The merger of two healthcare information technology companiesa healthcare subsidiary of U.K-based Misys and Chicago-based Allscripts Healthcare Solutionshas been approved by Allscripts shareholders, the company announced today. More than 97% of the Allscripts shares that were voted were cast in approval of the merger, the company said in a news release. In addition, shareholders at a Misys "extraordinary general meeting" also held today approved the merger between Misys Healthcare Systems and Allscripts, the statement said.
Under terms of the deal, Misys paid $330 million and provided its healthcare division, Misys Healthcare Systems, to the new company to be called Allscripts-Misys Healthcare in return for a 54.5% ownership stake in the new firm, according to Todd Stein, senior manager/public relations for Allscripts. Shares of the merged company will continue to trade on the Nasdaq exchange under the Allscripts symbol MDRX, Stein said.
At deadline, as the stock market is being hammered by the global financial crisis, Allscripts shares are not immune, falling 3.5% or $0.41 to $11.26 a share from close.