Are we about to see some major mergers and acquisitions in the health information technology industry? Perhaps we're about to witness a series of M&As as health IT companies try to dominate the industry and gobble up all the ARRA funds related to HITECH. Eclipsys (Misys Healthcare Solutions) is probably best known for a CPOE system called Sunrise. My wife used Sunrise during her family residency at the University of Pennsylvania. According to Healthcare IT News (which is published in partnership with HIMSS):
Allscripts, makers of electronic health records for physician practices will buy healthcare information technology company Eclipsys, which provides technology for hospitals and clinicians. The all-stock deal is valued at $1.3 billion.
According to Allscripts, the merger will:
- Form one company with the industry's largest network of clients on one product platform, resulting in a single patient record
- Make for a combined client base that includes 180,000 physicians, 1,500 hospitals and 10,000 post-acute organizations
- Reduce Misys ownership in Allscripts through share buyback and secondary offering
- Be accretive to Allscripts non-GAAP earnings starting in calendar year 2011
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