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11/23/2020

Allscripts partners with Nurse Heroes to support and honor frontline workers

Initiative addresses the accelerating shortage of nurses in the workforce and provides programs including scholarships for nurses and their children

CHICAGO–(BUSINESS WIRE)–Nov. 23, 2020–
Allscripts Healthcare Solutions (NASDAQ: MDRX) announced today that the Company is an ambassador for Nurse Heroes, a new initiative created to recognize and honor nurses, while also helping educate and empower them for their careers. Through this partnership, Allscripts supports Nurse Heroes in providing scholarships for nurses to either begin nursing school or complete higher-ed certification programs for medical career advancement.

Allscripts joins motivated philanthropists, media organizations, celebrities and healthcare institutions to honor Nurse Heroes through a Thanksgiving Day virtual concert experience airing on NBC. Entertainers including Celine Dion, Stevie Wonder, Josh Groban, Marc Anthony and the Black Eyed Peas will join host Whoopi Goldberg and special guests Billy Crystal and Oprah Winfrey for the celebration of Nurse Heroes.

The Nurse Heroes campaign celebrates 2020 as the bicentennial legacy of Florence Nightingale, the founder of modern nursing. The bicentennial comes at a time when nurses serve as frontline caretakers for the millions afflicted with COVID-19, supporting doctors through life-saving care and being there to comfort patients during times of fear and sorrow. However, according to Nurse Heroes, the world is currently facing an accelerating shortage of nurses. If the trend continues at this pace, it is estimated that there will be approximately one million fewer nurses than needed by 2022. Nurse Heroes hopes to reverse this by offering significant and tangible support to new and existing nurses.

“Now, more than ever, there is an urgency to support our nurses and their families,” said Allscripts Chief Executive Officer, Paul Black. “Giving back, to our community and to our world, is a distinct part of the Allscripts culture, and is at the core of who we are. Through our partnership with Nurses Heroes, Allscripts is proud to help address the accelerating shortage of nurses in the workforce and provide scholarships to some of the most fundamental clinicians in the industry.”

About Allscripts

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

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

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

Investors:

Stephen Shulstein

312-386-6735

stephen.shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

11/18/2020

Allscripts Announces New Share Repurchase Program

CHICAGO–(BUSINESS WIRE)–Nov. 18, 2020–
Allscripts Healthcare Solutions (NASDAQ MDRX) announced today that its Board of Directors has approved a new share repurchase program under which Allscripts may purchase up to $300 million of its common stock through December 31, 2021.

The new share repurchase program replaces the previously existing share repurchase program, which authorized Allscripts to repurchase $250 million of its common share through December 31, 2020. Allscripts has repurchased the entire amount available under the prior program.

“Extending and expanding Allscripts share repurchase program represents an attractive component of our capital deployment strategy,” said Rick Poulton, Allscripts President and Chief Financial Officer.

Allscripts plans to repurchase shares from time to time in the open market, through transactions that may be characterized as derivatives (including accelerated share repurchases), or in privately negotiated transactions, subject to market conditions. There is no guarantee as to the exact number of shares or value that will be repurchased under the stock repurchase program, and Allscripts may discontinue purchases at any time. Whether Allscripts makes any repurchases will depend on many factors, including but not limited to its business and financial performance, the business and market conditions at the time, including the price of Allscripts shares, and other factors that management considers relevant.

About Allscripts

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

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

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

Forward-Looking Statements

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

Investors:

Stephen Shulstein

312-386-6735

stephen.shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare Solutions

11/17/2020

Veradigm and HealthVerity Expand Existing Partnership with Novel Linked Real-World Data Packages

Two solutions will initiate this extended collaboration focused on the linking of real-world data to both clinical trial data and specific therapeutic area data.

CHICAGO–(BUSINESS WIRE)–Nov. 17, 2020–
Veradigm®, an Allscripts (NASDAQ: MDRX) business unit leading the industry with real-world data and analytic solutions, and HealthVerity, the leader in privacy-protected data exchange, today announced that they have entered into a strategic partnership that extends the companies’ current relationship. The initial focus is on the development of innovative HIPAA-compliant data products created by linking real-world data from a variety of leading sources. In addition to generalized real-world data linking capabilities, the companies will focus on addressing specific industry needs by enabling clients to design linked data solutions that are fit-for-purpose. Initially the companies will focus on two areas: linking real-world data within specific therapeutic areas (TAs) and a clinical research solution linking real-world data to clinical trial data.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201117005374/en/

These data packages are created by seamlessly linking data from Veradigm’s expansive electronic health records (EHR) registry and medical and pharmacy claims data, with lab, and other real-world data sources, including pharmacy and hospital chargemaster, depending on client-specific needs. Veradigm will leverage HealthVerity Marketplace, the nation’s largest ecosystem of healthcare and consumer data, to collaborate with owners of other real-world data sources, as necessary, providing turnkey linked data packages that are fit-for-purpose. The initial data package for COVID-19 is currently available, linking EHR, medical and pharmacy claims and lab data, offering unsurpassed data recency. Data for flu and/or other respiratory diseases can be included as requested. Future packages will focus on cardiometabolic disorders, autoimmune disorders and other TAs of interest.

In addition, the companies are offering a solution focused on the linkage of clinical trial data to real-world data. With HealthVerity Census, the near real-time identity resolution and matching technology, pharmaceutical trial data is tokenized with a unique and consistent identifier and subsequently linked to Veradigm’s EHR, claims and other broad-based data sources in a HIPAA-compliant manner. This linked solution creates a rich, robust and readily accessible dataset that can be delivered daily to better characterize the trial population, identify safety signals, and potentially provide evidence supporting secondary endpoints. Veradigm and HealthVerity will work closely with study sponsors to customize this solution to meet the objectives of each research project.

This collaboration into fit-for-purpose data packages builds upon a long-standing relationship between Veradigm and HealthVerity. By leveraging HealthVerity’s state-of-the-art platform, Veradigm has been able to unify all its data assets into common data models, ensuring interoperability across the HealthVerity data ecosystem. And, Veradigm provides HealthVerity with a large and rich source of clinical and claims data to include within its growing data ecosystem. The partnership provides an ability to develop unique solutions that are tailored to the needs of the market.

“We recognize that linked data from different sources creates a more complete view of the patient journey, but the linking process is resource-intensive and protecting privacy is of utmost importance,” said Tom Langan, CEO of Veradigm. “By working with HealthVerity and other leading real-world data suppliers, we can provide privacy-protected, turnkey, linked data solutions that solve intractable problems.”

