if at all; the continued impact of the COVID-19 pandemic, including 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; the failure by Practice Fusion to comply with the terms of the 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 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; other risks associated with investments and acquisitions; risks associated with disposition of the Hospitals and Large Physicians Practices 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 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; asset and long-term investment impairment charges; and inflationary pressures and macroeconomic volatility. 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 Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Qs. We do 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 our business, financial condition or operating results over time.

 

Table 1

Allscripts Healthcare Solutions, Inc.

Condensed Consolidated Balance Sheets

(In millions)

(Unaudited)

 

 

 

 

 

 

 

September 30,

 

December 31,

 

2022

 

2021

ASSETS        
Current assets:        
Cash and cash equivalents  

$492.6

 

$132.5

Restricted cash  

1.3

 

1.3

Accounts receivable, net  

169.0

 

171.6

Contract assets  

65.5

 

63.5

Prepaid expenses and other current assets  

74.4

 

60.5

Current assets attributable to discontinued operations  

8.0

 

331.9

Total current assets  

$810.8

 

$761.3

Fixed assets, net  

11.7

 

9.8

Software development costs, net  

78.1

 

74.7

Intangible assets, net  

145.3

 

149.7

Goodwill  

523.9

 

506.6

Contract assets – long-term  

28.0

 

28.2

Right-of-use assets – operating leases  

14.5

 

18.3

Other assets  

78.4

 

83.4

Long-term assets attributable to discontinued operations  

$0.0

 

$793.2

Total assets  

$1,690.7

 

$2,425.2

         
LIABILITIES AND STOCKHOLDERS’ EQUITY        
Current liabilities:        
Accounts payable  

$12.6

 

$5.3

Accrued expenses  

82.9

 

54.5

Accrued compensation and benefits  

33.9

 

31.1

Deferred revenue  

98.9

 

120.7

Current operating lease liabilities  

6.2

 

6.1

Current liabilities attributable to discontinued operations  

18.6

 

329.4

Total current liabilities  

253.1

 

547.1

Long-term debt  

200.3

 

350.1

Deferred revenue  

3.1

 

1.8

Deferred taxes, net  

8.1

 

16.6

Long-term operating lease liabilities  

12.3

 

16.8

Other liabilities  

36.8

 

33.8

Long-term liabilities attributable to discontinued operations  

0.0

 

50.9

Total liabilities  

$513.7

 

$1,017.1

Total stockholders’ equity  

$1,177.0

 

$1,408.1

Total liabilities and stockholders’ equity  

$1,690.7

 

$2,425.2

         
 
Table 2
Allscripts Healthcare Solutions, Inc.
Condensed Consolidated Statements of Operations
(In millions, except per share amounts)
(Unaudited)
                 
   

Three Months Ended

September 30,

 

Nine Months Ended

September 30,

   

2022

 

2021

 

2022

 

2021

Revenue:                
Provider  

$122.8

 

 

$118.2

 

 

$360.4

 

 

$345.3

 

Payer & Life Sciences  

29.1

 

 

26.5

 

 

85.1

 

 

74.3

 

Total Revenue  

151.9

 

 

144.7

 

 

445.5

 

 

419.6

 

Cost of revenue:                
Provider  

57.3

 

 

61.7

 

 

172.6

 

 

180.7

 

Payer & Life Sciences  

11.2

 

 

13.4

 

 

36.5

 

 

38.0

 

Total cost of revenue  

68.5

 

 

75.1

 

 

209.1

 

 

218.7

 

Gross profit  

83.4

 

 

69.6

 

 

236.4

 

 

200.9

 

Selling, general and administrative expenses  

32.5

 

 

27.4

 

 

133.7

 

 

87.7

 

Research and development  

23.6

 

 

21.0

 

 

69.8

 

 

62.5

 

Asset impairment charges  

0.0

 

 

0.4

 

 

0.0

 

 

0.6

 

Amortization of intangible and acquisition-related assets  

2.2

 

 

2.4

 

 

6.6

 

 

7.2

 

Income (loss) from operations  

25.1

 

 

18.4

 

 

26.3

 

 

42.9

 

Interest income (expense), net (a)  

0.4

 

 

(3.6

)

 

(3.5

)

 

(9.6

)

Other  

(0.6

)

 

12.6

 

 

0.8

 

 

29.8

 

Income (loss) before income taxes  

24.9

 

 

27.4

 

 

23.6

 

 

63.1

 

Income tax (provision) benefit  

(13.9

)

 

(7.2

)

 

9.1

 

 

(12.5

)

Income (loss) from continuing operations, net of tax  

11.0

 

 

20.2

 

 

32.7

 

 

50.6

 

Income (loss) from discontinued operations  

(0.3

)

 

(6.2

)

 

(9.2

)

 

(6.5

)

Gain (loss) on sale of discontinued operations  

5.1

 

 

0.0

 

 

7.9

 

 

0.6

 

