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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

08/25/2020

Innovation Improves Care Delivery Around the World

Allscripts robust patent program earns five new application patents in eight days

CHICAGO–(BUSINESS WIRE)–Aug. 25, 2020–
Allscripts Healthcare Solutions (NASDAQ: MDRX) was recently awarded five separate patents over the course of just eight days, reflecting the company’s commitment to delivering unique solutions to its clients and demonstrating its significant momentum in health IT innovation. The Allscripts patent program is expected to add numerous additional patents throughout the remainder of 2020 as the company will deliver innovation to improve how clinicians deliver care and connect the overall patient experience.

Each of the patents recently awarded contributes to streamlining and improving healthcare delivery. For example, one of the patents is for an application that connects electronic health records (EHRs) to various wellness applications to provide patients frictionless goal-tacking functionality, which directly leads to a higher level of patient engagement. Another application enables API calls from EHRs to initiate searches over genetic testing data stores. A patent was also issued for an application that helps organizations secure data in a HIPAA-compliant manner that will not cause performance issues that are often associated with typical encryption practices.

With a long history as a leader in healthcare technology, Allscripts continues seizing opportunities to enrich its offerings. Through extensive investment in software R&D these efforts have resulted in an extensive patent program that has 150 patents issued plus another 150-plus patents currently pending. In 2013 there was one patent in the Allscripts portfolio. Allscripts’ vision remains firmly set on providing healthcare organizations the distinctive solutions they need to deliver excellent care.

“Innovation is at the core of everything we do and I’m proud of the visionary work our team consistently executes upon to grow the capabilities of our solutions to help our clients deliver better care,” said Allscripts CEO, Paul Black. “Allscripts believes that healthcare solutions should be open, for everyone, and leading-edge innovation is the driver to make that a reality.”

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.

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

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare Solutions

08/19/2020

Allscripts and Sheba Medical Center Launch Partnership to Further Healthcare Innovation

Healthcare IT vendor and Israeli hospital collaborate to create network of innovators

CHICAGO–(BUSINESS WIRE)–Aug. 19, 2020–
Allscripts (NASDAQ: MDRX) and Israel’s Sheba Medical Center have formed a partnership to accelerate the pace of artificial intelligence technologies and to improve patient care through the hospitals’ ARC Innovation Center. ARC, which is an acronym for accelerate, redesign, and collaborate, is the innovation arm of Sheba Medical Center which has a vision to transform healthcare by 2030.

Sheba Medical Center, which currently uses the Allscripts dbMotion™ Solution for seamless interoperability and patient data harmonization, will host a lab space to promote innovation projects. Named by Newsweek as one of the top-ten hospitals in the world, the 2,000-bed hospital is the largest one in Israel, with state-of-the-art facilities located on a comprehensive, all-inclusive campus with a full range of medical divisions and specialties.

ARC Innovation brings new technologies into the hospital and community healthcare ecosystem to further improve patient care. It enables data fluidity and integration amongst innovators; scientists; startups; high-level developers; large and small companies; investors; and academia all under one roof. The organization focuses on digital health technologies, including precision medicine, big data and predictive analytics, telemedicine and mobile health. There are six medical tracks, with a senior Sheba physician leading each: telemedicine, precision medicine, digital innovation focusing on big data and artificial intelligence, augmented and virtual reality, rehabilitation and surgical innovation.

As part of this joint initiative, Allscripts’ open system will be accessible in a space for researchers and developers, and ARC will serve as the platform for cooperation with Allscripts. In addition, Sheba Medical Center’s clinical and research staff and Israeli startups will assist by focusing on healthcare information technology. ARC and Allscripts will proactively seek out ideas and initiatives to enhance the development of new telemedicine and mobile solutions, including a future electronic health record encompassing home hospitalization medical information.

“Our partnership with Allscripts will provide a significant boost to startups and clinicians as they build new capabilities into Allscripts solutions through their unique Open platforms. With the need in rapid changes these days, we need a leader like Allscripts who’s agile, open and connected to the needs of patients, clinicians and governments”, stated Dr. Eyal Zimlichman, MD, MSc (MHCM), Deputy Director General, Chief Medical Officer and Chief Innovation Officer at Sheba Medical Center.

“Sheba Medical Center is an exemplar for successful healthcare delivery. Allscripts is proud to advance our partnership even further through the ARC initiative,” said Paul M. Black, Allscripts Chief Executive Officer. “Creating an environment that encourages collaboration between some of the brightest minds in healthcare information technology speaks to our commitment to continuously innovate, capitalizing on our 13 year commitment to an Open platform, and our long standing belief to include the best minds to advance and best meet the needs of providers and patients across the globe.”

