In a deal that strongly suggests that the exploding HIT market has some limits, Allscripts and Misys Healthcare have announced a merger. The deal follows years of turmoil for Misys, which allegedly had been on the market for years and had seen considerable management turnover. The new entity will affect an estimated 150,000 plus physicians and 700 hospitals. The deal should offer each side complimentary technical expertise and products, with Allscripts bringing clinical software, connectivity and information solutions for physicians, while Misys focuses on software for physician offices.
Under the terms of the transaction, British-based Misys PLC gets a 54.5 percent stake in the combined company, which will fold Raleigh, NC-based Misys Healthcare into a wholly-owned subsidiary of Allscripts. Misys PLC will contribute $330 million in cash to Allscripts in pay for the shares. Allscripts, for its part, will pay out a special cash dividend of $330 million, or about $4.90 per share, to Allscripts stockholders who possessed stock as of the last business day immediately before the deal closed.
To learn more about the deal:
- read this Healthcare IT News piece
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