Allscripts To Acquire Practice Fusion For $100 Mln In Cash - Quick Facts

(RTTNews) - Allscripts Healthcare Solutions Inc. (MDRX), a provider of healthcare information technology solutions, said it has agreed to acquire privately-held Practice Fusion for $100 million in cash, subject to adjustment for working capital and net debt.

San Francisco-based Practice Fusion is a Silicon Valley pioneer in partnering with top-tier life sciences organizations to drive innovation.

This transaction is targeted to close in the first quarter of calendar 2018. Allscripts intends to fund the purchase price through its existing secured credit facilities and cash balances.

In combination with Allscripts existing payer and life sciences business, the company expects to expand its big data insights and analytics, data sharing technologies, and clinical trial solutions to enable life sciences organizations to accelerate bringing life-changing therapies to market.

Allscripts noted that Practice Fusion offers an affordable certified cloud-based EHR for traditionally hard-to-reach small, independent physician practices. Practice Fusion, founded in 2005, supports 30,000 ambulatory practices and 5 million patient visits a month.

Allscripts expects the acquisition to further advance its strategy to offer the most comprehensive, high performing health information technology and solutions. According to the company, Practice Fusion's EHR will complement and round out Allscripts' existing ambulatory clinical portfolio.