CHICAGO, June 10 /PRNewswire-FirstCall/ — Allscripts announced today that
its 3.50 percent Convertible Senior Debentures due 2024 (the “Debentures”) are
now convertible at the option of the holders of the Debentures and will remain
convertible during the fiscal quarter ending August 31, 2009. Any
determinations regarding the convertibility of the Debentures during future
periods will be made in accordance with the terms of the indenture under which
the Debentures were issued (the “Indenture”).
The Debentures became convertible because the last reported sale price of
Allscripts common stock for at least 20 consecutive trading days within the
30-trading-day period ending on May 29, 2009 was greater than 130 percent of
the conversion price in effect on May 29, 2009. As a result, during the
conversion period, holders of the Debentures may convert the Debentures into
shares of common stock, subject to the terms of the Indenture. Pursuant to
the terms of the Indenture, the Debentures are convertible at the conversion
rate of 124.3781 shares per $1,000 principal amount of each Debenture.
Allscripts has the right to satisfy the conversion with cash in lieu of shares
of common stock in accordance with the terms of the Indenture.
Additionally, Allscripts announced today that, pursuant to the terms of
the Indenture, holders of Debentures have the right to require Allscripts to
repurchase their Debentures (the “Repurchase Right”) for cash in an amount
equal to 100 percent of the principal amount of the Debentures ($1,000 per
each $1,000 principal amount outstanding) plus accrued and unpaid interest and
Liquidated Damages (as defined in the Indenture) to, but excluding, July 15,
2009. The Repurchase Right is subject to the terms and conditions described
in the Notice of Right to Require Repurchase sent to Debenture holders and the
Indenture. The Repurchase Right will expire at 5:00 p.m., Eastern Daylight
Time, on July 15, 2009.
In order to surrender Debentures for purchase, a purchase notice must be
delivered to Wilmington Trust FSB, as successor trustee and paying agent to
LaSalle Bank N.A., or through The Depository Trust Company by 5:00 p.m.,
Eastern Daylight Time, on July 15, 2009. Holders may withdraw any Debentures
previously surrendered for purchase at any time prior to 5:00 p.m., Eastern
Daylight Time, on July 15, 2009 by delivering a notice of withdrawal to the
paying agent at the address listed in the Notice of Right to Require
Repurchase or through the Depository Trust Company. Debenture holders are
urged to consult their tax advisor regarding the tax consequences of the
foregoing.
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 records, 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 news release may contain forward-looking statements within the
meaning of the federal securities laws. Statements regarding future events,
developments, the Company’s future performance, as well as management’s
expectations, beliefs, intentions, plans, estimates or projections relating to
the future are forward-looking statements within the meaning of these laws.
These forward-looking statements are subject to a number of risks and
uncertainties, some of which are outlined below. As a result, actual results
may vary materially from those anticipated by the forward-looking statements.
Among the important factors that could cause actual results to differ
materially from those indicated by such forward-looking statements are: the
volume and timing of systems sales and installations; length of sales cycles
and the installation process; the possibility that products will not achieve
or sustain market acceptance; the timing, cost and success or failure of new
product and service introductions, development and product upgrade releases;
competitive pressures including product offerings, pricing and promotional
activities; our ability to establish and maintain strategic relationships;
undetected errors or similar problems in our software products; compliance
with existing laws, regulations and industry initiatives and future changes in
laws or regulations in the healthcare industry; possible regulation of the
Company’s software by the U.S. Food and Drug Administration; the possibility
of product-related liabilities; our ability to attract and retain qualified
personnel; our ability to identify and complete acquisitions, manage our
growth and integrate acquisitions; the ability to recognize the benefits of
the merger with Misys Healthcare Systems, LLC (“MHS”); the integration of MHS
with the Company and the possible disruption of current plans and operations
as a result thereof; maintaining our intellectual property rights and
litigation involving intellectual property rights; risks related to
third-party suppliers; our ability to obtain, use or successfully integrate
third-party licensed technology; breach of our security by third parties; and
the risk factors detailed from time to time in our reports filed with the
Securities and Exchange Commission, including our 2007 Annual Report on Form
10-K available through the Web site maintained by the Securities and Exchange
Commission at www.sec.gov. The Company undertakes no obligation to update
publicly any forward-looking statement, whether as a result of new
information, future events or otherwise.
SOURCE Allscripts – 06/10/2009
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
Web Site: https://www.allscripts.com
(MDRX)
CO: Allscripts; Allscripts-Misys Healthcare Solutions, Inc.