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 more informed 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

Sheba Medical Center, International Media Relations:

Steve Walz

972-52-233-0430

Steve.Walz@sheba.health.gov.il

Source: Allscripts

08/10/2020

Allscripts Announces Appointment of New Director to Board

Former Bechtel Corporation executive Carol Zierhoffer joins Board of Directors

CHICAGO–(BUSINESS WIRE)–Aug. 10, 2020–
Carol Zierhoffer has been named to the Board of Directors of Allscripts (NASDAQ: MDRX) Healthcare Solutions, Inc. A former executive at engineering and construction company Bechtel Corporation, Zierhoffer has more than 30 years of experience in information technology. She will serve as a member of the Audit Committee of the Board.

Most recently and until her retirement in October 2019, Zierhoffer served as the Senior Vice President and Global Chief Information Officer at Bechtel, where she oversaw the company’s Global Information Systems & Technology organization. Zierhoffer’s responsibilities included Bechtel’s business and technology solutions, cybersecurity, infrastructure and operations, innovation, emerging technology and knowledge management for the company’s business lines and projects worldwide.

“Carol Zierhoffer is a strong addition to our Board and her vast experience and success as a business leader will further bolster our efforts to serve Allscripts stakeholders,” said Chairman of the Board Michael Klayko. “Carol has a proven track record of execution and driving greater value and her breadth of knowledge will power her work alongside her fellow directors and Allscripts leadership.”

Prior to her time at Bechtel, Zierhoffer served as Vice President and Global Chief Information Officer of Xerox Corporation from 2012 through 2013. She also served as Vice President and Global Chief Information Officer of ITT Corporation from 2008 through 2011 and Vice President and Chief Information Officer of three Northrop Grumman Corporation sectors – Electronics, Information Technology and Mission Systems – from 2002 through 2008. Zierhoffer was a member of the board of directors, as well as the chair of the information technology committee and on the audit committee, of MedAssets, Inc., from April 2013 through January 2016.

Currently, Ms. Zierhoffer serves on the board of directors of Vizient Inc., on the executive advisory board of Nutanix, Inc. and as a founding board member of A Little Compassion, a non-profit company focused on creating opportunities for young adults with disabilities to build a bridge to adulthood.

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 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

08/03/2020

Allscripts Cloud-Based EHR Solution to Support MicroHealth, LLC for Use Within the United States Department of State

CHICAGO–(BUSINESS WIRE)–Aug. 3, 2020–
Allscripts (NASDAQ: MDRX) today announced that it will serve as a subcontractor to the prime contractor, MicroHealth, LLC, a health information technology firm, as they work to migrate the U.S. Department of State medical health units to a cloud-based solution for its global electronic health records.

MicroHealth will implement Allscripts TouchWorks® EHR, along with FollowMyHealth®, as the integrated mobile personal health record. Through this teaming arrangement, approximately 450 healthcare providers and other clinical staff at the Department of State will gain access to the scalable EHR as it is deployed around the world at more than 200 designated Health Units housed within embassies and missions on a rolling basis through 2023.

“Allscripts is honored to work with MicroHealth to provide our industry-recognized EHR for the benefit of Department of State patients and clinicians,” said Allscripts Chief Executive Officer, Paul Black. “Allscripts has the right set of solutions to complement MicroHealth’s expertise in support of this important initiative.”

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

07/30/2020

Strata Decision Technology to Acquire EPSi From Allscripts

CHICAGO–(BUSINESS WIRE)–Jul. 30, 2020–
Strata Decision Technology (Strata), a pioneer and leader in the development of cloud-based financial planning, analytics and performance tools for healthcare, today announced that it has reached a definitive agreement to acquire EPSi from Allscripts (NASDAQ: MDRX) for $365 million. EPSi is a leading provider of financial decision support and planning tools for hospitals and health systems.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200730006054/en/

“By bringing these two outstanding companies together, we believe that we can build one of the most important companies in helping to solve the biggest problem in healthcare – the cost of it,” said Dan Michelson, Chief Executive Officer of Strata. “Our focus will be to accelerate innovation to provide broader and deeper solutions to help our customers, deliver the highest service levels in the industry, and create the very best place to work in healthcare.”

Hospitals and healthcare delivery systems were already under significant financial pressure with margins rapidly declining over the last few years. COVID-19 has caused a significant increase in the cost of care coupled with major declines in both patient and procedure volume, creating what is seen as the biggest financial crisis in the history of healthcare. The combination of Strata and EPSi will bring healthcare providers a set of innovative solutions and services to help them better plan, analyze and perform in support of providing care in the communities that they serve.

