CHICAGO, Sept. 16 /PRNewswire-FirstCall/ — Allscripts Healthcare
Solutions, Inc. (“Allscripts”) (Nasdaq: MDRX), the leading provider of
clinical software, connectivity and information solutions that physicians use
to improve healthcare, announced today that Misys plc (“Misys”) has issued a
press release regarding recent events at Lehman Brothers. In connection with
the proposed transactions contemplated by an Agreement and Plan of Merger
dated as of March 17, 2008 by and among Allscripts, Misys, Misys Healthcare
Systems, LLC (“MHS”) and Patriot Merger Company, LLC (the “Merger Agreement”),
Lehman Brothers committed to a $305 million term and revolving credit facility
agreement dated March 19, 2008 (as amended and restated on July 22, 2008) with
Misys in order to fund a portion of the $330 million payment by Misys to
Allscripts contemplated by the Merger Agreement.
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Misys has stated that it has been unable to confirm whether Lehman
Brothers will be able to fulfill its role under this facility and has
therefore commenced the process of identifying other funding alternatives and
is in discussions with several other debt providers. The consummation of the
transactions contemplated by the Merger Agreement is not subject to a
financing condition.
Given the circumstances, Allscripts intends to adjourn its 2008 annual
meeting of stockholders scheduled for Monday, September 22, 2008 to October 6,
2008, the same date to which Misys has determined to adjourn its extraordinary
general meeting. Allscripts continues to support the transactions
contemplated by the Merger Agreement, and is working together with Misys to
bring the transactions to a successful conclusion. Glen Tullman, Chief
Executive Officer of Allscripts, added, “While the events surrounding Lehman
Brothers are unfortunate, we nevertheless remain excited about the
transactions with Misys and believe they are in the best interests of our
stockholders and clients.”
About Allscripts
Allscripts (Nasdaq: MDRX) is the leading provider of clinical software,
connectivity and information solutions that physicians use to improve
healthcare. The company’s unique solutions inform, connect and transform
healthcare, delivering improved care at lower cost. More than 40,000
physicians and thousands of other healthcare professionals in clinics,
hospitals and extended care facilities nationwide utilize Allscripts to
automate everyday tasks such as writing prescriptions, documenting patient
care, managing billing and scheduling, and safely discharging patients, as
well as to connect with key information and stakeholders in the healthcare
system. To learn more, visit Allscripts at https://www.allscripts.com.
Forward-Looking Statements
This communication contains forward-looking statements. Those
forward-looking statements include all statements other than those made solely
with respect to historical fact. Forward-looking statements may be identified
by words such as “believes”, “expects”, “anticipates”, “estimates”,
“projects”, “intends”, “should”, “seeks”, “future”, continue”, or the negative
of such terms, or other comparable terminology. Such statements include, but
are not limited to, statements about the expected benefits of the transaction
involving Allscripts, Misys Healthcare Systems, LLC (“MHS”) and Misys plc
(“Misys”), including potential synergies and cost savings, future financial
and operating results, and the combined company’s plans and objectives. In
addition, statements made in this communication about anticipated financial
results, future operational improvements and results or conditions and
approvals are also forward-looking statements. Such forward-looking
statements are subject to numerous risks, uncertainties, assumptions and other
factors that are difficult to predict and that could cause actual results to
vary materially from those expressed in or indicated by them. Such factors
may include, but are not limited to: (1) the occurrence of any event,
development, change or other circumstances that could give rise to the
termination of the merger agreement; (2) the outcome of any legal proceedings
that have been or may be instituted against Allscripts, Misys or MHS and
others following announcement of entering into the merger agreement; (3) the
inability to complete the proposed transaction due to the failure to obtain
stockholder or shareholder approval or the failure of any party to satisfy
other conditions to completion of the proposed transaction; (4) risks that the
proposed transaction disrupts current plans and operations and potential
difficulties in employee retention as a result of the merger; (5) the ability
to recognize the benefits of the merger; (6) legislative, regulatory and
economic developments; and (7) other factors described in filings with the
Securities and Exchange Commission. Many of the factors that will determine
the outcome of the subject matter of this communication are beyond
Allscripts’, Misys’ and MHS’ ability to control or predict. Allscripts can
give no assurance that any of the transactions related to the merger will be
completed or that the 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.
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 Healthcare
Solutions, Inc.