I personally received your various emails over the last week (and today) regarding Allscripts announcements on Wednesday, December 19.
I understand your concern regarding Allscripts shareholder value and what the future may hold.
Let me offer you some facts for consideration.
First, during the strategic alternatives process, Allscripts Board of Directors conducted a thorough and rigorous review of alternatives. The Board concluded that the best course at this time is to develop Allscripts long-term potential under the direction of a new management team.
Over the coming weeks and months, Paul Black, our new CEO and healthcare IT industry veteran, will work with his leadership team on enhancing our operational efficiency, solutions sales efforts and our financial strategy to ensure that Allscripts is positioned for success and value enhancement.
Regarding your statement on a share repurchase, Allscripts currently has approximately $125MM remaining on its existing $400MM share repurchase authorization announced in May, 2011. Our leadership team is evaluating our capital allocation strategy and will update the market on our Q4 2012 earnings call, which will take place in the mid-February timeframe.
In the meantime, Allscripts fundamentals remain strong – a large client base, strong financial position, one of the industry’s largest investments in R&D, and a refreshed product portfolio based on Open technology.
I hope this perspective is helpful and we again understand and appreciate your concerns as an Allscripts shareholder.
Sincerely,
Seth
Seth R. Frank | Vice President, Investor Relations
Allscripts | 222 Merchandise Mart | Suite 2024 | Chicago, IL | 60654
312.506.1213 | P?
