CHICAGO and ATLANTA, June 9
/PRNewswire-FirstCall/ -- Allscripts (Nasdaq: MDRX), the leading
provider of clinical software, information and connectivity
solutions for physicians, and Eclipsys (Nasdaq: ECLP), a leading
enterprise provider of solutions and services for hospitals and
clinicians, today announced a definitive agreement to merge in an
all-stock transaction valued at approximately $1.3 billion. The combination of Allscripts and
Eclipsys will create a clear leader in healthcare information
technology, with the most comprehensive solution offering for
healthcare organizations of every size and setting. Under terms of
the merger agreement, Eclipsys stockholders will receive 1.2 shares
of Allscripts for each share of Eclipsys, a 19 percent premium
based on the June 8th closing
price.
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By combining the leading physician-office and post-acute care
solutions from Allscripts with Eclipsys's leading enterprise
solutions for hospitals and health systems, the combined company
will offer a single platform of clinical, financial, connectivity
and information solutions. The combined company's client base will
include over 180,000 U.S. physicians, 1,500 hospitals, and nearly
10,000 nursing homes, hospices, home care and other post-acute
organizations. The combined company will be positioned to connect
physicians, other care providers and patients wherever care is
provided – in the hospital, in small or large physician practices,
in extended care facilities, or in a patient's home – resulting in
the unique ability to deliver a single patient record and a
seamless patient experience.
Glen Tullman, Chief Executive
Officer of Allscripts, will be the Chief Executive Officer of the
combined company. Phil Pead, President and Chief Executive
Officer of Eclipsys will become Chairman of the combined company
and, on a full-time basis, will focus on key client and strategic
relationships, product and process integration, strategy and the
company's international business. Bill Davis, Chief Financial
Officer of Allscripts, will be the company's Chief Financial
Officer. Chris
Perkins, Chief Financial Officer of Eclipsys, will lead the
integration process of the two companies. The balance of the
combined company's executive team will include the current officers
of both Allscripts and Eclipsys.
One Company Best Positioned to Drive Transformation
"We are at the beginning of what we believe will be the single
fastest transformation of any industry in US history, and the
combination of the Allscripts Electronic Health Record portfolio in
the physician office and leadership in the post-acute care market,
with Eclipsys's market-leading hospital enterprise solution creates
the one company uniquely positioned to execute on this significant
opportunity," said Mr. Tullman.
The merger positions the combined company to help its clients
more effectively access the approximately $30 billion in federal funding for hospital and
physician adoption of Electronic Health Records (EHR) provided by
the American Recovery and Reinvestment Act (ARRA). Driven in large
part by the ARRA incentives, which begin in 2011, EHR adoption by
physician practices is projected to grow from 12 percent to 90
percent by 2019, according to the Congressional Budget Office's
(CBO) March 2009 report, "Options for
Controlling the Cost and Increasing the Efficiency of Health Care."
The CBO report also projects hospital adoption of acute-care
EHRs will increase from 11 percent to 70 percent during the same
time period.
Mr. Tullman continued, "Our vision and the vision behind ARRA is
to leverage information technology to create collaboration between
providers in all care settings, helping to improve the quality and
lower the cost of care. The merger of Allscripts and Eclipsys
creates one company with the scale, breadth of applications and
client footprint to bring that vision to life by connecting
providers in hospitals, physician practices and post-acute
organizations across the country."
Growth in Electronic Health Record adoption has been accelerated
by hospitals and health systems offering to support and subsidize
the technology for affiliated physicians, under the Stark Law safe
harbor. For example, North Shore Long Island Jewish Health System
recently announced it would subsidize up to 85 percent of the cost
of implementing the Allscripts Electronic Health Record for over
7,000 affiliated physicians in New York
City and Long Island.
North Shore-LIJ's hospitals currently utilize the Eclipsys
Sunrise Enterprise suite of solutions as well as the Allscripts
Emergency Department and Care Management solutions.
Mr. Tullman continued, "Many health systems are following North
Shore-LIJ's example, providing electronic health records to their
affiliated physicians. The combination of Allscripts and Eclipsys
creates a 'hub' of large and well respected hospitals that will
accelerate connection to 50,000 practices using Allscripts
solutions, the largest base of physician users of any healthcare IT
company. By leveraging our collective footprint, industry-leading
products and strong focus on interoperability, the combined company
will facilitate better communication between hospitals and
physicians and create a new model and a new way of thinking about
health based on information and connectivity."
