Company to Announce Fiscal Third Quarter Results on April 2, 2009
CHICAGO, March 9 /PRNewswire-FirstCall/ — Allscripts-Misys Healthcare
Solutions, Inc. (“Allscripts”) announced today that it has signed a definitive
agreement to sell its Medication Services business to A-S Medication Solutions
(“A-S Medications”).
(Logo: http://www.newscom.com/cgi-bin/prnh/20081013/AQM041LOGO)
The transaction, which is anticipated to generate total consideration for
Allscripts of $26 million including income from a joint marketing agreement,
is expected to close in the company’s fiscal fourth quarter, subject to
customary closing conditions.
The Allscripts Medication Services business provides point-of-care
medication management and medical supply services and solutions for physicians
and other healthcare providers.
Under terms of the agreements, Allscripts will receive $8 million in the
fourth quarter, and $3.6 million per year for the next five years in return
for providing sales and marketing services to A-S Medications. Allscripts
will continue to offer medication services to its existing and future clients
during that time, and is entitled to receive commissions on new sales
generated under the marketing relationship.
The transaction will allow Allscripts to increase the focus on its core
business of providing clinical software, connectivity and information
solutions to the 160,000 physicians, more than 700 hospitals, and over 7,000
extended care facilities the company serves.
“The sale of our medications business is an important step that will
enable Allscripts to concentrate our resources at a time when electronic
health records and electronic prescribing have received a substantial boost
from the economic stimulus law signed last month by President Obama,” said
Glen Tullman, Chief Executive Officer of Allscripts. “It also will provide our
former medication service clients with a new partner who is committed to
ensuring their continuing success. We look forward to the ongoing strategic
relationship with A-S Medications, which we think offers our customers great
promise in continuing to deliver a full suite of offerings.”
Company Earnings Call Scheduled for April 2, 2009
Allscripts management will share more information on the sale of the
Allscripts Medication Services business on April 2, 2009 during the company’s
fiscal third-quarter earnings call. Allscripts management will host the
conference call and webcast to discuss the company’s earnings and other
information at 4:30 PM Eastern Daylight Time on April 2nd following release of
Allscripts financial results for the three and nine months ended February 28,
2009.
The earnings announcement will be distributed via PR Newswire immediately
after the market closes on the afternoon of April 2nd. The press release also
will be available on the company’s website at www.allscripts.com.
To listen to the conference call broadcast, participants may log onto
www.allscripts.com. It is recommended that participants log onto the website
approximately 15 minutes prior to the start of the conference call to download
and install any necessary software. The conference call also can be accessed
by dialing (800) 374-1376 and requesting the Allscripts earnings call.
International callers can access the audio portion of the webcast by dialing
(706) 679-4010 and requesting the Allscripts Investor Presentation. A
Microsoft Windows Media Player web replay will be available three hours after
the conclusion of the call for a period of two weeks at www.allscripts.com or
by calling (800) 642-1687 – or (706) 645-9291 for international callers – ID #
88991513.
(Minimum requirements to listen to the broadcast are: Microsoft Windows
Media Player software, downloadable free from
http://windowsmedia.com/download/download.asp, an Internet connection, and
speakers or earphones).
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.
– 03/09/2009
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,
both of Allscripts-Misys Healthcare Solutions, Inc.
(MDRX)