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Harris Operating Group of Constellation Software Acquires Allscripts Hospitals and Large Physician Practices Business Segment, The Canadian Business Journal

Toronto, March 2, 2022 (GLOBE NEWSWIRE) — Constellation Software Inc. (“Constellation”) (TSX: CSU) today announced the completion of its wholly owned subsidiary N. Harris Computer Corporation (“Harris”). The agreement with Allscripts Healthcare Solutions (“Allscripts”) (NASDAQ: MDRX) will acquire the net worth of the Allscripts’ Hospitals and Large Physician Practices business segment.Hospital and large physician medical care business segments include Sunrise ™ and Paragon®Allscripts TouchWorks®Allscripts® Opal and dbMotion ™ solutions. The assets of the Allscripts Veradigm business segment are not included in this transaction and will continue to be owned by Allscripts.

“We have been monitoring and admiring hospital and large physician franchises for years,” said Jeff Bender, CEO of Harris. “We believe it is the perfect eternal home for many talented employees and loyal customers who are the backbone of the franchise. We begin the next chapter in Harris’s story and we We look forward to continuing to serve those who serve us in the communities in which we live and working with healthcare professionals to provide life-improving care. “

Jerry Canada, President of the Harris Group of Healthcare, said: Harris is excited to welcome the staff and customers who have helped Allscripts succeed in the medical field of hospitals and large physicians. We believe that employees and customers in both organizations will benefit from the potential created by this eternal relationship. I was personally fortunate to be involved with the leadership team during this process. I look forward to exploring and realizing our potential together. “

“The healthcare industry we faithfully serve is undergoing major changes, and the needs of our customers in different business segments continue to evolve in different ways. Paul M, CEO of Allscripts. Black believes this transaction will maximize the focus and future opportunities of its clients, more than 7,500 employees and shareholders. “Harris is a world of software development, customer satisfaction and healthcare. We have demonstrated excellence in our growth. We are pleased that our solutions will be an important strategic element of Harris’s plan to become a leader in digital health. At the heart of our Harris portfolio, our customers are truly We are proud to continue to benefit from our health platform. “

The purchase price is up to US $ 700 million in cash, with a fixed price of $ 670 million paid at the time of closing and a conditional consideration of up to $ 30 million based on the business performance for the two years after the transaction is completed. It will be configured. Completion of a transaction must be subject to regulatory approval and normal closing conditions. The transaction is expected to close during the second quarter of 2022. Total revenue for Allscripts’ Hospitals and Large Physician Practices for the period ended December 31, 2021 was US $ 928 million. Constellation expects to fund the acquisition of Allscripts standalone.

About Harris Operating Group
Harris provides mission-critical software solutions for the public, medical, utility and private sectors in North America, Europe, Asia and Australia. Harris focuses on building long-term relationships with customers and ensuring that they meet the changing needs of their customers over time. More information on Harris is available on our website at www.harriscomputer.com.

Constellation Software Inc.about
The common stock of the constellation is listed on the Toronto Stock Exchange under the “CSU” symbol. Constellation acquires, manages and builds vertical market software business.

About Allscripts
Allscripts (NASDAQ: MDRX) is a leader in medical information technology solutions that improve clinical, financial and operational results. Our innovative solution connects people, locations and data across Open, Connected Community of Health ™. Connectivity allows caregivers to make better decisions and provide better care to healthier people. For more information, please visit www.allscripts.com.twitterYouTube and it takes the community: Allscripts blog.

For more information, please contact:
Constellation Software Inc.
Chief Financial Officer, Jamal Baksh
Tel: (416) 861-9677
jbaksh@csisoftware.com
www.csisoftware.com

Allscripts Healthcare Solutions, Inc.
Investor:
Jenny Jerinas
312-506-1237
Jenny.Gelinas@allscripts.com
media:
Tom Lynch
312-386-6765
tom.lynch@allscripts.com


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Harris Operating Group of Constellation Software Acquires Allscripts Hospitals and Large Physician Practices Business Segment, The Canadian Business Journal

Source link Harris Operating Group of Constellation Software Acquires Allscripts Hospitals and Large Physician Practices Business Segment, The Canadian Business Journal

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