Income tax (provision) from discontinued operations  

(1.2

)

 

2.1

 

 

(58.0

)

 

2.4

 

Income (loss) from discontinued operations, net of tax  

3.6

 

 

(4.1

)

 

(59.3

)

 

(3.5

)

Net Income (loss)  

$14.6

 

 

$16.1

 

 

($26.6

)

 

$47.1

 

                 
Diluted earnings per Common Share:                
Income (loss) from continuing operations, net of tax  

$11.0

 

 

$20.2

 

 

$32.7

 

 

$50.6

 

Plus: Interest expense, net of tax1  

$0.5

 

 

$0.0

 

 

$1.5

 

 

$0.0

 

Income (loss) from continuing operations2  

11.5

 

 

20.2

 

 

34.2

 

 

50.6

 

Income (loss) from discontinued operations, net of tax  

3.6

 

 

(4.1

)

 

(59.3

)

 

(3.5

)

Net Income (loss)2  

$15.1

 

 

$16.1

 

 

($25.1

)

 

$47.1

 

                 
Income (loss) from continuing operations per share – basic  

$0.10

 

 

$0.16

 

 

$0.29

 

 

$0.38

 

Income (loss) from discontinued operations per share – basic  

$0.03

 

 

($0.03

)

 

($0.52

)

 

($0.03

)

Income (loss) per share – basic  

$0.13

 

 

$0.13

 

 

($0.23

)

 

$0.35

 

Income (loss) from continuing operations per share – diluted2  

$0.09

 

 

$0.15

 

 

$0.25

 

 

$0.36

 

Income (loss) from discontinued operations per share – diluted  

$0.03

 

 

($0.03

)

 

($0.44

)

 

($0.03

)

Income (loss) per share – diluted2  

$0.12

 

 

$0.12

 

 

($0.19

)

 

$0.33

 

                 
Weighted average common shares outstanding:                
Basic  

110.2

 

 

123.9

 

 

113.4

 

 

133.5

 

Diluted  

128.9

 

 

131.4

 

 

134.3

 

 

142.1

 

                 
   

Three Months Ended

September 30,

 

Nine Months Ended

September 30,

   

2022

 

2021

 

2022

 

2021

                 
(a) Interest expense, net                
Interest expense  

(0.9

)

 

(1.8

)

 

(3.5

)

 

(4.1

)

Interest income  

1.7

 

 

0.1

 

 

1.8

 

 

0.2

 

Non-cash charges to interest expense  

(0.4

)

 

(1.9

)

 

(1.8

)

 

(5.7

)

Interest expense, net  

$0.4

 

 

($3.6

)

 

($3.5

)

 

($9.6

)

                 
1Associated with 0.875% Convertible Senior Notes
2Net of tax after the effect of assumed conversions of convertible notes
 
Table 3
Allscripts Healthcare Solutions, Inc.
Condensed Consolidated Statements of Cash Flows
(In millions)
(Unaudited)
                 
   

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

   

 

2022

 

 

 

2021

 

 

 

2022

 

 

 

2021

 

Cash flows from operating activities:                
Net income (loss)  

$

14.6

 

 

$

16.1

 

 

($

26.6

)

 

$

47.1

 

Less: Income(loss) from discontinued operations  

 

3.6

 

 

 

(4.1

)

 

 

(59.3

)

 

 

(3.5

)

Income (loss) from continuing operations  

$

11.0

 

 

$

20.2

 

 

$

32.7

 

 

$

50.6

 

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

 

13.8

 

 

 

16.1

 

 

 

42.3

 

 

 

49.0

 

Non-cash lease expense, net  

 

(0.1

)

 

 

(3.2

)

 

 

(5.3

)

 

 

(8.8

)

Stock-based compensation expense  

 

4.6

 

 

 

4.0

 

 

 

19.9

 

 

 

8.8

 

Deferred Taxes  

 

(2.5

)

 

 

(1.3

)

 

 

(3.0

)

 

 

4.5

 

Impairment of assets and long-term investments  

 

0.0

 

 

 

0.3

 

 

 

0.0

 

 

 

0.5

 

Gain on sale of businesses, net  

 

0.0

 

 

 

(8.4

)

 

 

0.0

 

 

 

(8.4

)

Other (income) loss, net  

 

0.7

 

 

 

(4.1

)

 

 

0.0

 

 

 

(4.0

)

Total non-cash adjustments to net income (loss)  

 

16.5

 

 

 

3.4

 

 

 

53.9

 

 

 

41.6

 

Cash impact of changes in operating assets and liabilities:                
Assets  

 

63.0

 

 

 

(30.0

)

 

 

102.0

 

 

 

(22.7

)

Liabilities  

 

(48.1

)

 

 

16.7

 

 

 

(69.6

)

 

 

29.0

 

Total cash impact of changes on operating assets and liabilities  

 

14.9

 

 

 

(13.3

)

 

 

32.4

 

 

