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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Allscripts Healthcare Solutions, Inc.    MDRX

ALLSCRIPTS HEALTHCARE SOLUTIONS, INC.

(MDRX)
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Allscripts : and Microsoft Extend Strategic Alliance to Transform Cloud-Based Health IT Solutions

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07/13/2020 | 08:07am EDT

Five-year extension will support Allscripts’ cloud-based Sunrise electronic health record and drive co-innovation

Today Allscripts (MDRX: NASDAQ) and Microsoft Corp. announced the extension of their long-standing strategic alliance to enable the expanded development and delivery of cloud-based health IT solutions. The five-year extension will support Allscripts’ cloud-based Sunrise™ electronic health record, making Microsoft the cloud provider for the solution and opening up co-innovation opportunities to help transform healthcare with smarter, more scalable technology. The alliance will enable Allscripts to harness the power of Microsoft’s platform and tools, including Microsoft Azure, Microsoft Teams and Power BI, creating a more seamless and highly productive user experience. Allscripts is an award-winning Microsoft partner with past recognitions including 2019 U.S. Healthcare Partner of the Year and 2017 Global Healthcare Partner of the Year (Public Sector), and most recently received Microsoft’s 2020 Health Innovation – Reimagine Healthcare award for its subsidiary 2bPrecise.

Sunrise is an integrated EHR that connects all aspects of care, including acute, ambulatory, surgical, pharmacy, radiology and laboratory services including an integrated revenue cycle and patient administration system. Sunrise is a clinician-friendly, evidence-based single platform with integrated analytics that helps deliver better health outcomes in hospitals around the world.

Cloud-based Sunrise will offer many added benefits beyond the on-premise version that will improve organizational effectiveness, solution interoperability, clinician ease of use and an improved patient experience. Client benefits include a subscription model delivering faster implementations and lower annual upgrade costs, helping organizations leverage the software without increasing burdens on their internal IT resources. The cloud-based Sunrise solution will provide enhanced security, scalability and flexibility, as well as the opportunity to add new capabilities quickly as business needs and the cloud evolve. The cloud-based solution will also include expanded analytics and insights functionality that can quickly engage with the Internet of Things. Finally, the cloud-based Sunrise solution will include a marketplace that enables healthcare apps and third parties to easily integrate with a hospital EHR. Allscripts clients will begin to see these updates by the end of 2020.

“The COVID-19 pandemic will forever change how healthcare is delivered, and provider organizations around the world must ensure they are powered by innovative, interoperable, comprehensive and lower-cost IT solutions that meet the demands of our new normal,” said Allscripts Chief Executive Officer Paul Black. “Healthcare delivery is no longer defined by location—providers need to have the capability to reach patients where they are to truly deliver the care they require. Cloud solutions, mobile options, telehealth functionality—these are the foundational tools for not just the future of healthcare, but the present. Collaborating with Microsoft, the leader in the public cloud sector, we will efficiently deliver the tools caregivers need to improve the clinical outcomes of their patients and operational performance of their organizations.”

“Through our strategic alliance with Allscripts, we aspire to be a transformational force in the healthcare industry, delivering smarter, innovative solutions that power the essential human connections of care delivery and create a healthier future for patients worldwide,” said Microsoft vice president of US Health and Life Sciences Patty Obermaier. “At Microsoft, we believe the future of healthcare is an interoperable one, where cloud-enabled solutions will be critical in putting patients fully in charge of their own healthcare information. With this collaboration, Allscripts is working to make that future a reality.”

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

About Microsoft

Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

© 2020 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Disclaimer

  • The information contained in this press release is for informational purposes only. Microsoft makes no warranties, express or implied, in this press release.
  • Nothing in this press release modifies any of the terms and conditions of Microsoft’s written and signed agreements. This is not an offer and applicable terms and the information provided is subject to revision and may be changed at any time by Microsoft.
  • This press release does not give you or your organization any license to any patents, trademarks, copyrights, or other intellectual property covering the subject matter.
  • All processes, tools and functionality described in this press release are proposed.
  • The information contained in this press release represents the current view of Microsoft on the issues discussed as of the date of the release. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information presented after the date of this release.


© Business Wire 2020
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Financials (USD)
Sales 2020 1 685 M - -
Net income 2020 -20,9 M - -
Net Debt 2020 741 M - -
P/E ratio 2020 -71,5x
Yield 2020 -
Capitalization 1 507 M 1 507 M -
EV / Sales 2020 1,33x
EV / Sales 2021 1,28x
Nbr of Employees 9 600
Free-Float 58,4%
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Mean consensus HOLD
Number of Analysts 21
Average target price 9,56 $
Last Close Price 9,25 $
Spread / Highest target 56,8%
Spread / Average Target 3,37%
Spread / Lowest Target -51,1%
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Managers
NameTitle
Paul M. Black Chief Executive Officer & Director
Richard J. Poulton President, Chief Financial & Accounting Officer
Michael A. Klayko Chairman
Tim Quigley SVP-Information Technology Services
David D. Stevens Independent Director
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