Allscripts announced a definitive agreement to acquire Practice Fusion, for $100 million in cash, subject to adjustment for working capital and net debt.
In combination with Allscripts existing payer and life sciences business, Allscripts expects to expand its big data insights and analytics, data sharing technologies, and clinical trial solutions to enable life sciences organizations to accelerate bringing life-changing therapies to market. Practice Fusion offers an affordable certified cloud-based EHR for traditionally hard-to-reach small, independent physician practices. Privately held Practice Fusion, founded in 2005 and based in San Francisco, supports 30,000 ambulatory practices and 5 million patient visits a month.
Practice Fusion’s EHR will complement and round out Allscripts existing ambulatory clinical portfolio, providing a value offering and “last mile” reach to the under-served clinicians in small and individual practices.
This transaction is targeted to close in the first quarter of calendar 2018, subject to the satisfaction of customary closing conditions, including the expiration or termination of the waiting period under U.S. antitrust laws.
