Stockholders of healthcare IT developers directory/allscripts" target="_blank" class="directory-item-link">Allscripts and Eclipsys approved the merger of the two companies at a special meeting held Aug. 13.
Ninety-nine percent of the Allscripts shares voted were in favor of the issuance of Allscripts shares to stockholders of Eclipsys in the merger. At the special meeting of Eclipsys stockholders, held the same day in that company's home city of Atlanta, 99 percent of the Eclipsys shares voted approved the merger (representing 83 percent of the shares outstanding).
"The overwhelming support shown by stockholders of both Allscripts and Eclipsys demonstrates that, in addition to our clients and prospects, the market understands the compelling value of this strategic combination," said Allscripts CEO Glen Tullman. "These approvals mark a key step forward towards creating a clear leader in healthcare information technology, with the most comprehensive solution offering for healthcare organizations of every size and setting."
Allscripts has been focused on physician practice market, while Eclipsys has pursued the hospital sector.
Phil Pead, president and CEO of Eclipsys, said that "the rapid changes occurring in healthcare demand solutions that span the complex venues of care. With the industry's largest client base, our merged company will be well positioned to respond to these changes by delivering solutions that improve the quality and lower the cost of care while providing a seamless patient experience."
Under the terms of the merger agreement announced on June 9, Eclipsys stockholders will receive 1.2 shares of Allscripts for each share of Eclipsys. Allscripts and Eclipsys expect the transaction to be completed promptly after all other conditions to the merger are satisfied, including the completion of the sale of no less than 25 million shares of Allscripts common stock currently held by Misys in an underwritten public offering and the completion of Allscripts repurchase from Misys (or one or more of its subsidiaries) of 24.4 million shares of Allscripts common stock.
