The Allscripts-Misys group was hit with the Wall Street crisis as well and has had to work on financing issues as changes occurred. It appears the core focus now with the company will be in the area of Health IT. BD
The Chicago-based company, formed by a merger in 2008, has approved a repurchase program for up to $150 million in common stock over the next two years.
It also has entered a new agreement with JPMorgan Chase Bank to increase its credit line by $50 million to $125 million and add Fifth Third Bank as syndication agent and co-lead arranger. Under the terms, the credit line may be expanded by another $25 million later.
The company also announced the pending sale of its medication services unit to an unnamed firm. The unit sells prepackaged medications and provides point-of-care medication management and medical supply services.
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