One Company to Deliver a Single Patient Record
"Both Eclipsys and Allscripts share a vision of a connected
system of health in which critical information follows the patient
and informs all providers that assist the patient across the
complete care continuum," said Mr. Pead. "This merger will
turn that vision into a reality. Healthcare isn't confined to the
four walls of any single location, yet traditional healthcare IT
companies deliver monolithic 'information silos' that fail to
connect to other systems. Our approach is to instead focus on
creating a single patient record connecting all applications used
within an organization and across a community."
The Eclipsys Sunrise Enterprise and Performance Management
solution for hospitals and the Allscripts industry-leading
portfolio of solutions for physician practices currently leverage
common platforms, including Microsoft.NET and other advanced
technologies. This will accelerate the delivery of an
integrated hospital and physician practice offering. The
companies also share an 'open architecture' approach, simplifying
the connection to third-party applications across every care
setting, resulting in a single patient record.
Additionally, the combination of Allscripts and Eclipsys
solutions, each known for having the highest physician utilization
in their respective markets, will establish a clear leader in
driving "meaningful use," the criteria that physicians and
hospitals must satisfy in order to qualify for federal funding
under ARRA.
Pead continued, "The combined company will be unique among
healthcare IT companies not only in our ability to drive
utilization, but also in our ability to quickly integrate our
solutions and connect clinical information across every link in the
healthcare chain. In combination with our powerful analytics
and revenue cycle solutions, healthcare organizations will finally
be able to realize the true promise of information technology,
improving both clinical and financial outcomes across the entire
community of care."
Transaction Highlights
The merger agreement has been approved by the Board of Directors
of both Allscripts and Eclipsys. The Board of Directors of
the combined company will initially consist of a combination of the
current directors of Allscripts and Eclipsys.
The merger will be subject to stockholder approvals from both
Allscripts and Eclipsys, and other customary closing conditions and
regulatory approvals, including expiration or termination of any
applicable waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976, as amended.
In addition, the transaction is subject to the completion of a
secondary offering of Allscripts shares owned by Misys plc (LSE:
MSY) (Misys), currently the majority stockholder of Allscripts, and
the completion of the Allscripts buyback from Misys of additional
Allscripts shares owned by Misys, which will substantially reduce
Misys's share ownership of Allscripts prior to the closing of the
merger. The companies expect the merger to close in
approximately four to six months. The combined company will
have more than 5,500 employees.
Misys has entered into a voting agreement with Allscripts and
Eclipsys pursuant to which Misys has agreed to vote certain of its
Allscripts shares at the Allscripts stockholder meeting in favor of
the issuance of Allscripts shares to Eclipsys stockholders in
connection with the merger. These shares will total
approximately 15.5 million, the total number of shares Misys is
expected to hold after the buyback and secondary offering. Certain
directors of Allscripts and Eclipsys have also entered into voting
agreements pursuant to which they have agreed to vote their shares
at their respective company stockholder meetings in favor of the
merger.
The transaction is expected to be accretive to Allscripts
Non-GAAP earnings beginning in calendar 2011. Allscripts
anticipates over $100 million in cost
savings over the first three full fiscal years after completion of
the transaction.
UBS, Barclays Capital and J.P. Morgan acted as financial
advisors to Allscripts on the merger, and Blackstone and William
Blair acted as financial advisors to the Audit Committee of
Allscripts. Perella Weinberg Partners acted as financial advisor to
Eclipsys. Credit Suisse acted as financial advisor to Misys.
Sidley Austin LLP and Vedder, Price, Kaufman and Kammholz acted
as legal advisors to Allscripts on the merger. King &
Spalding LLP acted as legal advisor to Eclipsys. Allen & Overy
acted as legal advisor to Misys.
Highlights of Secondary Offering and Share Buyback of
Allscripts Shares owned by Misys
In connection with the merger, Allscripts will facilitate a
reduction of Misys's equity stake in Allscripts from approximately
55% to approximately 10% through an underwritten secondary equity
offering and share buyback. This reduction in equity stake will
enable Misys to maintain compliance with listing requirements of
the United Kingdom listing
authorities.
Misys will sell to the public in the secondary offering a
minimum of approximately 36 million of its Allscripts shares.