 

6.3

 

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

 

42.4

 

 

 

10.3

 

 

 

119.0

 

 

 

98.5

 

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

 

(14.2

)

 

 

45.6

 

 

 

(23.2

)

 

 

(239.0

)

Net cash provided by (used in) operating activities  

 

28.2

 

 

 

55.9

 

 

 

95.8

 

 

 

(140.5

)

Cash flows from investing activities:                
Capital expenditures  

 

(0.3

)

 

 

(0.9

)

 

 

(1.9

)

 

 

(1.1

)

Capitalized software  

 

(7.9

)

 

 

(9.9

)

 

 

(26.2

)

 

 

(26.6

)

Cash paid for business acquisitions, net of cash acquired  

 

0.0

 

 

 

0.0

 

 

 

(24.1

)

 

 

0.0

 

Sale of businesses, other investments and distributions received1  

 

0.0

 

 

 

1.2

 

 

 

672.5

 

 

 

5.4

 

Purchases of equity securities, other investments and intangible assets, net  

 

(1.0

)

 

 

0.0

 

 

 

(1.3

)

 

 

(0.2

)

Cash provided by (used in) investing activities – continuing operations  

 

(9.2

)

 

 

(9.6

)

 

 

619.0

 

 

 

(22.5

)

Cash provided by (used in) investing activities – discontinued operations  

 

(0.1

)

 

 

(10.8

)

 

 

(15.3

)

 

 

(32.4

)

Net cash provided by (used in) investing activities  

 

(9.3

)

 

 

(20.4

)

 

 

603.7

 

 

 

(54.9

)

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

 

(4.8

)

 

 

(0.1

)

 

 

(32.7

)

 

 

(12.7

)

Credit facility payments  

 

0.0

 

 

 

(50.0

)

 

 

(200.0

)

 

 

(50.0

)

Credit facility borrowings, net of issuance costs  

 

0.0

 

 

 

0.0

 

 

 

22.3

 

 

 

250.0

 

Repurchase of common stock  

 

(33.6

)

 

 

0.1

 

 

 

(177.0

)

 

 

(308.9

)

Intercompany to/from parent/subsidiaries  

 

0.0

 

 

 

42.3

 

 

 

11.7

 

 

 

47.3

 

Payment of acquisition and other financing obligations  

 

(0.1

)

 

 

0.0

 

 

 

0.0

 

 

 

(2.4

)

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

 

(38.5

)

 

 

(7.7

)

 

 

(375.7

)

 

 

(76.7

)

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

 

0.0

 

 

 

(42.3

)

 

 

(11.7

)

 

 

(48.6

)

Net cash provided by (used in) financing activities  

 

(38.5

)

 

 

(50.0

)

 

 

(387.4

)

 

 

(125.3

)

Effect of exchange rate changes on cash and cash equivalents  

 

0.0

 

 

 

(0.6

)

 

 

(0.7

)

 

 

(0.5

)

Net increase (decrease) in cash and cash equivalents  

 

(19.6

)

 

 

(15.1

)

 

 

311.4

 

 

 

(321.2

)

Cash, cash equivalents and restricted cash, beginning of period  

 

521.5

 

 

 

231.4

 

 

 

190.5

 

 

 

537.5

 

Cash, cash equivalents and restricted cash, end of period  

$

501.9

 

 

$

216.3

 

 

$

501.9

 

 

$

216.3

 

Less: Cash and cash equivalents attributable to discontinued operations  

($

8.0

)

 

($

72.7

)

 

($

8.0

)

 

($

72.7

)

Cash, cash equivalents and restricted cash, end of period, continuing operations  

$

493.9

 

 

$

143.6

 

 

$

493.9

 

 

$

143.6

 

                 
1Other investments are net of cash divested
 
Table 4

Allscripts Healthcare Solutions, Inc.

Condensed Non-GAAP Financial Information

(In millions, except per share amounts and percentages)

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

September 30,

 

Nine Months Ended

September 30,

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Gross profit, as reported

$83.4

 

 

$69.6

 

 

$236.4

 

 

$200.9

 

Acquisition-related amortization

1.8

 

 

1.7

 

 

5.1

 

 

5.3

 

Stock-based compensation expense

0.3

 

 

0.3

 

 

0.9

 

 

0.9

 

Total non-GAAP gross profit

$85.5

 

 

$71.6

 

 

$242.4

 

 

$207.1

 

                 
Income (loss) from operations, as reported

$25.1

 

 

$18.4

 

 

$26.3

 

 

$42.9

 

Acquisition-related amortization

3.9

 

 

4.1

 

 

11.7

 

 

12.5

 

Stock-based compensation expense

4.7

 

 

3.1

 

 

20.8

 

 

10.5

 

Transaction and other

0.0

 

 

0.0

 

 

27.9

 

 

0.0

 

Total non-GAAP income from operations

$33.7

 

 

$25.6

 

 

$86.7

 

