CHICAGO–(BUSINESS WIRE)–Feb. 21, 2006–Allscripts (Nasdaq:MDRX)
announced today that Allscripts and General Electric Company, the
parent of IDX Systems Corporation, have reached an agreement for
Allscripts to purchase 1.25 million shares of Allscripts common stock
directly from GE at the initial offering price of Allscripts’
previously announced proposed offering of common stock, after
deducting a standard underwriting discount and commission. The
agreement is conditioned upon the closing of the proposed offering.
Following the announcement of the proposed offering, GE contacted
Allscripts and the two companies agreed that Allscripts would assist
GE in selling a portion of its holdings in Allscripts in a cooperative
fashion. Following the purchase, these shares of Allscripts will no
longer be outstanding.
Glen Tullman, Chief Executive Officer of Allscripts, stated: “We
were pleased to accommodate GE’s investment objectives.”
The terms of the agreement provide that GE will lock-up the
remaining portion of their shares for 60 days from the pricing of the
offering.
Michael Jones, Executive Vice President, Business Development, GE
Healthcare, commented, “We manage our investment portfolio separately
from our business relationship with Allscripts, which was amended
earlier this year. We continue to value our relationship with
Allscripts.”
About Allscripts
Allscripts is a leading provider of clinical software,
connectivity and information solutions that physicians use to improve
healthcare. Allscripts’ Clinical Solutions Group’s clinical software
applications include Electronic Health Record, e-prescribing and
document imaging solutions. Additionally, Allscripts provides clinical
product education and connectivity solutions for physicians and
patients through its Physicians Interactive(TM) Group and medical
fulfillment services through its Medication Solutions Group.
This announcement shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor shall there be any offer of the
common stock of Allscripts in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
Statements in this press release contain forward-looking
information within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934, including
statements about the agreement with GE and the proposed offering of
common stock. These statements involve a number of risks and
uncertainties, including investor response to the proposed offering,
the trading prices for the Allscripts’ common stock during the
offering period, other conditions in the financial markets and
customary closing conditions. For a more complete discussion of the
risks, uncertainties and assumptions that may affect Allscripts, see
the Company’s preliminary prospectus supplement relating to the
proposed offering and the Company’s 2004 Annual Report on Form 10-K,
available through the Web site maintained by the Securities and
Exchange Commission at www.sec.gov.
CONTACT: Allscripts
Bill Davis, 312-506-1211
bill.davis@allscripts.com
SOURCE: Allscripts