Potential sale increases focus on growing core businesses
CHICAGO, Feb. 10 /PRNewswire-FirstCall/ — Allscripts-Misys Healthcare
Solutions, Inc. (“Allscripts”) announced today that it has reached an
agreement in principle, subject to negotiation of and entry into a definitive
agreement, to sell its Medication Services business. Closing of the
transaction is expected to be subject to customary closing conditions, but no
assurances can be given that a definitive agreement for the sale will be
entered into or that the conditions to consummating the transaction contained
in any such definitive agreement will be met.
(Logo: http://www.newscom.com/cgi-bin/prnh/20081013/AQM041LOGO)
Allscripts’ Medication Services business (or prepackaged medications
segment) provides point-of-care medication management and medical supply
services and solutions for physicians and other healthcare providers.
“The proposed sale of our Medication Services business increases our focus
on our core healthcare information technology businesses at a time when we
expect electronic health records and electronic prescribing, along with our
interoperability and connectivity efforts, to receive a substantial boost from
the federal economic stimulus package,” said Glen Tullman, Chief Executive
Officer of Allscripts. “We want the total focus of the business to be on
taking advantage of this opportunity to accelerate growth. The transaction
would also provide the Medication Services business with an opportunity to
invest and grow with the total focus of the new company.”
As part of the transaction, Allscripts intends to continue to offer
medication services to existing and future clients of Allscripts under a
co-marketing agreement.
About Allscripts
Allscripts (Nasdaq: MDRX) uses innovation technology to bring health to
healthcare. More than 150,000 physicians, 700 hospitals and nearly 7,000
post-acute and homecare organizations utilize Allscripts to improve the health
of their patients and their bottom line. The company’s award-winning solutions
include electronic health record, electronic prescribing, revenue cycle
management, practice management, document management, medication services,
hospital care management, emergency department information systems and
homecare automation. Allscripts is the brand name of Allscripts-Misys
Healthcare Solutions, Inc. To learn more, visit www.allscripts.com.
This press release contains certain statements other than historical
facts, which constitute forward-looking statements within the meaning of the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Readers are cautioned not to place undue reliance on these
forward-looking statements, each of which is qualified in its entirety by
reference to the following cautionary statements. Forward-looking statements
speak only as of the date hereof and are based on current expectations and
involve a number of assumptions, risks and uncertainties that are beyond
Allscripts-Misys’ control and could cause actual results to differ materially
from those projected in the forward-looking statements. Risks and
uncertainties that may affect forward-looking statements are described in the
reports filed by Allscripts-Misys with the Securities and Exchange Commission
(the “SEC”), which are available at the website maintained by the SEC at
www.sec.gov, including without limitation Allscripts-Misys’ Annual Report on
Form 10-K for the year ended December 31, 2007. Allscripts can give no
assurance that any of the transactions related to the Medication Solutions
Group will be completed or that the potential conditions to the transactions
will be satisfied. Allscripts undertakes no obligation to revise or update any
forward-looking statement, or to make any other forward-looking statements,
whether as a result of new information, future events or otherwise. Allscripts
is not responsible for updating the information contained in this
communication beyond the published date, or for changes made to this
communication by wire services or Internet service providers.
SOURCE Allscripts-Misys Healthcare Solutions, Inc.
– 02/10/2009
CONTACT: Dan Michelson, Chief Marketing Officer, +1-312-506-1217,
dan.michelson@allscripts.com, or Todd Stein,
Senior Manager/Public Relations,
+1-312-506-1216, todd.stein@allscripts.com,
both of Allscripts-Misys Healthcare Solutions, Inc.
Web Site: https://www.allscripts.com
(MDRX)