 

$65.9

 

                 
Net Income (loss)1  

$15.1

 

 

$16.1

 

 

($25.1

)

 

$47.1

 

Loss (income) from discontinued operations

0.3

 

 

6.2

 

 

9.2

 

 

6.5

 

(Gain) on sale of business, net from discontinued operations

(5.1

)

 

0.0

 

 

(7.9

)

 

(0.6

)

Income tax provision from discontinued operations

1.2

 

 

(2.1

)

 

58.0

 

 

(2.4

)

Income (loss) from continuing operations1

$11.5

 

 

$20.2

 

 

$34.2

 

 

$50.6

 

Less: Interest expense, net of tax2

(0.5

)

 

0.0

 

 

(1.5

)

 

0.0

 

Income (loss) from continuing operations, net of tax

$11.0

 

 

$20.2

 

 

$32.7

 

 

$50.6

 

Acquisition-related amortization

3.9

 

 

4.1

 

 

11.7

 

 

12.5

 

Stock-based compensation expense

4.7

 

 

3.2

 

 

20.8

 

 

10.5

 

Transaction and other

0.0

 

 

0.0

 

 

28.0

 

 

0.2

 

Non-cash charges to interest expense and other

0.0

 

 

1.3

 

 

0.0

 

 

(1.1

)

Tax rate alignment

5.9

 

 

(1.5

)

 

(29.4

)

 

(8.0

)

Non-GAAP net income

$25.5

 

 

$27.4

 

 

$63.8

 

 

$64.7

 

                 
Non-GAAP effective tax rate

24

%

 

24

%

 

24

%

 

24

%

                 
Weighted shares outstanding – basic

110.2

 

 

123.9

 

 

113.4

 

 

133.5

 

Weighted shares outstanding – diluted

128.9

 

 

131.4

 

 

134.3

 

 

142.1

 

Less the net effect of convertible notes and note hedges

(15.6

)

 

(2.8

)

 

(15.0

)

 

(2.9

)

Non-GAAP Weighted shares outstanding – diluted

113.3

 

 

128.6

 

 

119.3

 

 

139.2

 

                 
Net Income (loss) from continuing operations per share – diluted1

$0.12

 

 

$0.12

 

 

($0.19

)

 

$0.33

 

Non-GAAP Net Income (loss) per share – diluted

$0.23

 

 

$0.21

 

 

$0.53

 

 

$0.46

 

                 
1Net of tax after the effect of assumed conversions of convertible notes
2Associated with 0.875% Convertible Senior Notes
 
Table 5

Allscripts Healthcare Solutions, Inc.

Non-GAAP Financial Information – Adjusted EBITDA

(In millions, except percentages)

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

September 30,

 

Nine Months Ended

September 30,

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Income (loss) from operations, as reported  

$25.1

 

 

$18.4

 

 

$26.3

 

 

$42.9

 

Plus:                
Depreciation and amortization  

13.4

 

 

14.3

 

 

40.5

 

 

43.6

 

Asset impairment charges  

0.0

 

 

0.4

 

 

0.0

 

 

0.6

 

Stock-based compensation expense  

4.7

 

 

3.1

 

 

20.8

 

 

10.5

 

Transaction and other  

0.0

 

 

0.0

 

 

27.9

 

 

0.0

 

Adjusted EBITDA  

$43.2

 

 

$36.2

 

 

$115.5

 

 

$97.6

 

                 
Adjusted EBITDA margin (a)  

28.4

%

 

25.0

%

 

25.9

%

 

23.3

%

                 
(a) Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenue.
 
Table 6
Allscripts Healthcare Solutions, Inc.
Non-GAAP Financial Information – Free Cash Flow
(In millions)
(Unaudited)
                 
   

Three Months Ended September 30,

 

Nine Months Ended September 30,

   

 

2022

 

 

 

2021

 

 

 

2022

 

 

 

2021

 

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

$

42.4

 

 

$

10.3

 

 

$

119.0

 

 

$

98.5

 

Cash flows from investing activities:                
Capital expenditures  

 

(0.3

)

 

 

(0.9

)

 

 

(1.9

)

 

 

(1.1

)

Capitalized software  

 

(7.9

)

 

 

(9.9

)

 

 

(26.2

)

 

 

(26.6

)

Free cash flow  

$

34.2

 

 

($

0.5

)

 

$

90.9

 

 

$

70.8

 

                 
 
Table 7
Allscripts Healthcare Solutions, Inc.
Non-GAAP Financial Information from Continuing Operations – Segment Details
(In millions)
(unaudited)
                     
 

2021

 

2022

 

Q1

Q2

Q3

Q4

Total

 

Q1

Q2

Q3

Total

 

 

 

 

 

 

 

 

 

 

 

Total Veradigm, Non-GAAP

 

 

 

 

 

 

 

 

 

 

Revenue, GAAP

126.4

133.4

137.2

155.2

552.2

 

