CHICAGO, April 9 /PRNewswire-FirstCall/ — Allscripts-Misys Healthcare
Solutions, Inc. (“Allscripts”) announced today information related to the
federal income tax treatment of the special dividend of $5.23 per share
distributed in connection with the transactions Allscripts consummated with
Misys plc on October 10, 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20081013/AQM041LOGO)
At the time of the special dividend, Allscripts disclosed that in general
the special dividend would be taxable as a dividend to the extent of current
and accumulated earnings and profits of legacy Allscripts Healthcare
Solutions, Inc. through December 31, 2008, but that the amount of such
earnings and profits could not be determined until after the end of 2008.
Allscripts has now completed its review of Allscripts earnings and profits and
has determined that, of the special cash dividend of $5.23 per share, the
first 10.28%, or approximately $0.54 per share, is taxable as a dividend.
Thereafter, the special cash dividend will generally be treated as a tax-free
return of capital that reduces a stockholder’s tax basis in its shares of
Allscripts common stock to the extent of such tax basis and, after such basis
has been reduced to zero, taxable as gain from the sale or exchange of
Allscripts common stock. As required by applicable regulations, the special
cash dividend had previously been reported on IRS Form 1099 as being entirely
taxable. Amended IRS Forms 1099 to reflect this final tax treatment will be
distributed.
The tax treatment of the special cash dividend will depend on the
individual circumstances of each stockholder and stockholders are urged to
seek advice from their tax advisor. For additional information on the tax
treatment of the special cash dividend, you may refer to the section of the
definitive proxy statement filed by Allscripts with the Securities and
Exchange Commission on August 21, 2008 entitled “Material U.S. Federal Income
Tax Consequences of the Transactions” beginning on page 64 of such proxy
statement.
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.
SOURCE Allscripts – 04/09/2009
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,
or Bill Davis, Chief Financial
Officer, +1-312-506-1211,
bill.davis@allscripts.com, all of Allscripts
Web Site: https://www.allscripts.com
(MDRX)