“Given the interest our clients have in better understanding specific patient populations that require a longitudinal view of the patient journey, combined with deeper clinical granularity, our growing partnership with Veradigm helps continuously meet those needs,” said Andrew Kress, CEO and cofounder of HealthVerity. “Supporting Veradigm in both its internal and external data privacy and data management strategy is a great starting point to enable this ability for additional clients that require the same level of HIPAA-compliance and interoperability.”

About Veradigm®

Veradigm is an integrated data systems and services company that combines data-driven clinical insights with actionable tools to help healthcare stakeholders improve the quality, efficiency, and value of healthcare delivery— including biopharma, health plans, healthcare providers, health technology partners, and most importantly, the patients they serve. We are dedicated to simplifying the complicated healthcare system with next-generation healthcare solutions. This is how we are transforming health, insightfully. To learn more, visit www.veradigm.com. Veradigm® is a business unit of Allscripts

About Allscripts

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

About HealthVerity

Powering the largest healthcare and consumer data ecosystem, combined with best-in-class management and privacy solutions, HealthVerity is helping answer healthcare’s most critical questions. Our technology platform serves as the foundation for the rapid creation, exchange and management of healthcare and consumer data in a fully interoperable privacy-protecting manner. Advantaged by highly sophisticated identity resolution and matching capabilities, HealthVerity is on a mission to increase transparency, forge interoperability and activate deeper insights. To learn more about HealthVerity’s technology platform, visit www.healthverity.com.

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

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

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

11/12/2020

Allscripts Client Experience Event Connects Thousands of Attendees Virtually From Around the World

Company provided more than 135 online sessions, sharing 60 hours of content and raising funds to support efforts to end child hunger

CHICAGO–(BUSINESS WIRE)–Nov. 12, 2020–
Allscripts (NASDAQ: MDRX) hosted its 2020 Allscripts Client Experience (ACE) last month, bringing together thousands of the company’s valued clients, strategic partners, associates and Health IT leaders from around the world to discuss industry drivers and trends that impact healthcare organizations today and help prepare them for tomorrow. The virtual conference was the largest-attended ACE in the company’s history, welcoming eleven times the average number of clients who typically participate in the event. Users across all core Allscripts EHR platforms (as well as hundreds currently not using core EHR solutions) from the United States, Canada, United Kingdom and Australia attended the conference. Attendees gained insights into key issues shaping the healthcare industry in 2020, including the COVID-19 pandemic and its permanent impact on care delivery.

Clinicians had the opportunity to speak with and hear from an impressive collection of industry thought leaders. During one highly attended session, Dr. Marcus Plescia from the Association of State and Territorial Health Officers (ASTHO), Dr. Emily Gurley from the Johns Hopkins Bloomberg School of Public Health and Dr. Dave Swerdlow from Pfizer discussed the timely topics of COVID-19 testing, contact tracing and vaccine development.

“We’re really going to depend on all of you who are involved in diagnosing and testing for COVID-19 to help us make sure we have good systems to report on COVID results,” Dr. Plescia told Allscripts clients during the panel.

“Getting in touch and being knowledgeable about your local public health response is really useful. Many public health departments have made materials available and have them translated into languages that may be useful. Pointing them to the right resources and having them available if you are seeing patients in real time is a great step to take,” Dr. Gurley said.

In addition, clients shared their successes with Allscripts solutions and the value ACE brought to their organizations.

Faith Thompson, MSN RN, RN Clinical Analyst, Clinical Informatics, Hendrick Health shared the power of a full perioperative solution in Allscripts Sunrise™. “Allscripts allows us to integrate all of our surgery systems in a seamless effort,” she said. “We have access to all the critical information, located in one place, in one system. One Patient. One Chart.”

Dr. Jeeny Job, Chief Medical Informatics Officer at St. Barnabas stated how imperative Allscripts patient portal is to its organization. “The FollowMyHealth® solution already had clinical information for patients to access, whether it was the clinical summary of visits, pharmacy information, medication information, or opportunities to secure messages from providers after visits,” she said. “These were all areas of opportunities and value for patients. We thought that adding the video option to the portal as your access to providers created more value to our patients. In just one month, the number of transactions was over 1,600, a huge leap in adoption. The biggest driver of that is the adoption we had for behavioral health patient population. We’ve been really pleased with the adoption so far and we’re increasing those transactions every day.”

Mark Hutchinson, of Gloucestershire Hospitals NHS Foundation Trust in the U.K., discussed the benefits that Allscripts Sunrise provides. “When we were laying the tracks of the system that would take us from a low maturity score to HIMSS Level 6, we knew we had a proven, tried and tested solution with Allscripts’ EPR. It was a flexible system that allowed us to build what we needed ourselves, while being confident that it would always work for us.”

Melissa Huff, Chief Information Officer at Clinics of North Texas, shared how the Allscripts Revenue Cycle Management was the best solution for her organization’s needs. “When looking into a revenue cycle services company that could help us, we had several come on site to discuss,” she said. The Allscripts Revenue Cycle Management staff offered the best product, for the best pricing, and was able to understand our processes right from the start. When Allscripts took over our revenue cycle initiatives they simply hit the ground running. She added, “Working with Allscripts is a true partnership. There is not a day that goes by where we don’t speak to our Revenue Cycle Management Services team. We know that at any time needed, we have a dedicated team we can reach out to. Our collections have increased by 3%. Our payments per encounter have increased. I am frequently asked if I could go back would I engage with Allscripts again. My answer: absolutely, yes! If you asked anybody in our organization I think everyone would tell you we should have made the change much sooner.”

Carol Bahner, from University Hospitals in Cleveland shared her experience at ACE. “What we loved the most about ACE this year was discussing the latest solutions, roadmaps and updates. ACE education content struck just the right balance between focusing on the products and inspiring the health-IT community. The sessions were interactive and provided the latest insights from fellow industry experts.”

Jill Helm of Veradigm participated in a Surescripts sponsored education session entitled, “Medication Cost Conversation – What’s the Hold Up?” The session covered the concept of prescription price transparency (PPT) and how Veradigm’s RxTruePrice solution enables physicians to have the difficult but needed conversation on prescription costs right at the point of prescribing. One session attendee remarked, “Excellent session about PPT and how to implement in real-life practice.”

No Kid Hungry Partnership for GiveBack Initiative

The World Health Organization estimates that by the end of 2020, the pandemic will have caused chronic hunger to increase by approximately 20% globally. During virtual ACE 2020, Allscripts partnered with No Kid Hungry, raising funds to support chronic hunger.

