Physicians Interactive to Add Clients, Technology, and Personnel
CHICAGO, Jul 16, 2003 /PRNewswire-FirstCall via COMTEX/ — Allscripts Healthcare Solutions
(Nasdaq: MDRX), the leading provider of clinical software and information
solutions for physicians, announced today their agreement to acquire
substantially all of the assets of New York City-based RxCentric Inc., a
leading provider of technology-enabled sales and marketing solutions for the
pharmaceutical industry. The acquisition will enable AHS to increase sales
capacity, expand its product offering, gain a number of new client
relationships and assume a solid base of international business in eight
countries. In addition, AHS will acquire a database of approximately 50,000
physicians, as well as new technology products and services, all of which AHS
will integrate into its Physicians Interactive(TM) (PI) business unit.
The acquisition will provide immediate and long-term benefits for PI.
RxCentric brings a number of highly skilled sales professionals and additional
revenue that accelerates and strengthens PI’s operations. Integrating the
additional physicians in RxCentric’s database will improve PI’s ability to
recruit physicians to participate in interactive programs, resulting in
greater program efficiency. RxCentric’s technologies, which provide robust
multimedia capabilities, will complement the PI portfolio of solutions,
shortening development time and expanding the reach to physicians while
meeting the needs of clients who require both types of messaging. Key
RxCentric partnerships and alliances in the U.S. and Europe will enhance PI’s
domestic and emerging international market operations.
“RxCentric’s existing client base, international presence, multimedia
format, and experienced team further establish PI as the clear market leader
in this sector,” stated Glen Tullman, Chief Executive Officer of Allscripts
Healthcare Solutions. “The demand from pharmaceutical companies for effective
physician communication channels continues to offer a very significant market
The deal also provides additional brand access within a number of existing
PI accounts. Through this acquisition, RxCentric brings relationships with
different divisions at those shared clients, as well as with new clients,
helping PI to expand its presence and market share.
“We’re pleased to join the Physicians Interactive team, combining our
complementary visions of the marketplace and client relationships,” commented
Richard Findlay, President and Chief Executive Officer of RxCentric, who will
join PI as its head of worldwide sales and marketing operations. “The added
technology and experienced pharmaceutical professionals of RxCentric will
strengthen PI sales and marketing solutions.”
Following the acquisition, PI will continue to support existing RxCentric
products, services, and relationships. AHS expects to complete the asset
purchase during the third quarter of this year. AHS agreed to acquire
substantially all of the assets of RxCentric for $4.5 million in cash and
assumed liabilities. RxCentric has the ability to earn up to $1.8 million in
additional consideration if certain performance targets are met during the
year following the close.
About RxCentric Inc.
RxCentric Inc. ( www.rxcentric.com ) is a leading provider of technology-
enabled sales and marketing solutions for the life sciences industry providing
customized and targeted online product marketing capability that extends the
reach and frequency of existing offline marketing and sales activities.
RxCentric works with life sciences clients in North America and Europe, and
has an international venture with Zestica, a Europe-based life sciences
strategic consulting firm. RxCentric Inc. is a privately held company
headquartered in New York.
About Physicians Interactive
Physicians Interactive is the market leader in interactive solutions that
connect pharmaceutical companies with physicians. With the PI e-Detailing
solution, PI uses interactive programmed learning techniques along with
sequential messaging to ensure comprehension of consistent and substantive
product information. Physicians Interactive also markets PI Convention(TM), PI
OpinionLeader(TM) and PI Survey(TM) solutions. Each Physicians Interactive
solution leverages PI’s established physician relationships, broad experience,
and solid technology platform to deliver effective and physician-trusted
programs. Physicians Interactive is a business unit of Allscripts Healthcare
Solutions. Visit PI on the Web at www.e-detailing.com or call 1-800-794-6757.
About Allscripts Healthcare Solutions
Allscripts Healthcare Solutions is a leading provider of clinical software
and information solutions for physicians. The Company’s TouchWorks(TM)
software is a modular electronic medical record that enhances physician
productivity using a Tablet PC, wireless handheld device, or desktop
workstation to automate the most common physician activities including
prescribing, dictating, capturing charges, ordering labs and viewing results,
providing patient education, and documenting clinical encounters.
Additionally, AHS provides patient compliance and healthcare product education
services for physicians through its Physicians Interactive business and also
provides medication fulfillment services. AHS provides software and services
to over 20,000 physicians across the U.S.
Strategic partners include IDX Systems (Nasdaq: IDXC); IMS Health
(NYSE: RX); Microsoft (Nasdaq: MSFT); Hewlett-Packard Company; and Medco
Physicians Interactive, PI e-Detailing, PI Convention, PI OpinionLeader,
PI Survey, and TouchWorks are trademarks of Allscripts Healthcare Solutions.
Visit AHS on the Web at www.allscripts.com .
This announcement may contain forward-looking statements about Allscripts
Healthcare Solutions that involve risks and uncertainties. These statements
are developed by combining currently available information with Allscripts
beliefs and assumptions. Forward-looking statements do not guarantee future
performance. Because Allscripts cannot predict all of the risks and
uncertainties that may affect it, or control the ones it does predict,
Allscripts’ actual results may be materially different from the results
expressed in its forward-looking statements. For a more complete discussion of
the risks, uncertainties and assumptions that may affect Allscripts see the
Company’s 2002 Annual Report on Form 10-K, available through the Web site
maintained by the Securities and Exchange Commission at www.sec.gov .
SOURCE Allscripts Healthcare Solutions, Inc.
Bill Davis, Chief Financial Officer, +1-847-680-3515, Ext. 282, firstname.lastname@example.org , or Dan Michelson, Vice President of Marketing, +1-847-680-3515, Ext. 4330, email@example.com , both of Allscripts Healthcare Solutions, Inc.