“Strata is a world-class company that will provide both an ideal and permanent home for EPSi,” said Rick Poulton, Allscripts President and Chief Financial Officer. “This agreement is a triple win for EPSi customers and Allscripts shareholders as it allows us to efficiently recirculate capital, increase our focus on our core businesses, and bring our EPSi customers the benefit of continued investment under new and very strong ownership.”

The transaction is expected to close later this year, subject to regulatory approval and customary closing conditions. Allscripts has owned the EPSi business since it acquired Eclipsys, Inc. in 2010. Upon closing of the transaction, the EPSi customer base and associates will transition to Strata. The two companies will operate independently until the deal closes.

RBC Capital Markets, LLC served as Allscripts’ exclusive financial advisor in connection with the sale of EPSi and Zeigler served as financial advisor to EPSi management.

About Strata Decision Technology

Strata Decision Technology provides an innovative cloud-based financial analytics and performance platform that is used by healthcare providers for financial planning, decision support and continuous improvement. Founded in 1996, the Company’s customer base includes over 220 healthcare delivery systems. The Company’s StrataJazz® application is a single integrated software-as-a-service platform that includes modules for capital planning, continuous improvement, contract modeling, cost accounting, cost management, decision support, financial forecasting, management reporting, operational budgeting and performance improvement and strategic planning. The Company’s headquarters are in Chicago, IL. For more information, please visit www.stratadecision.com.

About Allscripts

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

Strata:

Lesley Weisnbacher

312.827.3379

lweisenbacher@stratadecision.com

Investors:

Stephen Shulstein

312-386-6735

stephen.shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

07/30/2020

Allscripts Announces Second Quarter 2020 Results
  • GAAP EPS of ($0.05); 6% year-over-year growth in non-GAAP diluted EPS to $0.18
  • Signed definitive agreement to sell EPSi business unit for $365 million 

CHICAGO–(BUSINESS WIRE)–Jul. 30, 2020–
Allscripts Healthcare Solutions, Inc. (Nasdaq: MDRX) (Allscripts) announced its financial results for the three and six months ended June 30, 2020.

Bookings(1) were $188 million in the second quarter of 2020. This result compares with $276 million in the second quarter of 2019. Contract revenue backlog totaled $4.4 billion as of June 30, 2020.

Second quarter 2020 revenue was $406 million compared with $445 million in the second quarter of 2019.

On a GAAP basis in the second quarter of 2020 loss from operations was $5 million and included $28 million of severance and other restructuring charges related to the Company’s significant cost reduction actions executed during the quarter. GAAP income from operations in the second quarter of 2019 was $5 million and included $9 million of restructuring and other charges. Non-GAAP income from operations in the second quarter of 2020 was $45 million compared with $45 million in the second quarter of 2019.

GAAP net loss in the second quarter of 2020 totaled $8 million compared with $150 million in the second quarter of 2019. Non-GAAP net income in the second quarter of 2020 was $30 million compared with $29 million in the second quarter of 2019.

GAAP loss per share in the second quarter of 2020 was $0.05 compared with loss per share of $0.90 in the second quarter of 2019. Non-GAAP diluted earnings per share in the second quarter of 2020 were $0.18 compared with $0.17 in the second quarter of 2019.

Adjusted EBITDA totaled $77 million in the second quarter of 2020, compared with $75 million in the second quarter of 2019.

Earlier today, Allscripts signed a definitive agreement to sell its EPSi business unit to Strata Decision Technology, a unit of Roper Technologies, Inc. for $365 million. The transaction is expected to close later in the third quarter once customary closing conditions are satisfied. Upon transaction close, the EPSi client base and associates will transition to the buyer. The two companies will operate independently until the deal closes.

“Our second quarter results showed resilience as Allscripts and our clients continued to manage through the COVID-19 pandemic,” commented Paul M. Black, Allscripts Chief Executive Officer. “We leveraged both new and existing innovative solutions to support our clients and improve patient outcomes during this challenging time. At the same time, we remain focused on improving our cost structure to reflect the current revenue environment and we were successful in expanding Adjusted EBITDA margins across our business. We expect to remain disciplined around costs while also delivering for our clients as we benefit from a nimble operating model and the investments we have made across our portfolio. We are also pleased to unlock significant value for our shareholders through the definitive agreement to sell EPSi.”

Conference Call

Allscripts will conduct a conference call today, Thursday, July 30th, 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 # 13706228. Allscripts will also provide a supplemental presentation with an update on the company’s margin improvement initiatives and segment reporting. The presentation will be available on the Allscripts Investor Relations website in advance of the call.