“Allscripts was honored to host thousands of our clients and healthcare thought leaders from around the world for our flagship event, hosted for the first time in a completely virtual environment,” said Allscripts CEO Paul Black. “Bringing together healthcare leaders from various sectors of our industry—especially during such a crucial, challenging time for global healthcare delivery—created engaging discussions that were informative, thought-provoking and inspiring. We look forward to building upon this year’s event with an even more successful ACE in 2021.”

About Allscripts

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

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

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

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

10/29/2020

Allscripts Announces Third Quarter 2020 Results
  • Third quarter operating margin and Adjusted EBITDA margin increased both year-over-year and sequentially
  • GAAP EPS of $0.00; 18% year-over-year growth in non-GAAP diluted EPS to $0.20
  • Generated $53 million of operating cash flow and $27 million of free cash flow in the third quarter

CHICAGO–(BUSINESS WIRE)–Oct. 29, 2020–
Allscripts Healthcare Solutions, Inc. (Nasdaq: MDRX) (Allscripts) announced its financial results for the three and nine months ended September 30, 2020.

Bookings(1) were $187 million in the third quarter of 2020. This result compares with $236 million in the third quarter of 2019. Contract revenue backlog totaled $4.4 billion as of September 30, 2020.

Third quarter 2020 revenue was $402 million compared with $444 million in the third quarter of 2019.

On a GAAP basis in the third quarter of 2020 income from operations was $9 million and included $13 million of severance and other restructuring charges primarily related to the Company’s cost reduction actions executed during the quarter. GAAP income from operations in the third quarter of 2019 was $3 million and included $16 million of restructuring and other charges. Non-GAAP income from operations in the third quarter of 2020 was $49 million compared with $44 million in the third quarter of 2019.

GAAP net income in the third quarter of 2020 totaled $1 million compared with net loss of $6 million in the third quarter of 2019. Non-GAAP net income in the third quarter of 2020 was $33 million compared with $28 million in the third quarter of 2019.

GAAP earnings per share in the third quarter of 2020 was $0.00 compared with loss per share of $0.03 in the third quarter of 2019. Non-GAAP diluted earnings per share in the third quarter of 2020 were $0.20 compared with $0.17 in the third quarter of 2019.

Adjusted EBITDA totaled $81 million in the third quarter of 2020, compared with $74 million in the third quarter of 2019.

Stock repurchases totaled $46 million in the third quarter of 2020.

“Allscripts saw continued success in the third quarter as we managed through a challenging time for our clients while remaining focused on delivering innovative solutions and improving profitability across the business,” commented Paul M. Black, Allscripts Chief Executive Officer. “I am pleased with our execution even as the typically seasonally weaker third quarter was impacted by challenges related to the ongoing pandemic. Our successful margin improvement initiatives delivered increased earnings and cash flow in this uncertain environment. We expect that our agreement to sell CarePort and the sale of EPSi will create heightened focus on our core business while providing significant capital to reduce leverage and return cash to shareholders.”

Conference Call

Allscripts will conduct a conference call today, Thursday, October 29th, 2020, at 4:30 PM Eastern Time to discuss its earnings release and other information. Participants may access the conference call via webcast at http://investor.allscripts.com. Participants also may access the conference call by dialing +1 (877) 269-7756 or +1 (201) 689-7817 (international) and requesting Conference ID # 13710937.

A replay of the call will be available approximately two hours after the conclusion of the call, for a period of four weeks, on the Allscripts Investor Relations website or by calling +1 (877) 660-6853 or +1 (201) 612-7415 – Conference ID # 13710937.

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

Footnotes

(1)

Bookings have been determined on a continuing operations basis and reflect the value of executed contracts for software, hardware, other client services, private-cloud hosting services, outsourcing and subscription-based services.

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

About Allscripts

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

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

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

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding profitability initiatives, the pending sale of CarePort and plans to reduce leverage and return capital to shareholders. These forward-looking statements are based on the current beliefs and expectations of Allscripts management, only speak as of the date that they are made and are subject to significant risks and uncertainties. Such statements can be identified by the use of words such as “future,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “will,” “would,” “could,” “can,” “may,” and similar terms. Actual results could differ significantly from those set forth in the forward-looking statements, and reported results should not be considered an indication of future performance or events. Certain factors that could cause Allscripts actual results to differ materially from those described in the forward-looking statements include, but are not limited to: the timing or ultimate completion of the sale of our CarePort business, as the transaction is subject to certain closing conditions, including the expiration or termination of the waiting period under U.S. antitrust laws; our use of the proceeds from the sale of our EPSi business and the contemplated sale of our CarePort business; our ability to achieve the margin targets associated with our margin improvement initiatives within the contemplated time periods, if at all; the magnitude, severity and duration of the COVID-19 pandemic, including the impacts of the pandemic, along with the impacts of our responses and the responses by governments and other businesses to the pandemic, on our business, our employees, our clients and our suppliers; the failure by Practice Fusion to comply with the terms of its settlement agreements with the U.S. Department of Justice (the “DOJ”); the costs and burdens of compliance by Practice Fusion with the terms of its settlement agreements with the DOJ; additional investigations and proceedings from governmental entities or third parties other than the DOJ related to the same or similar conduct underlying the DOJ’s investigations into Practice Fusion’s business practices; our ability to recover from third parties (including insurers) any amounts required to be paid in connection with Practice Fusion’s settlement agreements with the DOJ and related inquiries; the expected financial results of businesses acquired by us; the successful integration of businesses recently acquired by us; the anticipated and unanticipated expenses and liabilities related to businesses acquired by us, including the civil investigation by the U.S. Attorney’s Office involving our Enterprise Information Solutions business (the “EIS business”); security breaches resulting in unauthorized access to our or our clients’ computer systems or data, including denial-of-services, ransomware or other Internet-based attacks; our 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; 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; 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; our ability to maintain or expand our business with existing customers; risks related to international operations; changes in tax rates or laws; business disruptions; our ability to maintain proper and effective internal controls; and asset and long-term investment impairment charges. Additional information about these and other risks, uncertainties, and factors affecting our business is contained in our filings with the Securities and Exchange Commission, including under the caption “Risk Factors” in our most recent Allscripts Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Qs. Allscripts does not undertake to update forward-looking statements to reflect changed assumptions, the impact of circumstances or events that may arise after the date of the forward-looking statements, or other changes in its business, financial condition or operating results over time.

Table 1

Allscripts Healthcare Solutions, Inc.

