November 13, 2012 / 8:40 PM / in 5 years

Carlyle, Blackstone, TPG bid for Allscripts Healthcare-sources

NEW YORK, Nov 13 (Reuters) - Private equity firms Carlyle Group LP, Blackstone Group LP and TPG Capital LP are bidding for Allscripts Healthcare Solutions Inc, a healthcare technology company exploring a sale, people familiar with the matter said this week.

These buyout firms submitted second-round offers on Friday, a day after Allscripts reported weak quarterly earnings, and following meetings with the company’s management last month, the four sources said this week. They asked not to be named because details of the auction are not public.

Allscripts, which has a market value of around $2 billion, has asked for a substantial premium to its current trading prices, and there is no guarantee that a deal will be reached, the people said.

The private equity bidders are in continuing due diligence and any decision is still weeks away, they said.

A few other buyout firms that also looked at Allscripts, including Bain Capital LLC, have decided not to pursue a deal partly because of the company’s high price expectations and management turmoil, the people said.

Allscripts and TPG declined to comment. Carlyle, Blackstone and Bain did not immediately respond to requests for comment.

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