EHR vendor Allscripts has reached an agreement to acquire prescription and prior authorization platform ZappRx, according to CNBC. The acquisition will help Allscripts diversify its business outside of electronic medical record (EHR). The company has raised a total of $40M in funding to date.Founded in 2012 by Zoe Barry who previously worked at athenahealth, ZappRx streamlines the complex process required to order specialty medications, increasing efficiencies when collecting and maintaining the
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Bill Conway Returns to athenahealth as Chief Sales Officer
athenahealth, Inc., a provider of network-enabled services for ambulatory and hospital customers nationwide, announced today that Bill Conway has been appointed Chief Sales Officer. In his new role, Mr. Conway will work closely with the athenahealth executive leadership team on strategic execution to help accelerate the Company’s vision of transforming the healthcare industry. Bill Conway, a health IT industry veteran previously served as Senior Vice President of Sales and Client Services at
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KLAS: Allscripts Continues Trend of Sunrise & Paragon Losses in 2018
In terms of EMR purchasing, 2018 was the busiest of the past three years. This energy impacted every market sector, with the US government finalizing contracts, three large health systems changing EMRs, and the small-hospital market continuing to see churn, according to a new KLAS Report.The KLAS annual report, “US Hospital EMR Market Share 2019,” is based on acute care EMR purchasing activity (i.e., executed contracts) that occurred in the United States from January 1–December 31, 2018. KLAS
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Epic, Impact Advisors and Premier Named 2019 Overall Best in KLAS
Epic was named the top Overall Software Suite for the ninth consecutive year in the newly released Best in KLAS2019 Software & Services report. In addition to the overall software suite award, Epic was named the top Overall Physician Practice Vendor, won Best in KLASawards in nine segments, and won Category Leader awards in two segments. Understanding Best in KLAS Best in KLAS is based on information obtained from the 2,500 interviews KLAS conducts with providers and payers each
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M&A: Veritas and Evergreen Coast Capital to Acquire athenahealth for $5.7B
athenahealth, Inc., today announced private equity firms Veritas Capital and Evergreen, the private equity subsidiary of Elliott Management will acquire athenahealth for approximately $5.7 billion in cash ($135 per share). The acquisition comes months after Elliot Management made an unsolicited bid to acquire the company for $6.5B.Financial DetailsUnder the terms of the agreement, athenahealth shareholders will receive $135 in cash per share. The per share purchase price represents a premium of
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Jonathan Bush Steps Down as CEO of athenahealth, Board to Consider Sale, Merger
athenahealth announced this morning that founder Jonathan Bush is stepping down as CEO, effectively immediately. The Board of Directors has initiated a process to explore strategic alternatives and will consider a sale, merger or other transaction involving the Company as well as continuing as an independent company. In addition, the Board has also initiated a search process to identify qualified CEO candidates.Jeff Immelt, Chairman of athenahealth, has been appointed Executive Chairman, Marc
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KLAS Unveils 5 Small Hospital EMR Market Trends to Watch
In 2017, 216 acute care hospitals contracted for a new EMR, with 1–200 bed hospitals accounting for the vast majority (80%) of these decisions, according to a recent KLAS report. EMR purchasing by smaller hospitals is being driven primarily by these organizations’ need to exchange information with surrounding hospitals and desire for vendors that offer newer, more innovative technology and more flexible financial options. These smaller hospitals are hungry for new technology but often resource
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Elliott Management Outlines Concerns With athenahealth’s Lack of Engagement Over Acquisition Bid in Letter
On Tuesday, Elliott Management Corporation (“Elliott”) released a letter to the Board of Directors of athenahealth, Inc. regarding Elliott’s proposal to acquire athenahealth for $160 per share in cash that could worth about $7 billion dollars.The letter outlined Elliott’s concerns with athenahealth’s refusal thus far to engage with any of the parties, including Elliott, that have expressed interest in acquiring athenahealth.“Since that time, we have heard nothing from the Company beyond its
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Elliot Management Makes $6.5B Unsolicited Bid to Acquire athenahealth
athenahealth has received an unsolicited proposal from Elliott Management to acquire the Company for $160 per share in cash that could be worth about $7 billion, including debt, CNBC first reports.In a letter sent to athenahealth’s management, the activist firm stated, “It is clear to us and becoming clear to many others that Athenahealth’s potential will never be realized without the kind of operational change that the company seems unable to deliver.” The letter also states that Elliot
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Former GE CEO Jeff Immelt Appointed Chairman of athenahealth
athenahealth, a provider of network-enabled services for hospital and ambulatory clients has appointed Jeff Immelt, former GE chairman and CEO, as chairman of athenahealth, effective, February 7, 2018.Mr. Immelt’s appointment as independent chairman is part of a series of strategic initiatives that athenahealth launched in 2017 to create a more focused and efficient company, drive increased levels of profitable growth, and enhance shareholder value. As part of these initiatives, the Company has
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