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 # 13706228.

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 management’s plans in response to the current revenue environment. 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. 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 EPSi 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 contemplated sale of our EPSi 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 its 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)
 

June 30,

 

 

December 31,

2020

 

 

2019

ASSETS
Current assets:
Cash and cash equivalents

$199.0

$129.6

Restricted cash

$6.2

$7.9

Accounts receivable, net

$415.8

$459.8

Contract assets

$99.7

$96.0

Prepaid expenses and other current assets

$149.1

$148.0

Total current assets

$869.8

$841.3

Fixed assets, net

$75.7

$88.3

Software development costs, net

$253.4

$243.9

Intangible assets, net

$343.6

$374.1

Goodwill

$1,361.4

$1,362.0

Deferred taxes, net

$5.3

$5.7

Contract assets – long-term

$47.6

$67.6

Right-of-use assets – operating leases

$107.7

$98.0

Other assets

$124.3

$124.8

Total assets

$3,188.8

$3,205.7

 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable

$75.6

$104.0

Accrued expenses

$190.6

$270.7

Accrued compensation and benefits

$82.1

$68.6

Deferred revenue

$366.4

$379.8

Current maturities of long-term debt

$374.5

$364.5

Current operating lease liabilities

$22.1

$23.1

Total current liabilities

$1,111.3

$1,210.7

Long-term debt

$661.7

$551.0

Deferred revenue

$12.1

$12.3

Deferred taxes, net

$23.9

$21.0

Long-term operating lease liabilities

$104.8

$95.2

Other liabilities

$32.1

$30.3

Total liabilities

$1,945.9

$1,920.5

Total stockholders’ equity

$1,242.9

$1,285.2

Total liabilities and stockholders’ equity

$3,188.8

$3,205.7

Table 2

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

Three Months Ended June 30,

 

Six Months Ended June 30,

2020

 

 

2019

 

 

2020

 

 

2019

 

Revenue:
Software delivery, support and maintenance

$256.0

 

$285.0

 

$519.6

 

$560.5

 

Client services

150.2

 

159.5

 

303.3

 

316.0

 

Total revenue

406.2

 

444.5

 

822.9

 

876.5

 

Cost of revenue:
Software delivery, support and maintenance

74.2

 

84.1

 

150.5

 

165.1

 

Client services

135.5

 

147.3

 

288.3

 

296.0

 

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

32.1

 

29.0

 

62.7

 

57.2

 

Total cost of revenue

241.8

 

260.4

 

501.5

 

518.3

 

Gross profit

164.4

 

184.1

 

321.4

 

358.2

 

Selling, general and administrative expenses

114.6

 

105.6

 

211.9

 

205.8

 

Research and development

48.2

 

63.4

 

110.4

 

127.7

 

Impairments (recovery)

0.0

 

3.7

 

0.0

 

3.8

 

Amortization of intangible and acquisition-related assets

6.3

 

6.7

 

13.0

 

13.5

 

Income (loss) from operations

(4.7

)

4.7

 

(13.9

)

7.4

 

Interest expense and other, net (b)

(12.2

)

(155.4

)

(23.9

)

(165.1

)

Recovery (impairment) on long-term investments

(0.6

)

0.0

 

(0.6

)

1.0

 

Equity in net income (loss) of unconsolidated investments

16.8

 

0.3

 

17.0

 

0.2

 

Income (loss) before income taxes

(0.7

)

(150.4

)

(21.4

)

(156.5

)

Income tax (provision) benefit

(6.8

)

0.5

 

(6.5

)

(1.4

)

Net income (loss)

(7.5

)

(149.9

)

(27.9

)

(157.9

)

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

($7.5

)

($149.9

)

($27.9

)

($157.5

)

 
Income (loss) earnings per share – basic

($0.05

)

($0.90

)

($0.17

)

($0.94

)

Income (loss) earnings per share – diluted

($0.05

)

($0.90

)

($0.17

)

($0.94

)

 
Weighted average common shares outstanding:
Basic

162.7

 

166.5

 

162.6

 

168.2

 

Diluted

162.7

 

166.5

 

162.6

 

168.2

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

2020

 

 

2019

 

 

2020

 

 

2019

 

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

$23.6

 

$20.0

 

$45.6

 

$39.2

 

Amortization of acquisition-related intangible assets

8.5

 

9.0

 

17.1

 

18.0

 

Total amortization of software development and acquisition-related assets

$32.1

 

$29.0

 