Additionally, Allscripts will buy back from Misys, concurrent with
the closing of the secondary offering, approximately 24.4 million
of its Allscripts shares at a price of $18.82 per share, or $460
million in total, plus a payment of a premium of
$117.4 million in connection with the
sale by Misys of its controlling interest, for a total of
$577.4 million.
The secondary offering and share buyback transactions will be
subject to Misys shareholder approval, and will be subject to other
conditions precedent, including: (i) Misys obtaining a price per
share in the secondary offering of no less than $16.50; and (ii) Allscripts obtaining debt
financing sufficient to complete the share buyback. The closing of
the financing for the share buyback is subject to execution of
definitive loan documentation, compliance by Allscripts with
financial covenants (on a historical and pro forma basis) and other
closing conditions.
Allscripts has secured financing commitments from JP Morgan,
Barclays Capital and UBS for a total of $720
million in senior secured credit facilities, which includes
a six-year $570 million term loan
facility and a five-year $150 million
revolving credit facility, to finance the share buy-back and to
provide access to additional working capital for its operations.
Misys and Allscripts expect to complete the secondary offering and
the share buyback in the next four to six months.
After the closing of the merger, Misys will have a right to
require Allscripts to repurchase an additional 5.3 million
Allscripts shares for $100 million at
a price of $18.82 per share, and an
additional $1.6 million premium, all
of which will be funded through cash reserves of the combined
company. Misys must elect to exercise its right to require
Allscripts to repurchase these shares within 10 days after closing
of the merger. If it does exercise the buy-back option,
Misys's equity stake in the combined company is expected to be
approximately 8% and Eclipsys's stockholders will own approximately
37% of the combined company.
Allscripts Exceeds Bookings Guidance for the Fourth Quarter
of Fiscal 2010; Affirms High-End of Revenue and Earnings Guidance
for Fiscal Year
For the fourth quarter of fiscal 2010, Allscripts now expects
bookings to be approximately $117
million. Previously, Allscripts anticipated fourth
quarter 2010 bookings to range from $105-$112 million.
For fiscal 2010, the company expects to be at the high-end of
the previously communicated ranges: revenue of $700-$705 million; net income of $67.0-$68.5 million; and diluted earnings per
share of $0.44-$0.45. On a
non-GAAP basis, the company expects to be at the high-end of the
previously communicated ranges: non-GAAP net income of $97.0-$98.5 million; and non-GAAP diluted
earnings per share of $0.64-$0.65
cents.
Allscripts non-GAAP net income guidance assumes the following
standard adjustments from GAAP net income: approximately
$22.6 million of annual
acquisition-related amortization; $16.5
million in stock-based compensation expense; $4.9 million in deferred revenue adjustments; and
approximately $11.0 million of
transaction-related expense; all on a pre-tax basis.
Allscripts 2010 non-GAAP net income and diluted earnings per
share guidance assumes a 39% tax rate.
After the close of the merger, Allscripts expects to report
financial results on a calendar year end.
Conference Call and Web Cast Information
Allscripts and Eclipsys will host a joint conference call and
webcast June 9, 2010 at 8:00 a.m. EDT to discuss the transaction. The
call can be accessed three ways:
- Online: All interested parties are welcome to attend the live
webcast, which will be hosted through each company's respective
website: http://investor.allscripts.com and
http://investors.eclipsys.com. Please visit either web site to test
your connection before the call.
- By telephone: Investors and members of the media can also
access the conference call via a toll free number by dialing (877)
666-7021 in North America or (678)
809-1012 for international callers approximately 15 minutes prior
to the call. The access code for all callers is 78781403.
- Through an audio replay: A replay of the conference call will
be available on both companies' websites beginning three hours
after the call for a period of one month. The dial-in number for
U.S. participants is (800) 642-1687. For participants outside the
U.S., the replay dial-in number is (706) 645-9291. The replay
access code for all callers is 78781403.