Condensed Consolidated Balance Sheets

(In millions)

(Unaudited)

 

 

 

 

 

 

 

September 30,

 

December 31,

 

2020

 

2019

ASSETS
Current assets:
Cash and cash equivalents

$218.7

$129.6

Restricted cash

$6.2

$7.9

Accounts receivable, net

$381.9

$459.8

Contract assets

$101.3

$96.0

Prepaid expenses and other current assets

$135.9

$148.0

Assets held for sale

$104.8

$0.0

Total current assets

$948.8

$841.3

Fixed assets, net

$70.0

$88.3

Software development costs, net

$241.7

$243.9

Intangible assets, net

$329.0

$374.1

Goodwill

$1,287.2

$1,362.0

Deferred taxes, net

$5.9

$5.7

Contract assets – long-term

$42.8

$67.6

Right-of-use assets – operating leases

$102.2

$98.0

Other assets

$118.7

$124.8

Total assets

$3,146.3

$3,205.7

 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable

$53.6

$104.0

Accrued expenses

$166.2

$270.7

Accrued compensation and benefits

$97.5

$68.6

Deferred revenue

$339.3

$379.8

Current maturities of long-term debt

$48.3

$364.5

Current operating lease liabilities

$22.3

$23.1

Liabilities held for sale

$17.5

$0.0

Total current liabilities

$744.7

$1,210.7

Long-term debt

$1,026.0

$551.0

Deferred revenue

$11.6

$12.3

Deferred taxes, net

$24.5

$21.0

Long-term operating lease liabilities

$98.9

$95.2

Other liabilities

$32.2

$30.3

Total liabilities

$1,937.9

$1,920.5

Total stockholders’ equity

$1,208.4

$1,285.2

Total liabilities and stockholders’ equity

$3,146.3

$3,205.7

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,

2020

 

2019

 

2020

 

2019

Revenue:
Software delivery, support and maintenance

$250.6

$284.4

$770.2

$844.9

Client services

151.5

159.8

454.8

475.8

Total revenue

402.1

444.2

1,225.0

1,320.7

Cost of revenue:
Software delivery, support and maintenance

75.4

83.4

225.9

248.5

Client services

131.9

156.2

420.2

452.2

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

33.2

29.3

95.9

86.5

Total cost of revenue

240.5

268.9

742.0

787.2

Gross profit

161.6

175.3

483.0

533.5

Selling, general and administrative expenses

97.2

101.1

309.1

306.9

Research and development

48.5

63.9

158.9

191.6

Impairments (recovery)

0.2

0.2

0.2

4.0

Amortization of intangible and acquisition-related assets

6.3

6.9

19.3

20.4

Income (loss) from operations

9.4

3.2

(4.5)

10.6

Interest expense and other, net (b)

(7.3)

(10.0)

(31.2)

(175.1)

Recovery (impairment) on long-term investments

(1.0)

0.0

(1.6)

1.0

Equity in net income (loss) of unconsolidated investments

0.4

0.3

17.4

0.5

Income (loss) before income taxes

1.5

(6.5)

(19.9)

(163.0)

Income tax (provision) benefit

(1.0)

0.8

(7.5)

(0.6)

Net income (loss)

0.5

(5.7)

(27.4)

(163.6)

Net (income) loss attributable to non-controlling interest

0.0

0.0

0.0

0.4

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

$0.5

($5.7)

($27.4)

($163.2)

 
Income (loss) earnings per share – basic

$0.00

($0.03)

($0.17)

($0.97)

Income (loss) earnings per share – diluted

$0.00

($0.03)

($0.17)

($0.97)

 
Weighted average common shares outstanding:
Basic

161.1

166.4

162.1

167.6

Diluted

163.3

166.4

162.1

167.6

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

2020

 

2019

 

2020

 

2019

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

$24.6

$20.1

$70.2

$59.3

Amortization of acquisition-related intangible assets

8.6

9.2

25.7

27.2

Total amortization of software development and acquisition-related assets

$33.2

$29.3

$95.9

$86.5

 
(b) Interest expense and other, net are comprised of the following for the periods presented:
 
Non-cash charges to interest expense

$1.3

$3.4

$10.9

$10.0

Interest expense

5.7

6.7

17.8

19.3

Amortization of discounts and debt issuance costs

0.7

0.7

2.5

2.1

Other (income) loss, net

(0.4)

(0.8)

0.0

143.7

Total interest expense and other, net

$7.3

$10.0

$31.2

$175.1

 
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,

2020

 

2019

 

2020

 

2019

Cash flows from operating activities:
Net income (loss)

$0.5

($5.7)

($27.4)

($163.6)

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

49.2

51.7

153.7

152.3

Operating right-to-use asset amortization

5.2

5.7

16.1

16.7

Stock-based compensation expense

8.8

7.8

25.9

29.6

Deferred Taxes

(0.2)

(1.6)

2.9

(3.1)

Asset impairment charges

0.2

0.2

0.2

4.0

Impairment (recovery) of long-term investments

1.0

0.0

1.6

(1.0)

Other (income) loss, net

(1.1)

0.3

(18.2)

2.1

Total non-cash adjustments to net income (loss)

63.1

64.1

182.2

200.6

Cash impact of changes in operating assets and liabilities:
Assets

31.6

29.0

68.5

54.5

Liabilities

(26.6)

(51.6)

(62.7)

(172.6)

Accrued DOJ settlement

(15.7)

0.0

(88.7)

145.0

Total cash impact of changes on operating assets and liabilities

(10.7)

(22.6)

(82.9)

26.9

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

52.9

35.8

71.9

63.9

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

0.0

0.0

0.0

(30.0)

Net cash provided by (used in) operating activities

52.9

35.8

71.9

33.9

Cash flows from investing activities:
Capital expenditures

(3.0)

(4.1)

(7.9)

(13.5)

Capitalized software

(22.7)

(31.0)

(78.0)

(86.2)

Sales (purchases) of equity securities in partner entities, business
acquisitions, net of cash acquired and other investments

1.6

(17.7)

21.0

(30.6)

Other proceeds from investing activities

0.0

0.0

0.0

0.0

Net cash provided by (used in) investing activities

(24.1)

(52.8)

(64.9)

(130.3)

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

0.0

(0.1)

(5.5)

(6.8)

Repayment of Convertible Senior Notes

(345.0)

0.0

(352.3)

0.0

Payments for issuance costs on 0.875% Convertible Senior Notes

0.0

0.0

(0.8)

0.0

Credit facility payments

(7.5)

(5.0)

(175.0)

(15.0)

Credit facility borrowings, net of issuance costs

388.6

69.2

673.6

249.2

Repurchase of common stock

(45.6)