$62.7

 

$57.2

 

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

$4.8

 

$3.3

 

9.6

 

$6.6

 

Interest expense

5.6

 

6.4

 

12.1

 

$12.6

 

Amortization of discounts and debt issuance costs

0.9

 

0.7

 

1.8

 

$1.4

 

Other (income) loss, net

0.9

 

145.0

 

0.4

 

144.5

 

Total interest expense and other, net

$12.2

 

$155.4

 

$23.9

 

$165.1

 

Table 3
Allscripts Healthcare Solutions, Inc.
Condensed Consolidated Statements of Cash Flows
(In millions)
(Unaudited)
 

Three Months Ended June 30,

 

Six Months Ended June 30,

2020

 

 

2019

 

 

2020

 

 

2019

 

Cash flows from operating activities:
Net income (loss)

($7.5

)

($149.9

)

($27.9

)

($157.9

)

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

52.4

 

50.5

 

104.5

 

100.6

 

Operating right-to-use asset amortization

5.3

 

5.7

 

10.9

 

11.0

 

Stock-based compensation expense

7.1

 

10.1

 

17.1

 

21.8

 

Deferred Taxes

5.2

 

0.0

 

3.1

 

(1.5

)

Asset impairment charges

0.0

 

3.7

 

0.0

 

3.8

 

Impairment (recovery) of long-term investments

0.6

 

0.0

 

0.6

 

(1.0

)

Other (income) loss, net

(17.4

)

0.1

 

(17.1

)

1.8

 

Total non-cash adjustments to net income (loss)

53.2

 

70.1

 

119.1

 

136.5

 

Cash impact of changes in operating assets and liabilities:
Assets

11.6

 

(10.4

)

36.9

 

25.5

 

Liabilities

(18.9

)

82.5

 

(36.1

)

(121.0

)

Accrued DOJ settlement

(15.7

)

0.0

 

(73.0

)

145.0

 

Total cash impact of changes on operating assets and liabilities

(23.0

)

72.1

 

(72.2

)

49.5

 

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

22.7

 

(7.7

)

19.0

 

28.1

 

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

22.7

 

(7.7

)

19.0

 

(1.9

)

Cash flows from investing activities:
Capital expenditures

(2.1

)

(4.6

)

(4.9

)

(9.4

)

Capitalized software

(26.7

)

(26.6

)

(55.3

)

(55.2

)

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

22.4

 

(12.9

)

19.4

 

(12.9

)

Other proceeds from investing activities

0.0

 

0.0

 

0.0

 

0.0

 

Net cash provided by (used in) investing activities

(6.4

)

(44.1

)

(40.8

)

(77.5

)

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

(2.3

)

(1.4

)

(5.5

)

(6.7

)

Repayment of Convertible Senior Notes

(7.3

)

0.0

 

(7.3

)

0.0

 

Payments for issuance costs on 0.875% Convertible Senior Notes

0.0

 

0.0

 

(0.8

)

0.0

 

Credit facility payments

(87.5

)

(5.0

)

(167.5

)

(10.0

)

Credit facility borrowings, net of issuance costs

75.0

 

60.0

 

285.0

 

180.0

 

Repurchase of common stock

0.0

 

0.0

 

(9.7

)

(65.1

)

Payment of acquisition and other financing obligations

(1.5

)

(1.5

)

(4.4

)

(1.6

)

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

(23.6

)

52.1

 

89.8

 

42.6

 

Effect of exchange rate changes on cash and cash equivalents

0.4

 

(0.1

)

(0.3

)

0.1

 

Net increase (decrease) in cash and cash equivalents

(6.9

)

0.2

 

67.7

 

(36.7

)

Cash, cash equivalents and restricted cash, beginning of period

212.1

 

147.9

 

137.5

 

184.8

 

Cash, cash equivalents and restricted cash, end of period

$205.2

 

$148.1

 

$205.2

 

$148.1

 

Table 4
Allscripts Healthcare Solutions, Inc.
Condensed Non-GAAP Financial Information
(In millions, except per share amounts and percentages)
(Unaudited)
 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

2020

 

2019

 

 

2020

 

2019

Total revenue, as reported

$406.2

 

$444.5

 

$822.9

 

$876.5

 

Acquisition-related deferred revenue adjustments

0.0

 

0.5

 

0.0

 

1.1

 

Total non-GAAP revenue

$406.2

 

$445.0

 

$822.9

 

$877.6

 

 
Gross profit, as reported

$164.4

 

$184.1

 

$321.4

 

$358.2

 

Acquisition-related deferred revenue adjustments

0.0

 

