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Allscripts gets first offers from PE group: report
October 8, 2012 / 1:20 PM / 5 years ago

Allscripts gets first offers from PE group: report

(Reuters) - Allscripts Healthcare Solutions Inc received offers from a private-equity consortium including Blackstone Group LP and Carlyle Group LP, Bloomberg reported, sending the healthcare company’s shares up 6 percent in premarket trade.

Late last month, sources familiar with the matter said the company had held talks with private equity firms about the possibility of a leveraged buyout.

Bloomberg, quoting sources, said Allscripts wanted second-round offers within three to four weeks.

An Allscripts spokeswoman said the company does not discuss rumors or speculation. Blackstone and Carlyle could not immediately be reached for comment.

In June, Allscripts settled a proxy fight with hedge fund HealthCor Management, placing three of the investor’s nominees on its board.

HealthCor had sued the company in May to be allowed to launch a proxy fight after the company’s chief executive, Glen Tullman, refused a demand to resign.

Allscripts, which makes software applications for healthcare providers such as hospitals and physicians, is expected to benefit from the Obama Administration’s push to computerize patients’ health records.

Allscripts shares were up 6 percent at $14.10 in premarket trade. They closed at $13.33 on Friday on the Nasdaq.

Reporting by Esha Dey in Bangalore; Editing by Saumyadeb Chakrabarty

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