(37.1)

(55.3)

(102.2)

Repurchase of unsettled common stock

0.0

(9.3)

0.0

(9.3)

Payment of acquisition and other financing obligations

0.0

(9.9)

(4.4)

(11.5)

Purchases of subsidiary shares owned by non-controlling interest

0.0

0.0

0.0

(54.0)

Net cash provided by (used in) financing activities

(9.5)

7.8

80.3

50.4

Effect of exchange rate changes on cash and cash equivalents

0.4

(0.2)

0.1

(0.1)

Net increase (decrease) in cash and cash equivalents

19.7

(9.4)

87.4

(46.1)

Cash, cash equivalents and restricted cash, beginning of period

205.2

148.1

137.5

184.8

Cash, cash equivalents and restricted cash, end of period

$224.9

$138.7

$224.9

$138.7

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,

2020

 

2019

 

2020

 

2019

Total revenue, as reported

$402.1

$444.2

$1,225.0

$1,320.7

Acquisition-related deferred revenue adjustments

0.0

0.4

0.0

1.5

Total non-GAAP revenue

$402.1

$444.6

$1,225.0

$1,322.2

 
Gross profit, as reported

$161.6

$175.3

$483.0

$533.5

Acquisition-related deferred revenue adjustments

0.0

0.4

0.0

1.5

Acquisition-related amortization

8.6

9.2

25.7

27.2

Stock-based compensation expense

1.8

1.1

4.6

4.5

Restructuring and other

(0.1)

6.0

2.9

8.2

Total non-GAAP gross profit

$171.9

$192.0

$516.2

$574.9

 
Income (loss) from operations, as reported

$9.4

$3.2

($4.5)

$10.6

Acquisition-related deferred revenue adjustments

0.0

0.4

0.0

1.5

Acquisition-related amortization

14.9

16.1

45.0

47.6

Stock-based compensation expense

10.7

8.5

29.4

32.5

Impairments (recovery)

0.2

0.2

0.2

4.0

Restructuring and other

13.3

15.7

50.0

34.4

Total non-GAAP income from operations

$48.5

$44.1

$120.1

$130.6

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

$0.5

($5.7)

($27.4)

($163.6)

Net (income) loss attributable to non-controlling interest

0.0

0.0

0.0

0.4

Income (loss), net of tax

$0.5

($5.7)

($27.4)

($163.2)

Acquisition-related deferred revenue adjustments

0.0

0.4

0.0

1.5

Acquisition-related amortization

14.9

16.1

45.0

47.6

Stock-based compensation expense

10.7

8.5

29.4

32.5

Restructuring and other

13.3

15.6

50.0

179.0

Non-cash charges to interest expense and other

1.5

3.4

13.1

10.3

Impairments (recovery)

1.2

0.2

1.8

3.0

Equity in net loss (income) of unconsolidated investments

(0.4)

(0.3)

(17.4)

(0.5)

Tax rate alignment

(9.2)

(9.8)

(17.0)

(25.9)

Non-GAAP net (income)/loss attributable to non-controlling interest

0.0

0.0

0.0

(0.3)

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

$32.5

$28.4

$77.5

$84.0

 
Non-GAAP effective tax rate

24%

24%

24%

24%

 
Weighted shares outstanding – basic

161.1

166.4

162.1

167.6

Weighted shares outstanding – diluted

163.3

167.9

163.7

169.6

 
GAAP Income (loss) earnings per share – basic

$0.00

($0.03)

($0.17)

($0.97)

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

$0.20

$0.17

$0.47

$0.50

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,

2020

 

2019

 

2020

 

2019

Net income (loss), as reported

$0.5

($5.7)

($27.4)

($163.6)

Plus:
Interest expense and other, net (a)

5.3

5.9

17.5

18.0

Depreciation and amortization

49.2

51.7

153.7

152.3

Equity in net (income) loss of unconsolidated investments

(0.4)

(0.3)

(17.4)

(0.5)

Tax provision/(benefit)

1.0

(0.8)

7.5

0.6

EBITDA

$55.6

$50.8

$133.9

$6.8

Plus:
Acquisition-related deferred revenue adjustments

0.0

0.4

0.0

1.5

Stock-based compensation expense

10.7

8.5

29.4

32.5

Restructuring and other

13.3

14.1

50.0

177.5

Impairments (recovery)

1.2

0.2

1.8

3.0

Adjusted EBITDA

$80.8

$74.0

$215.1

$221.3

 
Adjusted EBITDA margin (b)

20.1%

16.6%

17.6%

16.7%

 
(a) Interest expense and other, net has been adjusted from the amounts presented in the statements of operations in order to remove the amortization of the fair value of the cash conversion option embedded in the 1.25% and .875% Cash Convertible Notes and deferred debt issuance costs from interest expense since such amortization is also included in depreciation and amortization.
 
(b) Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by non-GAAP revenue.