0.5

 

0.0

 

1.1

 

Acquisition-related amortization

8.5

 

9.0

 

17.1

 

18.0

 

Stock-based compensation expense

1.1

 

1.8

 

2.8

 

3.4

 

Restructuring and other

(1.1

)

1.0

 

3.0

 

2.2

 

Total non-GAAP gross profit

$172.9

 

$196.4

 

$344.3

 

$382.9

 

 
Income (loss) from operations, as reported

($4.7

)

$4.7

 

($13.9

)

$7.4

 

Acquisition-related deferred revenue adjustments

0.0

 

0.5

 

0.0

 

1.1

 

Acquisition-related amortization

14.8

 

15.7

 

30.1

 

31.5

 

Stock-based compensation expense

7.6

 

11.2

 

18.7

 

24.0

 

Impairments (recovery)

0.0

 

3.7

 

0.0

 

3.8

 

Restructuring and other

27.6

 

9.0

 

36.7

 

18.7

 

Total non-GAAP income from operations

$45.3

 

$44.8

 

$71.6

 

$86.5

 

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

($7.5

)

($149.9

)

($27.9

)

($157.9

)

Net (income) loss attributable to non-controlling interest

0.0

 

0.0

 

0.0

 

0.4

 

Income (loss), net of tax

($7.5

)

($149.9

)

($27.9

)

($157.5

)

Acquisition-related deferred revenue adjustments

0.0

 

0.5

 

0.0

 

1.1

 

Acquisition-related amortization

14.8

 

15.7

 

30.1

 

31.5

 

Stock-based compensation expense

7.6

 

11.2

 

18.7

 

24.0

 

Restructuring and other

27.6

 

154.0

 

36.7

 

163.7

 

Non-cash charges to interest expense and other

5.9

 

3.3

 

11.6

 

6.6

 

Impairments (recovery)

0.6

 

3.7

 

0.6

 

2.8

 

Equity in net loss (income) of unconsolidated investments

(16.8

)

(0.3

)

(17.0

)

(0.2

)

Tax rate alignment

(2.6

)

(9.5

)

(7.8

)

(16.1

)

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.

$29.6

 

$28.7

 

$45.0

 

$55.6

 

 
Non-GAAP effective tax rate

24

%

24

%

24

%

24

%

 
Weighted shares outstanding – basic

162.7

 

166.5

 

162.6

 

168.2

 

Weighted shares outstanding – diluted

163.1

 

167.5

 

163.8

 

169.6

 

 
GAAP Income (loss) earnings per share – basic

($0.05

)

($0.90

)

($0.17

)

($0.94

)

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

$0.18

 

$0.17

 

$0.27

 

$0.33

 

 

Table 5

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

Three Months Ended June 30,

 

 

Six Months Ended June 30,

2020

 

2019

 

 

2020

 

2019

Net income (loss), as reported

($7.5

)

($149.9

)

($27.9

)

($157.9

)

Plus:
Interest expense and other, net (a)

6.4

 

6.4

 

12.2

 

12.1

 

Depreciation and amortization

52.4

 

50.5

 

104.5

 

100.6

 

Equity in net (income) loss of unconsolidated investments

(16.8

)

(0.3

)

(17.0

)

(0.2

)

Tax provision/(benefit)

6.8

 

(0.5

)

6.5

 

1.4

 

EBITDA

$41.3

 

($93.8

)

$78.3

 

($44.0

)

Plus:
Acquisition-related deferred revenue adjustments

0.0

 

0.5

 

0.0

 

1.1

 

Stock-based compensation expense

7.6

 

11.2

 

18.7

 

24.0

 

Restructuring and other

27.6

 

153.7

 

36.7

 

163.4

 

Impairments (recovery)

0.6

 

3.7

 

0.6

 

2.8

 

Adjusted EBITDA

$77.1

 

$75.3

 

$134.3

 

$147.3

 

 
Adjusted EBITDA margin (b)

19.0

%

16.9

%

16.3

%

16.8

%

 

(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 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.

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.

07/23/2020

Allscripts clients dedicated to patient health throughout COVID-19 pandemic

 Organizations around the globe taking action to ensure effective care delivery

CHICAGO–(BUSINESS WIRE)–Jul. 23, 2020–
Since the beginning of the COVID-19 pandemic, Allscripts (NASDAQ: MDRX) and its clients have taken significant actions to ensure effective care delivery in the communities they serve. With unwavering dedication to patient health, caregivers from both large hospital systems and independent physician practices around the world continue to excel in the face of the unprecedented crisis to help manage their patients and combat the spread of the virus.

