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Allscripts to acquire Practice Fusion business
Practice Fusion is a
This strategic acquisition is expected to further advance Allscripts' strategy to offer the most comprehensive, high performing health information technology and solutions. Practice Fusion's EHR will complement and round out Allscripts existing ambulatory clinical portfolio, providing a value offering and "last mile" reach to the under-served clinicians in small and individual practices.
"By adding Practice Fusion offerings to our portfolio, Allscripts will be further positioned for continued growth and long-term leadership in healthcare," said Allscripts President
Poulton continued, "We believe this transaction will directly benefit Practice Fusion clients, who will now have access to Allscripts solutions and services. We look forward to welcoming Practice Fusion team members to our family. Allscripts highest priority remains to successfully meet healthcare providers' highly complex needs as we enable them to lead the change to smarter care."
This transaction is targeted to close in the first quarter of calendar 2018, subject to the satisfaction of customary closing conditions, including the expiration or termination of the waiting period under U.S. antitrust laws.
Allscripts intends to fund the purchase price through its existing secured credit facilities and cash balances.
Additional details of the acquisition are available in a Form 8-K to be filed by Allscripts with the
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This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical fact or pattern. Forward-looking statements can also be identified by the use of words such as "future," "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "will," "would," "could," "can," "may," and similar terms. Forward-looking statements are not guarantees of future performance. Actual results could differ significantly from those set forth in the forward-looking statements, and reported results should not be considered an indication of future performance. Certain factors that could cause our actual results to differ materially from those described in the forward-looking statements include, but are not limited to: the timing or ultimate completion of the acquisition of Practice Fusion, as the transaction is subject to certain closing conditions, including the expiration or termination of the waiting period under U.S. antitrust laws; the possibility that expected benefits may not materialize as expected; the expected financial contribution and results of the Practice Fusion business; the successful integration of the Practice Fusion business; and the anticipated and unanticipated expenses and liabilities related to the acquisition and the acquired Practice Fusion business. Additional information about these and other risks, uncertainties, and factors affecting Allscripts business is contained in Allscripts filings with the
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