Explanation of Non-GAAP Financial Measures

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

  • Non-GAAP revenue consists of GAAP revenue, as reported, and adds back recognized deferred revenue from the EIS business, Practice Fusion, HealthGrid, NantHealth’s provider/patient solutions business and non-material consolidated affiliates that is eliminated for GAAP purposes due to purchase accounting adjustments. Reconciliations to GAAP revenue are found in Table 4 within this press release.
  • Non-GAAP gross profit consists of GAAP gross profit, as reported, and excludes acquisition-related deferred revenue adjustments, acquisition-related amortization, stock-based compensation expense and restructuring and other costs. Non-GAAP gross margin consists of non-GAAP gross profit as a percentage of non-GAAP revenue in the applicable period. Reconciliations to GAAP gross profit are found in Table 4 within this press release.
  • Non-GAAP operating expense consists of GAAP selling, general and administrative expenses (SG&A) and research and development expense (R&D), as reported, and excludes restructuring and other costs and stock-based compensation expense recorded to SG&A and R&D. Reconciliations to GAAP operating expense are found in Table 4 within this press release.
  • Non-GAAP income from operations consists of GAAP income (loss) from operations, as reported, and excludes acquisition-related deferred revenue adjustments, acquisition-related amortization, stock-based compensation expense, impairment charges and restructuring and other costs. Reconciliations to GAAP income (loss) from operations are found in Table 4 within this press release.
  • Adjusted EBITDA is a non-GAAP measure and consists of GAAP net income/(loss), as reported, and adjusts for: acquisition-related deferred revenue adjustments; depreciation and amortization; stock-based compensation expense; restructuring and other costs; impairment charges; gain on sale of businesses, net; interest expense and other, net; equity in net earnings of unconsolidated investments; and tax provision (benefit). Reconciliations to GAAP net income/(loss) are found in Table 5 within this press release.
  • Adjusted EBITDA margin is a non-GAAP measure that is calculated by dividing Adjusted EBITDA by non-GAAP revenue. See the reconciliations in Table 4 within this press release with respect to non-GAAP revenue and in Table 5 within this press release with respect to Adjusted EBITDA.
  • Non-GAAP effective income tax rate is based on non-GAAP pre-tax earnings and consists of the statutory federal income tax rate, Allscripts effective state income tax rate and adjustments for permanent differences.
  • Non-GAAP net income consists of GAAP net income/(loss), as reported, and adds back acquisition-related deferred revenue adjustments; acquisition-related amortization; stock-based compensation expense; restructuring and other costs; non-cash charges to interest expense and other; impairment charges and equity in net earnings of unconsolidated investments. Non-GAAP net income also includes a GAAP to non-GAAP tax rate alignment adjustment.
  • Non-GAAP net income attributable to Allscripts Healthcare Solutions, Inc. is a non-GAAP measure and consists of non-GAAP net income, as described above, with an adjustment to reduce non-GAAP net income for the percentage of non-controlling interest outside Allscripts ownership position. Reconciliations to GAAP net income/(loss) attributable to Allscripts Healthcare Solutions, Inc. are found in Table 4 within this press release.
  • Non-GAAP diluted earnings per share consist of non-GAAP net income, as defined above, divided by weighted shares outstanding – diluted during the applicable period.
  • Free cash flow consists of GAAP cash flows provided by operating activities in the applicable period, net of capital expenditures and capitalized software costs, including those incurred by businesses presented as discontinued operations. In the third quarter of 2020, cash flows provided by operating activities were $52.9 million. Cash flows provided by operating activities less capital expenditures of $3.0 million and capitalized software costs of $22.7 million resulted in free cash flow of $27.2 million in the third quarter of 2020.

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

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

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

Impairments (recovery). Impairment charges reflect the write-off of the book value of certain fixed assets that resulted from consolidating business functions and data centers and non-cash impairment charges associated with long-term investments based on management’s assessment of the likelihood of near-term recovery of the investments’ value.

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

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

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

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

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

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

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

Investors:

Stephen Shulstein

312-386-6735

stephen.shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare Solutions, Inc.

10/20/2020

Allscripts to Release Third-Quarter 2020 Financial Results October 29

CHICAGO–(BUSINESS WIRE)–Oct. 20, 2020–
Allscripts Healthcare Solutions, Inc. (Nasdaq:MDRX) will report its financial results for the three months ended September 30, 2020 after the close of stock market hours on Thursday, October 29, 2020. 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 2020 Financial Results Call Details

The Allscripts earnings announcement will be distributed immediately after the close of regular stock market hours on Thursday, October 29, 2020. 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 # 13710937.

A replay of the call will be available approximately two hours after the conclusion of the call, for a period of four weeks, on the Allscripts investor relations website or by calling (877) 660-6853 or (201) 612-7415 – Conference ID # 13710937.

About Allscripts

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

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

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

For more information contact:

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare Solutions, Inc.

10/15/2020

Allscripts Closes Previously Announced Sale of EPSi

CHICAGO–(BUSINESS WIRE)–Oct. 15, 2020–
Allscripts (NASDAQ: MDRX) closed the previously announced sale of EPSi to Strata Decision Technology on October 15 for $365 million. EPSi is a leading provider of financial decision support and planning tools for hospitals and health systems.

About Allscripts

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

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

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

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare, LLC

10/13/2020

Allscripts to sell CarePort Health business to WellSky

CHICAGO–(BUSINESS WIRE)–Oct. 13, 2020–
Allscripts (NASDAQ:MDRX) announced today the execution of a definitive agreement to sell its CarePort Health (“CarePort”) business to WellSky Corp., a global health and community care technology company. WellSky is jointly owned by two of the world’s largest private equity firms, TPG Capital and Leonard Green & Partners.

CarePort solutions assist hundreds of hospitals and thousands of post-acute care providers to efficiently coordinate and transition patients through different settings of care.

The agreed sale price of $1.35 billion represents a multiple of greater than 13 times CarePort’s revenue over the trailing 12 months, and approximately 21 times CarePort’s non-GAAP Adjusted EBITDA over the trailing 12 months. CarePort is included in Allscripts Data, Analytics and Care Coordination reporting segment and represents approximately 6% of Allscripts consolidated revenues. Reference should be made to the Allscripts quarterly earnings reports and supplemental financial data for a reconciliation of non-GAAP Adjusted EBITDA.

The transaction is expected to close before the end of the year, subject to receipt of regulatory clearances and satisfaction of other customary closing conditions. Upon transaction close, the CarePort client base and associates will transition to WellSky. The two companies will operate independently until that date. Allscripts expects the net after-tax proceeds to be used to invest in its solutions, further deleverage the company’s balance sheet and support significant share repurchases.

“WellSky is a great company that will provide both an ideal and permanent home for CarePort and its almost 200 team members,” said Rick Poulton, Allscripts President and Chief Financial Officer. “This agreement is another all-around win for Allscripts as it unlocks significant value for our shareholders, enables us to increase our focus on our core business and brings our CarePort customers the benefit of continued investment under new and very strong ownership.”

“Together with CarePort, WellSky will establish new, meaningful connections between historically disparate settings of care. We have the exciting opportunity to bring care coordination to more providers in service of delivering more informed, personalized care,” said Bill Miller, CEO of WellSky. “Through this agreement, we’re ensuring our clients have the intelligent technology they need to do right by their patients, collaborate with payers, and succeed in value-based care models. It’s WellSky’s mission to realize care’s potential, and this moves us that much closer to achieving it.”

William Blair and J.P. Morgan Securities, LLC acted as financial advisors to Allscripts in connection with the sale of CarePort. Additional details regarding the sale will be made available in a Form 8-K to be filed by Allscripts with the Securities and Exchange Commission.

About Allscripts

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

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

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

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements relating to the timing or ultimate completion of the sale of our Careport business, as the transaction is subject to certain closing conditions as noted herein, our use of the proceeds from the contemplated sale of our Careport business, and potential benefits to our shareholders. These forward-looking statements are based on the current beliefs and expectations of Allscripts management, only speak as of the date that they are made and are subject to significant risks and uncertainties. Such statements can be identified by the use of words such as “future,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “will,” “would,” “could,” “can,” “may,” and similar terms. Allscripts does not undertake to update forward-looking statements to reflect changed assumptions, the impact of circumstances or events that may arise after the date of the forward-looking statements, or other changes in its business, financial condition or operating results over time.