New York State’s largest health system and longtime Allscripts partner, Northwell Health, was at the epicenter of the outbreak in its initial stages. The system is powered by more than 72,000 clinicians and administrators, and many of its facilities use the Sunrise electronic health record to treat patients and analyze data to identify trends to help improve patient outcomes amidst the pandemic.

“COVID-19 is impacting patients in ways we have never seen before, and it’s critical we study the vast amount of data we’ve collected to continue to refine our treatment plans,” said Northwell Health Senior Vice President and Deputy Physician-in-Chief Thomas McGinn, MD, MPH. “With Allscripts as our trusted partner and its solutions in our arsenal, we’re tackling the spread of the disease and learning how to better manage this crisis.”

Working closely with its clients,, Allscripts has helped healthcare organizations rapidly implement telehealth capabilities to enable virtual patient visits at many organizations. Throughout the COVID-19 experience, more than 100 Allscripts clients have selected FollowMyHealth Telehealth, which creates engagement of patients in their homes and fosters increased communication between them and their healthcare providers.

Hackley Community Care Center—located in Muskegon Heights, Michigan—recently and very quickly enabled virtual patient visits using Allscripts Professional EHR Mobile and FollowMyHealth. The accomplishment meant its more than 50 caregivers in 14 locations seeing 300–350 patients a day could meet the COVID-19 pandemic head on while still serving all of its patients.

Megan Byrne, Hackley Assistant Operations Manager, said, “We had been using FollowMyHealth for five years, so when the pandemic hit, we already had the first step rolling for our patients. It was a good experience for them because it wasn’t something new. In an uncomfortable time for patients unable to see providers in person, the fact that they already had the technology on their phones, laptops and tablets made a huge difference in continuity of care.”

As the United Kingdom’s Dudley Group NHS Foundation Trust began preparing for the coronavirus outbreak, it decided to accelerate the deployment of the dbMotion Solution.

“Allscripts collaborated with the Trust to deploy the critical solution in only a matter of weeks, quickly helping position us to have access to the information we need to effectively meet the very high demand for acute patient care,” said Adam Thomas, Dudley Group’s Chief Information Officer.

In March in Australia, SA Health completed its Sunrise implementation at Royal Adelaide Hospital, the state’s flagship hospital. The health system implemented several innovations to ensure that all COVID-19 cases were prioritized and effectively managed, leveraging Sunrise’s full capabilities to successfully manage the influx of COVID-19 patients.

SA Health Chief Digital Health Officer Bret Morris said, “Sunrise EHR has been an important instrument in managing COVID-19 and the ability to adapt the solution at pace has enabled us to be nimble and powered excellent case traceability of patients as they moved through our system.”

Using the CarePort Health care coordination platform, hospitals in Michigan were enabled to proactively communicate COVID-19 testing status to post-acute providers, both pre- and post-discharge. As a result, post-acute providers could take necessary measures to protect staff and patients, as well as manage the use of personal protective equipment. CarePort also enabled hospitals to more easily identify post-acute providers accepting COVID-19 positive patients, minimizing time spent by discharge planners and case managers calling individual facilities to determine their capabilities and capacity. This was especially critical as hospitals across the state reached or exceeded capacity during the COVID-19 surge.

In addition, Veradigm, an Allscripts subsidiary focused on the payer and life sciences market, co-founded the COVID-19 Research Database, a repository of HIPAA-compliant, de-identified and limited patient-level data sets that are intended to be made available to public health and policy researchers pro-bono, enabling them to extract insights to help combat the COVID-19 pandemic. Veradigm also implemented new clinical workflows into its electronic health record to enable physicians to better identify patients at risk for the disease.

“By leveraging existing solutions and implementing new, innovative tools specifically designed to address the novel coronavirus, caregivers will continue to be positioned to meet the evolving challenges of the pandemic head on, as the healthcare industry navigates a volatile present and moves toward an uncertain future,” said Allscripts Chief Executive Officer Paul Black. “We’re proud to stand shoulder to shoulder with our clients as they continue to fight, every day, to ensure the health of their patients throughout this challenging time.”

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers 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

07/21/2020

Allscripts to Release Second-Quarter 2020 Financial Results July 30

CHICAGO–(BUSINESS WIRE)–Jul. 21, 2020–
Allscripts Healthcare Solutions, Inc. (Nasdaq:MDRX) will report its financial results for the three months ended June 30, 2020 after the close of stock market hours on Thursday, July 30, 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. Allscripts will also provide a supplemental presentation with an update on the company’s margin improvement initiatives and segment reporting. The presentation will be available on the Allscripts investor relations website in advance of the call. The company will conduct an extended question and answer session following the prepared remarks.