136.3

144.6

145.4

426.3

Gross profit

60.7

65.7

67.7

86.7

280.8

 

71.1

77.4

80.8

229.3

Gross margin

48.0%

49.3%

49.3%

55.9%

50.9%

 

52.2%

53.5%

55.6%

53.8%

Income from operations

19.0

25.2

24.2

42.4

110.8

 

25.5

30.3

34.3

90.1

Adjusted EBITDA

28.4

35.3

34.5

51.9

150.1

 

35.2

39.8

43.7

118.7

Adjusted EBITDA margin

22.5%

26.5%

25.1%

33.4%

27.2%

 

25.8%

27.5%

30.1%

27.8%

Unallocated, Non-GAAP

 

 

 

 

 

 

 

 

 

 

Revenue, GAAP

7.3

7.8

7.5

6.0

28.6

 

6.4

6.3

6.5

19.2

Gross Profit

4.3

4.8

3.9

3.3

16.3

 

4.3

4.1

4.7

13.1

Gross margin

58.9%

61.5%

52.0%

55.0%

57.0%

 

67.2%

65.1%

72.3%

68.2%

Income from operations

(3.1)

(0.8)

1.4

6.3

3.8

 

(1.6)

(1.2)

(0.6)

(3.4)

Adjusted EBITDA

(2.2)

0.0

1.7

6.3

5.8

 

(1.5)

(1.2)

(0.5)

(3.2)

Total Allscripts Consolidated, Non-GAAP

 

 

 

 

 

 

 

 

 

 

Revenue, GAAP

133.7

141.2

144.7

161.2

580.8

 

142.7

150.9

151.9

445.5

Gross profit

65.0

70.5

71.6

90.0

297.1

 

75.4

81.5

85.5

242.4

Gross margin

48.6%

49.9%

49.5%

55.8%

51.2%

 

52.8%

54.0%

56.3%

54.4%

Income from operations

15.9

24.4

25.6

48.7

114.6

 

23.9

29.1

33.7

86.7

Adjusted EBITDA

26.2

35.3

36.2

58.2

155.9

 

33.7

38.6

43.2

115.5

Adjusted EBITDA margin

19.6%

25.0%

25.0%

36.1%

26.8%

 

23.6%

25.6%

28.4%

25.9%

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

2022

 

Q1

Q2

Q3

Q4

Total

 

Q1

Q2

Q3

Total

Allscripts Consolidated Bookings, Non-GAAP

 

 

 

 

 

 

 

 

 

 

Total contract value

70.4

85.4

61.6

83.5

300.9

 

64.8

106.8

58.0

229.6

First year contract value

33.8

38.3

31.9

41.9

145.9

 

28.9

48.7

32.0

109.6

 
Table 8
Allscripts Healthcare Solutions, Inc.
Non-GAAP Financial Information Reconciliation – Segment Details
(In millions)
(unaudited)
                     
 

2021

 

2022

 

Q1

Q2

Q3

Q4

Total

 

Q1

Q2

Q3

Total

Total Veradigm

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue, GAAP

$126.4

$133.4

$137.2

$155.2

$552.2

 

$136.3

$144.6

$145.4

$426.3

 

 

 

 

 

 

 

 

 

 

 

Gross profit, GAAP

$58.6

$63.6

$65.7

$84.6

$272.5

 

$69.2

$75.4

$78.8

$223.4

Acquisition-related amortization

1.8

1.8

1.7

1.8

7.1

 

1.6

1.7

1.8

5.1

Stock-based compensation expense

0.3

0.3

0.3

0.3

1.2

 

0.3

0.3

0.2

0.8

Non-GAAP Gross profit

$60.7

$65.7

$67.7

$86.7

$280.8

 

$71.1

$77.4

$80.8

$229.3

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from operations, GAAP

$11.4

$17.9

$16.9

$35.2

$81.4

 

$18.1

$24.0

$27.7

$69.8

Acquisition-related amortization

4.2

4.2

4.1

3.9

16.4

 

3.8

4.0

3.9

11.7

Stock-based compensation expense

3.4

3.1

3.2

3.3

13.0

 

3.6

2.3

2.7

8.6

Transaction and other

0.0

0.0

0.0

0.0

0.0

 

0.0

0.0

0.0

0.0

Non-GAAP Income (loss) from operations

$19.0

$25.2

$24.2

$42.4

$110.8

 

$25.5

$30.3

$34.3

$90.1

 

 

 

 

 

 

 

 

 

 

 

Asset Impairment Charges

0.0

0.2

0.4

0.0

0.6

 

0.0

0.0

0.0

0.0

Depreciation and amortization

9.4

9.9

9.9

9.5

38.7

 

9.7

9.5

9.4

28.6

Adjusted EBITDA

$28.4

$35.3

$34.5

$51.9

$150.1

 

$35.2

$39.8

$43.7

$118.7

 

 

 

 

 

 

 