For more information contact:

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

10/08/2020

Allscripts continues to lead in interoperability, driving successful healthcare delivery

Company enables healthcare professionals and patients to share data across the continuum

CHICAGO–(BUSINESS WIRE)–Oct. 8, 2020–
Allscripts (NASDAQ: MDRX) remains committed to effective interoperability in healthcare delivery. A leader in interoperability and open platforms, the company has made it a priority to deliver clinicians accessible, clinically relevant information at the point of care, creating a community patient record and enabling successful care delivery.

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

Every month the following volumes are enabled:

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

Over the past 12 months, dbMotion has achieved significant client success with the sharing of information including:

  • 1B+ pieces of patient demographics data
  • 650M+ observation results
  • 350M+ pharmacy data
  • 289M+ documents
  • 104M+ orders (pharmacy/treatment)
  • 58M+ full patient data records

Allscripts was recently recognized as a growth and innovation top-performing leader in Frost & Sullivan’s Frost Radar™: US Healthcare Data Interoperability Market, 2020. The report states that Allscripts demonstrates superior interoperability across the entire HIT ecosystem by enabling the direct integration of third-party clinical decision support applications into the company’s platforms through on-premise or cloud deployment models.

“Allscripts has advocated for having an open platform since 2007 and we believe interoperability is the foundation for advancing healthcare—data and access should be Open. For Everyone™,” said Allscripts Chief Executive Officer, Paul M. Black. “Our systems—all of them—should be able to talk to each other. Through dbMotion, we have helped providers all around the world collaborate, deliver higher-quality care, lower costs and help consumers achieve better outcomes. We are proud of the interoperability tools we offer, creating a health ecosystem where critical data is made useful by combining isolated islands of community information into a single, actionable patient record. We remain committed to assisting in successful healthcare delivery for today and tomorrow.”

About Allscripts

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

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

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

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

09/15/2020

Allscripts to Host Free Virtual Allscripts Client Experience Event

Company makes it All Possible with user conference featuring more than 100 online sessions and partnering with No Kid Hungry to raise funds supporting chronic hunger

CHICAGO–(BUSINESS WIRE)–Sep. 15, 2020–
Allscripts (NASDAQ: MDRX) today announced its 2020 Allscripts Client Experience (ACE) will take place virtually October 6-8, 2020 at no cost to attendees. This event will bring together thousands of the company’s valued clients, strategic partners and Health IT leaders from around the world to discuss industry drivers and trends that impact healthcare organizations today and help prepare them for tomorrow.

On the Mainstage

The conference will feature discussions and presentations on key issues for the healthcare industry in 2020, including the COVID-19 pandemic and its permanent impact on care delivery and other key topics affecting healthcare today. Special sessions include:

  • Leading Through Disruption in Healthcare

    Nicholas Webb, founding CEO of LeaderLogic, LLC

    Healthcare has been the subject of massive disruption in recent years, a trend that has been accelerated even further as a result of the “C19 Economy.” The changes require that healthcare leaders develop a new range of skills and insights around the three big shifts in healthcare: 1) Hyper-consumerization, 2) Enabling technologies and 3) New economic/value models. Based on three years of fresh research from his most recent book, “The Healthcare Mandate,” Nicholas will provide practical takeaways to help leaders drive scalable growth and future readiness.

  • Patient Privacy, Healthcare and Big Data

    Bill Cassidy, MD, Senior Senator from Louisiana and practicing gastroenterologist

    In recent years, after learning more about the use of data sourced from consumer wearables and patient apps, Dr. Cassidy has led Congressional efforts to close gaps in HIPAA protections for patients and ensure they and the providers caring for them are more aware of how that data is used after being entered by the patient. Dr. Cassidy will speak about the challenges of patient privacy in the current digital environment and efforts in Congress to provide legal clarifications in this area, as well as taking questions from the audience.

  • Health Equity: Accelerating the Bend Toward Justice by Addressing Social Determinants of Health

    Claire Pomeroy, MD, MBA, President of Albert and Mary Lasker Foundation

    Despite having what is arguably the best-trained clinical workforce in the world, the current U.S. healthcare system is characterized by disparities, sub-optimal outcomes and unsustainable costs. Factors such as race/ethnicity, education, housing, geography, job opportunities and socio-economic status are powerful drivers of health status, and recognizing these issues as health issues makes both societal and financial sense. Successful implementation of a “social determinants approach” requires intersectoral collaboration, policy changes, technologic solutions and new payment models, as well as a commitment to training a diverse health workforce.

  • 2020 Election Analysis: Politics in Healthcare and the Polls

    Charlie Cook, Editor and Publisher of The Cook Political Report and Columnist for the National Journal

    A trusted and accurate voice on all things political whose newsletter is considered by those in Washington, D.C. to be the definitive source for voting data analytics, Charlie Cook will use poll numbers, economic indicators, and historical data to discuss today’s political and legislative environment in a balanced, non-partisan way. Once deemed “the Picasso of election analysis” by the Wall Street Journal, his expertise and encyclopedic knowledge of American politics is regularly featured on myriad news outlets. In addition, Cook will discuss the effect of the election on the healthcare industry and what he anticipates the future will look like, as well as outline how the current pandemic has impacted the political landscape and race to the White House

  • Opioid Crisis – Where are We, What’s Next?

    Yngvild Olsen, MD, MPH, Medical Director for the Institutes for Behavior Resources Inc/REACH Health Services

    This presentation will provide an update on the current status of the opioid crisis, including how it’s evolved during the COVID-19 pandemic, and highlight recent federal and state-level efforts to address it. Dr. Olsen will describe the impact these efforts have had on treatment systems and patients, drawing from her own experience as a practitioner during these unprecedented times. The presentation will also look ahead to the future, past the COVID-19 pandemic, and Dr. Olsen will discuss what must be done to end the opioid crisis.

  • Better Together: Transforming Care Delivery with Health Information Technology

    Patty Obermaier, Vice President, U.S. Health & Life Sciences at Microsoft, and Lisa Khorey, Executive Vice President and Chief Client Delivery Officer at Allscripts

    In this Fireside Chat, attendees will learn about the strategic partnership between Allscripts and Microsoft. Allscripts will discuss the future of Sunrise in the cloud, how providers can transform and innovate during difficult times and what this transformation means for Sunrise™ electronic health record customers and their patients.