Multi-Media Information
More information about the combined company is available at
www.OneAllscriptsEclipsys.com. Materials on the microsite
include:
- A video interview with Glen
Tullman, Chief Executive Officer of Allscripts, and
Phil Pead, Chief Executive Officer
of Eclipsys
- An FAQ explaining the details of the transaction
- A fact sheet providing details on the combined company
- Print and web-ready graphics
- Photos and biographies of Allscripts and Eclipsys
executives
Explanation of Non-GAAP Financial Measures
Allscripts reports its financial results in accordance with
generally accepted accounting principles, or GAAP. To supplement
this information, Allscripts presents in this press release
non-GAAP revenue, gross profit and net income, including non-GAAP
net income on a per share basis, which are non-GAAP financial
measures under Section 101 of Regulation G under the Securities
Exchange Act of 1934, as amended. Non-GAAP revenue consists of GAAP
revenue as reported and legacy Allscripts revenue for periods prior
to the consummation date of the Merger and adds back the
acquisition related deferred revenue adjustment booked for GAAP
purposes and excludes revenue from prepackaged medications.
Non-GAAP gross profit consists of GAAP gross profit as
reported and legacy Allscripts gross profit for periods prior to
the consummation date of the Merger and adds back the acquisition
related deferred revenue adjustment booked for GAAP purposes and
excludes revenue from prepackaged medications. Non-GAAP net
income consists of GAAP net income as reported and includes legacy
Allscripts net income for periods prior to the consummation date of
the Merger, excludes acquisition-related amortization, stock-based
compensation expense and transaction-related expenses, adds back
the acquisition related deferred revenue adjustment and excludes
net income from prepackaged medications, in each case net of any
related tax effects.
- Acquisition-Related Amortization. Acquisition-related
amortization expense is a non-cash expense arising from the
acquisition of intangible assets in connection with acquisitions or
investments. Allscripts excludes acquisition-related amortization
expense from non-GAAP net income because it believes (i) the amount
of such expenses in any specific period may not directly correlate
to the underlying performance of Allscripts business operations and
(ii) such expenses can vary significantly between periods as a
result of new acquisitions and full amortization of previously
acquired intangible assets. Management believes that this
adjustment facilitates comparisons of the separate pre-merger
results of legacy Misys and legacy Allscripts to that of the
Company's post-merger results. Investors should note that the
use of these intangible assets contributed to revenue in the
periods presented and will contribute to future revenue generation
and should also note that such expense will recur in future
periods.
- Stock-Based Compensation Expense. Stock-based compensation
expense is a non-cash expense arising from the grant of stock
awards to employees. Allscripts excludes stock-based compensation
expense from non-GAAP net income because it believes (i) the amount
of such expenses in any specific period may not directly correlate
to the underlying performance of Allscripts business operations and
(ii) such expenses can vary significantly between periods as a
result of the timing of grants of new stock-based awards, including
grants in connection with acquisitions. Investors should note that
stock-based compensation is a key incentive offered to employees
whose efforts contributed to the operating results in the periods
presented and are expected to contribute to operating results in
future periods and should also note that such expense will recur in
future periods.
- Transaction-Related Expenses. Transaction-related expenses are
fees and expenses, including legal, investment banking and
accounting fees, incurred in connection with announced
transactions. Allscripts excludes transaction-related expenses from
non-GAAP net income because it believes (i) the amount of such
expenses in any specific period may not directly correlate to the
underlying performance of Allscripts business operations and (ii)
such expenses can vary significantly between periods.
- Acquisition Related Deferred Revenue Adjustment. Deferred
revenue adjustment reflects the fair value adjustment to deferred
revenues acquired in connection with the Merger. The fair value of
deferred revenue represents an amount equivalent to the estimated
cost plus an appropriate profit margin, to perform services related
to legacy Allscripts software and product support, which assumes a
legal obligation to do so, based on the deferred revenue balances
as of October 10, 2008. Allscripts
adds back this deferred revenue adjustment for non-GAAP revenue and
non-GAAP net income because it believes the inclusion of this
amount directly correlates to the underlying performance of
Allscripts operations and facilitates comparisons of the separate
pre-merger results of legacy Misys and legacy Allscripts to that of
the Company's post-merger results.
- Tax Rate Alignment. Tax adjustment to align the current
fiscal quarter's effective tax rate to the expected annual
effective tax rate.