 

 

 

 

Unallocated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue, GAAP

$7.3

$7.8

$7.5

$6.0

$28.6

 

$6.4

$6.3

$6.5

$19.2

 

 

 

 

 

 

 

 

 

 

 

Gross Profit, GAAP

$4.3

$4.8

$3.9

$3.3

$16.3

 

$4.3

$4.1

$4.6

$13.0

Stock-based compensation expense

0.0

0.0

0.0

0.0

0.0

 

0.0

0.0

0.1

0.1

Non-GAAP Gross Profit

$4.3

$4.8

$3.9

$3.3

$16.3

 

$4.3

$4.1

$4.7

$13.1

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from operations, GAAP

($3.7)

($1.1)

$1.5

$6.4

$2.9

 

($11.5)

($29.4)

($2.6)

($43.5)

Stock-based compensation expense

0.6

0.3

(0.1)

(0.1)

0.9

 

3.3

6.9

2.0

12.2

Transaction and other

0.0

0.0

0.0

0.0

0.0

 

6.6

21.3

0.0

27.9

Non-GAAP Income (loss) from operations

($3.1)

($0.8)

$1.4

$6.3

$3.8

 

($1.6)

($1.2)

($0.6)

($3.4)

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

0.9

0.8

0.3

0.0

2.0

 

0.1

0.0

0.1

0.2

Adjusted EBITDA

($2.2)

$0.0

$1.7

$6.3

$5.8

 

($1.5)

($1.2)

($0.5)

($3.2)

 
Table 9
Allscripts Healthcare Solutions, Inc.
Non-GAAP Financial Information from Continuing Operations – Revenue and Gross Profit Details
(In millions)
(unaudited)
     
   

2021

 

2022

   

Q1

Q2

Q3

Q4

Total

 

Q1

Q2

Q3

Total

Veradigm Provider, Non-GAAP  

 

 

 

 

 

 

 

 

 

 

Revenue, GAAP  

103.9

108.1

110.7

126.3

449.0

 

112.3

112.6

116.3

341.2

Gross profit  

49.8

52.4

54.2

70.6

227.0

 

58.8

58.0

62.3

179.1

Gross margin  

47.9%

48.5%

49.0%

55.9%

50.6%

 

52.4%

51.5%

53.6%

52.5%

   

 

 

 

 

 

 

 

 

 

 

Veradigm Payer & Life Sciences, Non-GAAP  

 

 

 

 

 

 

 

 

 

 

Revenue, GAAP  

22.5

25.3

26.5

28.9

103.2

 

24.0

32.0

29.1

85.1

Gross Profit  

10.9

13.3

13.5

16.1

53.8

 

12.3

19.4

18.5

50.2

Gross Margin  

48.4%

52.6%

50.9%

55.7%

52.1%

 

51.3%

60.6%

63.6%

59.0%

   

 

 

 

 

 

 

 

 

 

 

Total Veradigm, Non-GAAP  

 

 

 

 

 

 

 

 

 

 

Revenue, GAAP  

126.4

133.4

137.2

155.2

552.2

 

136.3

144.6

145.4

426.3

Gross profit  

60.7

65.7

67.7

86.7

280.8

 

71.1

77.4

80.8

229.3

Gross margin  

48.0%

49.3%

49.3%

55.9%

50.9%

 

52.2%

53.5%

55.6%

53.8%

   

 

 

 

 

 

 

 

 

 

 

Allscripts Consolidated Provider, Non-GAAP  

 

 

 

 

 

 

 

 

 

 

Revenue, GAAP  

111.2

115.9

118.2

132.3

477.6

 

118.7

118.9

122.8

360.4

Gross profit  

54.1

57.2

58.1

73.9

243.3

 

63.1

62.1

67.0

192.2

Gross margin  

48.7%

49.4%

49.2%

55.9%

50.9%

 

53.2%

52.2%

54.6%

53.3%

   

 

 

 

 

 

 

 

 

 

 

Allscripts Consolidated Payer & Life Sciences, Non-GAAP  

 

 

 

 

 

 

 

 

 

 

Revenue, GAAP  

22.5

25.3

26.5

28.9

103.2

 

24.0

32.0

29.1

85.1

Gross Profit  

10.9

13.3

13.5

16.1

53.8

 

12.3

19.4

18.5

50.2

Gross Margin  

48.4%

52.6%

50.9%

55.7%

52.1%

 

51.3%

60.6%

63.6%

59.0%

   

 

 

 

 

 

 

 

 

 

 

Total Allscripts Consolidated, Non-GAAP  

 

 

 

 

 

 

 

 

 

 

Revenue, GAAP  

133.7

141.2

144.7

161.2

580.8

 

142.7

150.9

151.9

445.5

Gross profit  

65.0

70.5

71.6

90.0

297.1

 

75.4

81.5

85.5

242.4

Gross margin  

48.6%

49.9%

49.5%

55.8%

51.2%

 