Sessions at a Glance

In addition to thought leadership, Allscripts will offer more than a hundred sessions for solution users presented by clients and Allscripts experts. During these sessions, clients will:

  • Hear Allscripts clients share stories of clinical, financial and operational excellence
  • Explore trends, innovations and what’s next for healthcare and Health IT, with interactive presentations by industry leaders
  • Learn from Allscripts solution leaders about what’s next for its core healthcare IT solutions
  • Receive practical guidance to help prepare for the industry-changing ONC regulation on Information Blocking and Interoperability, which all Allscripts clients should be preparing for
  • Join solution, sales and industry partners to learn about solution highlights that can improve and enhance outcomes for their organizations
  • Discover more about proposed and final rules from ONC and CMS, and how Allscripts continues to support regulatory compliance
  • Enjoy time with peers—connect with one another in Allscripts virtual spaces created specially to socialize

No Kid Hungry Partnership for GiveBack Initiative

COVID-19 is not just a healthcare crisis—it’s a human crisis. The World Health Organization estimates that by the end of 2020, the pandemic will have caused chronic hunger to increase by approximately 20% globally. During virtual ACE 2020, Allscripts will partner with No Kid Hungry to help raise funds and use combined efforts as a force for good.

“Allscripts understands the pressures the spread of COVID-19 is putting on healthcare organizations,” said Allscripts Chief Executive Officer, Paul Black. “While normally our clients attend ACE in person, this year we’re offering a free virtual experience, enabling us to pivot our resources as needed to adapt to the evolving crisis and more importantly, keep attendees safe. We look forward to connecting with our valued clients and partners to discuss the ways in which we come together to transform care delivery with health information technology.”

About Allscripts

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

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

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

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare, LLC

09/08/2020

Allscripts to Present at the Wells Fargo 2020 Virtual Healthcare Conference

CHICAGO–(BUSINESS WIRE)–Sep. 8, 2020–
Allscripts (NASDAQ: MDRX) today announced that certain members of its management team will present at the 2020 Wells Fargo Healthcare Conference on Wednesday, September 9 at 11:20 am ET.

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

About Allscripts

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

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

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

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare, LLC

08/27/2020

Allscripts Continuing to Lead in Physician Practice Market With Series of New Wins

 Physician practices are selecting Allscripts to drive results and enable safer, more informed patient care

CHICAGO–(BUSINESS WIRE)–Aug. 27, 2020–
Allscripts ambulatory business has seen increasing momentum with 18 new physician practices selecting Allscripts (Nasdaq: MDRX) this year for ambulatory and population health solutions to help provide safer patient care, streamline operations and improve revenue for their organizations.

Family Medical Associates of Raleigh selected Allscripts® Practice Management, Allscripts Professional EHR™, Allscripts Payerpath and personal health record Allscripts FollowMyHealth® to manage its revenue cycle effectively and help provide high-quality care to its patients. Family Medical Associates of Raleigh provides family medicine to patients of all ages. It has been a Patient-Centered Medical Home (PCMH) since 2010, providing comprehensive and continuous medical care with the goal of improving the health of all patients.

Urology Centers of Alabama (UCA) selected Allscripts Practice Management, Allscripts Professional EHR, Allscripts Payerpath and personal health record, Allscripts FollowMyHealth. UCA is the largest urology group in Alabama, serving the Birmingham and surrounding areas. UCA specializes in the comprehensive treatment of urological disorders using the most advanced technology available. UCA has Centers of Excellence in the treatment of Prostate, Kidney and Bladder Cancer, Erectile Dysfunction, Female Incontinence, Robotic Surgery, Kidney Stones and Medical Research. With 24 urologists, two urogynecologists, two radiation oncologists, one medical oncologist, one pathologist, a team of physicians’ assistants and nurse practitioners and more than 200 employees, the practice has earned a well-deserved reputation for excellence in the Birmingham, AL medical community.

“Urology Centers of Alabama wanted to partner with an EHR provider that would allow us to continue our mission of providing state-of-the-art, patient-centered urologic care with integrity and compassion,” said Jason Biddy, Chief Executive Officer, Urology Centers of Alabama. “We feel confident that Allscripts will allow us to continue this mission and we look forward to a longstanding partnership.”

Urology Associates of Mobile selected the Allscripts Professional EHR suite, Allscripts Payerpath and personal health record Allscripts FollowMyHealth to help improve outcomes and streamline the patient experience. Urology Associates of Mobile is a renowned medical practice that provides the highest level of urologic, urogynecologic and urologic oncologic care at its locations in Mobile, Foley, Daphne, Grove Hill, Thomasville, AL and Lucedale, Mississippi.

AllCare Health, located in Grants Pass, OR, selected Allscripts Practice Management, Allscripts Professional EHR, Allscripts Payerpath and personal health record Allscripts FollowMyHealth to help independent physicians thrive and care for South Oregon’s population. AllCare Health is a physician-led organization that offers a wide range of quality health plans and services designed to meet the needs of the state’s diverse communities. Its team and integrated network of healthcare providers are fully committed to improving physician-led, member-focused healthcare for the communities within southern Oregon.

“We picked Allscripts because they have all the tools our physician practices and management services organization need,” said AllCare Health Director, eHealth Business Services, Greg Halsted. “An integrated EMR, PM, clearinghouse, portal and telehealth are allowing us to streamline operations and reduce the need for third party connections.”

Synovation Medical Group, located in Pasadena, CA selected Allscripts Practice Management, Allscripts Professional EHR, Allscripts Payerpath, Allscripts Revenue Cycle Management Services and personal health record Allscripts FollowMyHealth. Synovation Medical Group is a physician-owned, medical practice management company that provides physicians and healthcare organizations with comprehensive business support, management and marketing services, billing and collections solutions, and surgery center and real estate development. The organization also offers practice development, physician office staffing, IT support and medical practice consulting.

“We did a significant amount of due diligence during our vendor search, specifically around clinical, financial, and patient engagement operations,” said Synovation Medical Group Chief Information Officer, Damian Dyer. “Allscripts showed they have a robust platform that can serve the needs of our growing organization.”

“Physician practices and clinics play a critical role in the care continuum and are currently facing significant challenges brought on by the COVID-19 pandemic,” said Leah Jones, Senior Vice President and General Manager of Allscripts Ambulatory. “At Allscripts, we pride ourselves on offering solutions that receive significant input from physician users and advisors, like Allscripts Professional EHR. We’re excited to partner with these physician practices to continuously improve the quality of patient care delivered by their organizations.”

About Allscripts

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

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

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

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

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