Second-Quarter 2020 Financial Results Call Details

The Allscripts earnings announcement will be distributed immediately after the close of regular stock market hours on Thursday, July 30, 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 # 13706228.

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 # 13706228.

About Allscripts

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

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

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

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare Solutions, Inc.

07/13/2020

Allscripts and Microsoft Extend Strategic Alliance to Transform Cloud-Based Health IT Solutions

Five-year extension will support Allscripts’ cloud-based Sunrise electronic health record and drive co-innovation

CHICAGO & REDMOND, Wash.–(BUSINESS WIRE)–Jul. 13, 2020–
Today Allscripts (MDRX: NASDAQ) and Microsoft Corp. announced the extension of their long-standing strategic alliance to enable the expanded development and delivery of cloud-based health IT solutions. The five-year extension will support Allscripts’ cloud-based Sunrise™ electronic health record, making Microsoft the cloud provider for the solution and opening up co-innovation opportunities to help transform healthcare with smarter, more scalable technology. The alliance will enable Allscripts to harness the power of Microsoft’s platform and tools, including Microsoft Azure, Microsoft Teams and Power BI, creating a more seamless and highly productive user experience. Allscripts is an award-winning Microsoft partner with past recognitions including 2019 U.S. Healthcare Partner of the Year and 2017 Global Healthcare Partner of the Year (Public Sector), and most recently received Microsoft’s 2020 Health Innovation – Reimagine Healthcare award for its subsidiary 2bPrecise.

Sunrise is an integrated EHR that connects all aspects of care, including acute, ambulatory, surgical, pharmacy, radiology and laboratory services including an integrated revenue cycle and patient administration system. Sunrise is a clinician-friendly, evidence-based single platform with integrated analytics that helps deliver better health outcomes in hospitals around the world.

Cloud-based Sunrise will offer many added benefits beyond the on-premise version that will improve organizational effectiveness, solution interoperability, clinician ease of use and an improved patient experience. Client benefits include a subscription model delivering faster implementations and lower annual upgrade costs, helping organizations leverage the software without increasing burdens on their internal IT resources. The cloud-based Sunrise solution will provide enhanced security, scalability and flexibility, as well as the opportunity to add new capabilities quickly as business needs and the cloud evolve. The cloud-based solution will also include expanded analytics and insights functionality that can quickly engage with the Internet of Things. Finally, the cloud-based Sunrise solution will include a marketplace that enables healthcare apps and third parties to easily integrate with a hospital EHR. Allscripts clients will begin to see these updates by the end of 2020.

“The COVID-19 pandemic will forever change how healthcare is delivered, and provider organizations around the world must ensure they are powered by innovative, interoperable, comprehensive and lower-cost IT solutions that meet the demands of our new normal,” said Allscripts Chief Executive Officer Paul Black. “Healthcare delivery is no longer defined by location—providers need to have the capability to reach patients where they are to truly deliver the care they require. Cloud solutions, mobile options, telehealth functionality—these are the foundational tools for not just the future of healthcare, but the present. Collaborating with Microsoft, the leader in the public cloud sector, we will efficiently deliver the tools caregivers need to improve the clinical outcomes of their patients and operational performance of their organizations.”

“Through our strategic alliance with Allscripts, we aspire to be a transformational force in the healthcare industry, delivering smarter, innovative solutions that power the essential human connections of care delivery and create a healthier future for patients worldwide,” said Microsoft vice president of US Health and Life Sciences Patty Obermaier. “At Microsoft, we believe the future of healthcare is an interoperable one, where cloud-enabled solutions will be critical in putting patients fully in charge of their own healthcare information. With this collaboration, Allscripts is working to make that future a reality.”

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 Microsoft

Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

© 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.

Disclaimer

  • The information contained in this press release is for informational purposes only. Microsoft makes no warranties, express or implied, in this press release.
  • Nothing in this press release modifies any of the terms and conditions of Microsoft’s written and signed agreements. This is not an offer and applicable terms and the information provided is subject to revision and may be changed at any time by Microsoft.
  • This press release does not give you or your organization any license to any patents, trademarks, copyrights, or other intellectual property covering the subject matter.
  • All processes, tools and functionality described in this press release are proposed.
  • The information contained in this press release represents the current view of Microsoft on the issues discussed as of the date of the release. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information presented after the date of this release.

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Microsoft Media Relations, WE Communications for Microsoft, (425) 638-7777, rrt@we-worldwide.com

Source: Allscripts

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