52.8%

54.0%

56.3%

54.4%

 
Table 10
Allscripts Healthcare Solutions, Inc.
Non-GAAP Financial Information Reconciliation – Revenue and Gross Profit Details
(In millions)
(unaudited)
                       
   

2021

 

2022

   

Q1

Q2

Q3

Q4

Total

 

Q1

Q2

Q3

Total

Veradigm Provider  

 

 

 

 

 

 

 

 

 

 

Gross profit, GAAP  

$48.2

$50.8

$52.6

$69.0

$220.6

 

$57.4

$56.5

$60.9

$174.8

Acquisition-related amortization  

1.3

1.3

1.3

1.3

5.2

 

1.1

1.2

1.2

3.5

Stock-based compensation expense  

0.3

0.3

0.3

0.3

1.2

 

0.3

0.3

0.2

0.8

Non-GAAP Gross profit  

$49.8

$52.4

$54.2

$70.6

$227.0

 

$58.8

$58.0

$62.3

$179.1

   

 

 

 

 

 

 

 

 

 

 

Veradigm Payer & Life Sciences  

 

 

 

 

 

 

 

 

 

 

Gross profit, GAAP  

$10.4

$12.8

$13.1

$15.6

$51.9

 

$11.8

$18.9

$17.9

$48.6

Acquisition-related amortization  

0.5

0.5

0.4

0.5

1.9

 

0.5

0.5

0.6

1.6

Stock-based compensation expense  

0.0

0.0

0.0

0.0

0.0

 

0.0

0.0

0.0

0.0

Non-GAAP Gross profit  

$10.9

$13.3

$13.5

$16.1

$53.8

 

$12.3

$19.4

$18.5

$50.2

   

 

 

 

 

 

 

 

 

 

 

Total Veradigm  

 

 

 

 

 

 

 

 

 

 

Gross profit, GAAP  

$58.6

$63.6

$65.7

$84.6

$272.5

 

$69.2

$75.4

$78.8

$223.4

Acquisition-related amortization  

1.8

1.8

1.7

1.8

7.1

 

1.6

1.7

1.8

5.1

Stock-based compensation expense  

0.3

0.3

0.3

0.3

1.2

 

0.3

0.3

0.2

0.8

Non-GAAP Gross profit  

$60.7

$65.7

$67.7

$86.7

$280.8

 

$71.1

$77.4

$80.8

$229.3

   

 

 

 

 

 

 

 

 

 

 

Allscripts Consolidated Provider  

 

 

 

 

 

 

 

 

 

 

Gross profit, GAAP  

$52.5

$55.6

$56.5

$72.3

$236.9

 

$61.7

$60.6

$65.5

$187.8

Acquisition-related amortization  

1.3

1.3

1.3

1.3

5.2

 

1.1

1.2

1.2

3.5

Stock-based compensation expense  

0.3

0.3

0.3

0.3

1.2

 

0.3

0.3

0.3

0.9

Non-GAAP Gross profit  

$54.1

$57.2

$58.1

$73.9

$243.3

 

$63.1

$62.1

$67.0

$192.2

   

 

 

 

 

 

 

 

 

 

 

Allscripts Consolidated Payer & Life Sciences

 

 

 

 

 

 

 

 

 

 

Gross profit, GAAP  

$10.4

$12.8

$13.1

$15.6

$51.9

 

$11.8

$18.9

$17.9

$48.6

Acquisition-related amortization  

0.5

0.5

0.4

0.5

1.9

 

0.5

0.5

0.6

1.6

Stock-based compensation expense  

0.0

0.0

0.0

0.0

0.0

 

0.0

0.0

0.0

0.0

Non-GAAP Gross profit  

$10.9

$13.3

$13.5

$16.1

$53.8

 

$12.3

$19.4

$18.5

$50.2

   

 

 

 

 

 

 

 

 

 

 

Total Allscripts Consolidated  

 

 

 

 

 

 

 

 

 

 

Gross profit, GAAP  

$62.9

$68.4

$69.6

$87.9

$288.8

 

$73.5

$79.5

$83.4

$236.4

Acquisition-related amortization  

1.8

1.8

1.7

1.8

7.1

 

1.6

1.7

1.8

5.1

Stock-based compensation expense  

0.3

0.3

0.3

0.3

1.2

 

0.3

0.3

0.3

0.9

Non-GAAP Gross profit  

$65.0

$70.5

$71.6

$90.0

$297.1

 

$75.4

$81.5

$85.5

$242.4

 

