EHR developer Allscripts promoted Chief Financial Officer Rick Poulton to president, the Chicago-based company said Wednesday. He assumes the new title from CEO Paul Black, whose contract the company extended through 2018.
Poulton, who will be responsible for leading day-to-day operations, will continue to report to Black, who has held the dual position of president and CEO since joining the company in December 2012.
Poulton will maintain the CFO title and responsibilities until a successor is hired.
"These changes reflect the deep bench of talent at Allscripts and better position us to meet our long-term strategic goals, including growing our client base, investing in emerging growth markets, delivering consistent financial results, and ensuring efficient operations,” Black said in a news release.
Black, whose previous contract was set to expire this December, said his focus will shift to global strategy.
Allscripts has struggled toward profitability but improved revenue growth in recent filings.
For the quarter ended June 30, the company lost $3.2 million on revenue of $352 million, compared with a $17.8 million loss on $351 million in revenue during the same quarter in 2014.
This summer, Allscripts swapped equities with billionaire healthcare entrepreneur Dr. Patrick Soon-Shiong, founder of NantHealth, an health IT-infused precision medicine startup. Allscripts purchased a 10% stake in NantHealth for $200 million in cash while Soon-Shiong's NantCapital, a personal investment vehicle, invested $100 million investment in Allscripts.
Allscripts, along with partners Computer Sciences Corp. and Hewlett-Packard, was one of the losing bidders for a contract to replace the electronic health record for the Defense Department's Military Health System. The contract prize, estimated to be worth $9 billion, was awarded instead in July to rival EHR developer Cerner Corp. and teammates Leidos and Accenture Federal Services.