Management also believes that non-GAAP revenue, gross profit and
net income provide useful supplemental information to management
and investors regarding the underlying performance of the Company's
business operations and facilitates comparisons of the separate
pre-merger results of legacy Misys and legacy Allscripts to that of
the Company's post-merger results. Purchase accounting
adjustments made in accordance with GAAP can make it difficult to
make meaningful comparisons of the underlying operations of the
business without considering the non-GAAP adjustments that we have
provided and discussed herein. Management also uses this
information internally for forecasting and budgeting as it believes
that the measure is indicative of the Company's core operating
results. In addition, the Company uses Non-GAAP net income to
measure achievement under the Company's cash incentive compensation
plans. Note, however, that non-GAAP revenue, gross profit and
net income are performance measures only, and they do not provide
any measure of the Company's cash flow or liquidity. Non-GAAP
financial measures are not in accordance with, or an alternative
for, measures of financial performance prepared in accordance with
GAAP and may be different from non-GAAP measures used by other
companies. Non-GAAP measures have limitations in that they do not
reflect all of the amounts associated with Allscripts' results of
operations as determined in accordance with GAAP. Investors and
potential investors are encouraged to review the reconciliation of
non-GAAP financial measures with GAAP financial measures contained
within the attached condensed consolidated financial
statements.
About Allscripts
Allscripts uses innovation technology to bring health to
healthcare. More than 160,000 physicians, 800 hospitals and nearly
10,000 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
records, electronic prescribing, revenue cycle management, practice
management, document management, 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.
About Eclipsys
Eclipsys is a leading provider of advanced integrated clinical,
revenue cycle and performance management software, clinical content
and professional services that help healthcare organizations
improve clinical, financial and operational outcomes. For more
information, see www.eclipsys.com.
Important Information for Investors and Stockholders
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of
any vote or approval. This communication is being made in
respect of the proposed merger transaction involving
Allscripts-Misys Healthcare Solutions, Inc. ("Allscripts") and
Eclipsys Corporation ("Eclipsys"). In connection with the proposed
transaction, Allscripts will file with the SEC a registration
statement on Form S-4 and Allscripts and Eclipsys will mail a joint
proxy statement/prospectus/information statement to their
respective stockholders. BEFORE MAKING ANY VOTING OR
INVESTMENT DECISION, INVESTORS AND STOCKHOLDERS ARE URGED TO READ
CAREFULLY IN THEIR ENTIRETY THE JOINT PROXY
STATEMENT/PROSPECTUS/INFORMATION STATEMENT REGARDING THE PROPOSED
TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS FILED BY ALLSCRIPTS OR
ECLIPSYS WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL
CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.
The final joint proxy statement/prospectus/information
statement will be mailed to Allscripts' and Eclipsys' stockholders.
Investors and stockholders of Allscripts and Eclipsys will be
able to obtain a free copy of the joint proxy
statement/prospectus/information statement, as well as other
filings containing information about Allscripts and Eclipsys,
without charge, at the website maintained by the SEC
(http://www.sec.gov). Copies of the joint proxy
statement/prospectus/information statement and the filings with the
SEC that will be incorporated by reference in the joint proxy
statement/prospectus/information statement can also be obtained,
without charge, on the investor relations portion of Allscripts'
website (www.allscripts.com) or the investor relations portion of
Eclipsys' website (www.eclipsys.com) or by directing a request to
Allscripts' Investor Relations Department at 222 Merchandise Mart
Plaza, Suite 2024, Chicago, IL
60654, or 312-506-1213, or to Eclipsys' Investor Relations
Department at Three Ravinia Drive, Atlanta, GA, 30346, or 404-847-5965.
Allscripts and its directors and executive officers and other
persons may be deemed to be participants in the solicitation of
proxies in respect of the proposed transaction. Information
regarding Allscripts' directors and executive officers is available
in Allscripts' proxy statement for its 2009 annual meeting of
stockholders and Allscripts' Annual Report on Form 10-K for the
year ended May 31, 2009, which were
filed with the SEC on August 27, 2009
and July 30, 2009, respectively.
Eclipsys' and its directors and executive officers and other
persons may be deemed to be participants in the solicitation of
proxies in respect of the proposed transaction. Information
regarding Eclipsys' directors and executive officers is available
in Eclipsys' proxy statement for its 2010 annual meeting of
stockholders and Eclipsys' Annual Report on Form 10-K for the year
ended December 31, 2009, which were
filed with the SEC on March 26, 2010
and February 25, 2010, respectively.
Investors and stockholders can obtain free copies of these
documents from Allscripts and Eclipsys using the information above.