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 bookings, 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 bookings consists of total contract value which reflects the value of executed contracts for software, hardware, maintenance, and other client services on a continuing operations basis. First year contract value, a subset of total contract value, reflects the anticipated revenue to be recognized in 12 months following new contract activation on a continuing operations basis.
  • Non-GAAP gross profit consists of GAAP gross profit, as reported, and excludes acquisition-related amortization and; stock-based compensation expense. Non-GAAP gross margin consists of non-GAAP gross profit as a percentage of revenue in the applicable period. Reconciliations to GAAP gross profit are found in Tables 4, 8 and 10 within this press release.
  • Non-GAAP gross margin is a non-GAAP measure that is calculated by dividing non-GAAP gross profit by revenue.
  • Non-GAAP income from operations consists of GAAP income (loss) from operations, as reported, and excludes acquisition-related amortization; stock-based compensation expense; and transaction and other costs. Reconciliations to GAAP income (loss) from operations are found in Tables 4 and 8 within this press release.
  • Adjusted EBITDA is a non-GAAP measure and consists of GAAP income/(loss) from operations, as reported, and adjusts for: depreciation and amortization; asset impairment charges; stock-based compensation expense; and transaction and other costs. Reconciliations to GAAP income/(loss) from operations are found in Tables 5 and 8 within this press release.
  • Adjusted EBITDA margin is a non-GAAP measure that is calculated by dividing Adjusted EBITDA by revenue. See the reconciliations in Tables 5 and 8 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 attributable to Allscripts Healthcare Solutions, Inc. consists of GAAP net income/(loss) from continuing operations, as reported, and adds back acquisition-related amortization; stock-based compensation expense; transaction and other costs; and non-cash charges to interest expense and other. Non-GAAP net income also includes a GAAP to non-GAAP tax rate alignment adjustment. Reconciliations to GAAP net income/(loss) attributable to Allscripts Healthcare Solutions, Inc. are found in Table 4 within this press release.
  • Non-GAAP diluted weighted shares outstanding consists of diluted weighted shares outstanding, as reported, less the dilutive impact of 0.875% convertible notes due to the intent to settle the principal in cash and shares to be delivered at settlement by the convertible note hedge.
  • Non-GAAP diluted earnings per share consist of non-GAAP net income, as defined above, divided by non-GAAP diluted weighted shares outstanding, as defined above, during the applicable period.
  • Free cash flow consists of GAAP cash flows from continuing operations in the applicable period, net of capital expenditures and capitalized software costs. Reconciliations to GAAP cash flows from continuing operations are found in Table 6 within this press release.
 

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.

Transaction and Other Costs. Transaction 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. Other costs also include non-cash impairment charges based on management’s assessment of the likelihood of near-term recovery of the investments’ value.

Allscripts excludes transaction 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.

Asset Impairment Charges. Asset impairment charges reflect non-cash charges related to the write-offs of deferred costs related to our private cloud hosting operations.

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 0.875% Convertible Notes issued by Allscripts during the fourth quarter of 2019. Other includes certain other income and expense and impairments on long-term investments.

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

Management also believes that non-GAAP gross profit, 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, transaction, and other costs recorded 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:
Jenny Gelinas
312-506-1237
jenny.gelinas@allscripts.com

Media:
Concetta Rasiarmos
312-447-2466
Concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare Solutions, Inc.

10/20/2022

Allscripts to release third-quarter 2022 financial results November 3

CHICAGO–(BUSINESS WIRE)–Oct. 20, 2022–
Allscripts Healthcare Solutions, Inc. (Nasdaq:MDRX) will report its financial results for the three months ended September 30, 2022 after the close of stock market hours on Thursday, November 3, 2022. 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.

Third-Quarter 2022 Financial Results Call Details

The Allscripts earnings announcement will be distributed immediately after the close of regular stock market hours on Thursday, November 3, 2022. 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 # 13733727.

A replay of the call will be available for a period of a year on the Allscripts investor relations 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.

© 2022 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:

Jenny Gelinas

312-506-1237

Jenny.Gelinas@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare Solutions, Inc.

09/19/2022

Allscripts to Host Virtual Investor Day September 28th

CHICAGO–(BUSINESS WIRE)–Sep. 19, 2022–
Allscripts Healthcare Solutions, Inc. (NASDAQ: MDRX) will host a virtual Investor Day on Wednesday, September 28, 2022 at 12:00 p.m. (Eastern). The event will include presentations made by members of the executive management team followed by a question-and-answer session. Participants may access the virtual conference by registering with our webcast registration or dial-in registration (for Q&A) links. Presentation slides will be posted on the day of the event, at approximately 11:30 a.m. (Eastern), to the Allscripts Investor Relations website under Investor Relations, Events & Presentations.

A live audio webcast will begin at approximately 12:00 p.m. (Eastern) and will be available for replay on Allscripts Investor Relations website under Investor Relations, Events & Presentations.

A replay of the call will be available approximately three hours after the conclusion of the call, for a period of six months, on the Allscripts investor relations 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, LinkedIn, and It Takes A Community: The Allscripts Blog.

© 2022 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:

Jenny Gelinas

312-506-1237

Jenny.Gelinas@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

Concetta.Rasiarmos@allscripts.com

Source: Allscripts Healthcare Solutions, Inc.

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