12 Million for the Code from iMedica, yes code is worth a few dollars these days, under the area of intelligent property, and it appears after 2008 the integrated practice management portion of My Way will be up to Misys to develop without the help of iMedica. The history of Misys has been through purchases and consolidations of different software technologies brought together under one roof over the years, lots of software integration work and different shapes and sizes of code that needed development to work together and the company grew from there.
Earlier this year it was announced that Chicago-based Allscripts and Misys merged to create a new LLC, so maybe 3's a crowd here. BD
Misys Healthcare Systems and iMedica Corp. have settled a dispute over a year-old contract under which Misys licensed and markets iMedica's integrated practice management and electronic health records software for smaller physician practices. Now, Misys will pay millions of dollars more to keep selling the technology. Raleigh, N.C.-based Misys in August 2007 paid $5 million to license the software, which it rebranded as Misys MyWay. Misys also invested $8 million in iMedica.
On Aug. 13, 2008, iMedica informed Misys that the contract would be terminated. Carrollton, Texas-based iMedica did not publicly state reasons for terminating the contract. However, the competitive landscape changed in March 2008 when Misys announced it would merge with Chicago-based Allscripts LLC, a deal expected to close soon.
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