Harris to acquire Allscripts’ hospital and large physician practice assets

Harris Computer Corporation has completed an agreement to acquire Allscripts’ electronic heath record business segment, which includes Allscripts’ Sunrise, Paragon, TouchWorks, Opal and dbMotion tools.

In a £528 million ($700 million) deal, the purchase price consideration consists of a fixed price of £505 million ($670 million) to be paid at closing, plus contingent consideration of up to £28 million ($30 million) based on performance of the business during the two years following transaction closing.

Jeff Bender, CEO, Harris, commented on the announcement: “We have been watching and admiring the hospitals and large physician practices franchise for many years. We believe that we are the perfect forever home for the many talented employees and loyal customers that are the backbone of the franchise.  We are excited to begin the next chapter in our Harris story, continuing to serve those who serve us in the communities where we live, by partnering with healthcare professionals to deliver care that improves lives.”

Jerry Canada, President for Healthcare, Harris, added: “Harris is excited to welcome the staff and customers that helped make Allscripts a success in the hospitals and large physician practices segment. We believe that the employees and customers of both organisations will benefit from the possibilities created by this forever relationship. I have personally been fortunate to engage with the leadership team during this process and I am looking forward to exploring and realizing our potential together.”

Paul M. Black, Chief Executive Officer, Allscripts, said: “The medical industry we faithfully serve has gone through tremendous change and the needs of the customers in our different business segments continue to evolve in different ways.  We think this transaction maximises focus as well as future opportunity for our clients, our more than 7,500 associates and our shareholders.

“Harris has demonstrated excellence in software development, customer satisfaction and worldwide growth in healthcare. We are pleased that our solutions will be a key strategic component of Harris’ plans to become leaders in digital health.  As the cornerstone in the Harris portfolio, we are proud that our customers will continue to benefit from a true platform of health.”

In recent large acquisition news, HTN reported on Oracle’s acquisition of Cerner for $28.3 billion. The duo made the joint announcement in December, with the transaction expected to close in 2022.