Company Name: Allscripts Healthcare Solutions, Inc.
Stock Market: NASDAQ (MDRX)
Industry Sector: Services-Computer Integrated Systems Design
Yearly Revenue: $ 281.9 million (as of December 2007)
Operating Income: $ 28.1 million (as of December 2007)
Net Income: $ 20.6 million (as of December 2007)
Total Assets: $ 578.1 million (as of December 2007)
Key People: Glen E. Tullman (Chairman, Chief Executive Officer, and Director [Principal Executive Officer]), Lee A. Shapiro (President), William J. (Bill) Davis [Chief Financial Officer (Principal Financial and Accounting Officer])
Headquarters Address: 222 Merchandise Mart Plaza, Suite 2024
Chicago , IL 60654
Number of Employees: 1,155 full-time (as of December 31, 2007)
Website Address: www.allscripts.com
Company Overview
Allscripts Healthcare Solutions, Inc. (referred herein as “Allscripts”), is the current leader and the foremost supplier of services, clinical software, information and various connectivity solutions that empower healthcare providers and physicians to deliver excellent patient safety, required financial results, and desired clinical outcomes. No less than 150,000 physicians, over 700 hospitals and several thousands of healthcare providers based in post-acute care facilities, clinics, treatment centres, and homecare groups nationwide make use of the Allscripts solutions in order to link up and automate their clinical and daily business operations. The company also offers prescription-management services and software that allow doctors to retrieve prescription information via computer networks and equipment such as wireless or desktop handheld devices that provide doctors access to drug interactions, patient drug history, and generic alternatives. Other services include physician feedback services and electronic document scanning and imaging. Together with the company’s clients, the company is changing the detached ‘healthcare’ system into an attached system of ‘health.’
With its headquarters in Chicago, Allscripts employs roughly 2,500 workers based in more than 20 locations all over the United States. In 2008, Allscripts combined with Misys Healthcare, a division of Misys, to produce the Allscripts-Misys Healthcare Solutions.
The company’s four business groups composed of professional solutions, enterprise solutions, health systems group, and medication services mainly focus on providing effective, practical and innovative solutions to stakeholders in the field of healthcare.
Current Financial Overview
The company acquired Extended Care Information Network, Inc. (“ECIN”) on December 31, 2007. This is a privately held organization and a leading provider of discharge planning software and hospital care management. This acquisition unified two (2) industry organizers of care management, and enabled Allscripts to attach an additional key section of the healthcare delivery system: the exchange of patients’ information between physicians outside the hospital, hospital case managers, and an increasing quantity of post-acute care amenities and facilities nationwide.
On March 2, 2006, Allscripts Healthcare Solutions, Inc. finally finished its acquisition of the company named A4 Health Systems, Inc. (“A4”). Allscripts acquired the entire equity interests of A4 for 3,500 shares of its common stock and an aggregate consideration of $215,000 in full cash. An additional payment was made by the company to A4 shareholders, amounting to about $12,730, in respect of A4’s amount of working capital at finishing. This acquisition resulted to $79,110 of intangible assets and $174,501 of goodwill of the company.
On August 1, 2003, Allscripts also acquired 100 percent (%) of the excellent common stock of Advanced Imaging Concepts, Inc.
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