SSC Article DirectoryEzine Article Directory Network, get informed by professionally written articles in every possibile topic.

The U.S. firm of information technology for health care Allscripts said on Wednesday it was to purchase from Eclipsys in about 1,300 million dollars in stocks.

Before the agreement, the majority owner of Allscripts, the British software company Misys, will cut its 55 percent share in Allscripts to about 10 percent, and return more than 1,000 billion dollars to its shareholders.

Eclipsys Investors receive 1.2 shares of Allscripts for each of their shares, which represents a premium of 19 percent over Tuesday’s closing price, the companies said in a statement.

The group’s customer base expanded to include more than 180,000 physicians, 1,500 hospitals and nearly 10,000 nursing homes, and will be better positioned to access the 30,000 million dollars in federal funds for the adoption of electronic records on health care, the companies said.

“We are at the beginning of what we believe will be faster processing of any industry in American history,” said Allscripts CEO Glen Tullman, who will head the merged firm. Eclipsys CEO Phil Pead, will become chairman of the combined group.

The U.S. government is encouraging doctors and hospitals to switch to electronic records, with grants available from 2011. Only 12 percent of doctors use the technology at this time, and Misys CEO Mike Lawrie, said the market was growing at a rate of 15 percent per year.

Allscripts raised its earnings expectations for the fourth quarter to close to 117 million from $ 105 to $ 112 million earlier, and said it expects results for the year ending May be located in the higher end of its goal.

Related posts:

1. FCC: National Broadband Plan, Improve Healthcare, Save Lives Previously, the Federal Communications Commission, more known as the FCC unveiled the National...
2. BP shares rise after the meeting with Obama The president of British Petroleum (BP), Carl-Henric Svanberg, announced yesterday that the company...
3. IBM will buy Sterling Commerce of AT&T for $ 1,400 million The U.S. technology company IBM has reached an agreement with the operator AT&T...
4. Sales of the video game industry dropped by 26% in April Sales of hardware and software of video games fell 26 percent in April,...
5. GM reports first quarterly profit in almost three years General Motors Co. acquired its first quarterly profit in almost three years, based...