In addition, investors and stockholders can obtain more
detailed information regarding the direct and indirect interests of
Allscripts' and Eclipsys' directors and executive officers in the
proposed transaction by reading the joint proxy
statement/prospectus/information statement and other relevant
materials to be filed with the SEC when they become available.
Forward-Looking Statements
This communication contains forward-looking statements within
the meaning of the federal securities laws. Statements regarding
the benefits of the proposed transaction, including future
financial and operating results, the combined company's plans,
objectives, expectations and intentions, platform and product
integration, the connection and movement of data among hospitals,
physicians, patients and others, mergers synergies and cost
savings, client attainment of "meaningful use" and accessibility of
federal stimulus payments, enhanced competitiveness and accessing
new opportunities, market evolution, the benefits of the combined
companies' products and services, the availability of financing,
future events, developments, future performance, as well as
management's expectations, beliefs, intentions, plans, estimates or
projections relating to the future are forward-looking statements
within the meaning of these laws. These forward-looking statements
are subject to a number of risks and uncertainties, some of which
are outlined below. As a result, no assurances can be given that
any of the events anticipated by the forward-looking statements
will transpire or occur, or if any of them do so, what impact they
will have on the results of operations or financial condition of
Allscripts, Eclipsys or the combined company or the proposed
transaction.
Such risks, uncertainties and other factors include, among other
things: the ability to obtain governmental approvals of the merger
on the proposed terms and schedule contemplated by the parties; the
failure of Eclipsys' stockholders to approve the Merger Agreement;
the failure of Allscripts' stockholders to approve the issuance of
shares in the merger; the possibility that the proposed transaction
does not close, including due to the failure to satisfy the closing
conditions; the possibility that the expected synergies,
efficiencies and cost savings of the proposed transaction will not
be realized, or will not be realized within the expected time
period; potential difficulties or delays in achieving platform and
product integration and the connection of data among hospitals,
physicians, patients and others; the risk that the contemplated
financing is unavailable; the risk that the Allscripts and Eclipsys
businesses will not be integrated successfully; disruption from the
proposed transaction making it more difficult to maintain business
and operational relationships; competition within the industries in
which Allscripts and Eclipsys operate; failure to achieve
certification under the Health Information Technology for Economic
and Clinical Health Act could result in increased development
costs, a breach of some customer obligations and put Allscripts and
Eclipsys at a competitive disadvantage in the marketplace;
unexpected requirements to achieve interoperability certification
pursuant to the Certification Commission for Healthcare Information
Technology could result in increased development and other costs
for Allscripts and Eclipsys; the volume and timing of systems sales
and installations, the length of sales cycles and the installation
process and the possibility that Allscripts' and Eclipsys' products
will not achieve or sustain market acceptance; the timing, cost and
success or failure of new product and service introductions,
development and product upgrade releases; competitive pressures
including product offerings, pricing and promotional activities;
Allscripts' and Eclipsys' ability to establish and maintain
strategic relationships; undetected errors or similar problems in
Allscripts' and Eclipsys' software products; the outcome of any
legal proceeding that has been or may be instituted against
Allscripts, Misys plc or Eclipsys and others; compliance with
existing laws, regulations and industry initiatives and future
changes in laws or regulations in the healthcare industry,
including possible regulation of Allscripts' or Eclipsys' software
by the U.S. Food and Drug Administration; the possibility of
product-related liabilities; Allscripts' and Eclipsys' ability to
attract and retain qualified personnel; the implementation and
speed of acceptance of the electronic record provisions of the
American Recovery and Reinvestment Act of 2009; maintaining
Allscripts' and Eclipsys' intellectual property rights and
litigation involving intellectual property rights; risks related to
third-party suppliers and Allscripts' and Eclipsys' ability to
obtain, use or successfully integrate third-party licensed
technology; and breach of Allscripts' or Eclipsys' security by
third parties. See Allscripts' and Eclipsys' Annual Reports on Form
10-K and Annual Reports to Stockholders for the fiscal years ended
May 31, 2009 and December 31, 2009, respectively, and other public
filings with the SEC for a further discussion of these and other
risks and uncertainties applicable to their respective businesses.
The statements herein speak only as of their date and neither
Allscripts nor Eclipsys undertakes any duty to update any
forward-looking statement whether as a result of new information,
future events or changes in their respective expectations.
SOURCE Allscripts-Misys Healthcare Solutions, Inc.
