Skip to main content
Subscribe
  • Login
  • My Account
  • Logout
  • Register For Free
  • Subscribe
  • News
    • Current News
    • Providers
    • Insurance
    • Government
    • Finance
    • Technology
    • Safety & Quality
    • Digital Health
    • Transformation
    • ESG
    • People
    • Regional News
    • Digital Edition (Web Version)
    • Patients
    • Operations
    • Care Delivery
    • Payment
    • Midwest
    • Northeast
    • South
    • West
  • Blogs
    • AI
    • Deals
    • Layoff Tracker
    • HLTH 2024
    • Sponsored Content: Vital Signs Blog
  • Opinion
    • Letters
    • From the Editor
  • Events & Awards
    • Awards
    • Conferences
    • Galas
    • Virtual Briefings
    • Webinars
    • Nominate/Eligibility
    • 100 Most Influential People
    • 50 Most Influential Clinical Executives
    • 40 Under 40
    • Best Places to Work in Healthcare
    • Healthcare Marketing Impact Awards
    • Innovators Awards
    • Diversity Leaders
    • Leading Women
    • Best in Business Awards
    • The 2030 Playbook Conference
    • Innovations in Patient Experience
    • Leading Women Conference & Awards Luncheon
    • Leadership Summit
    • Workforce Summit
    • Best Places to Work Awards Gala
    • Diversity Leaders Gala
    • - Looking Ahead to 2025
    • - Financial Growth
    • - Hospital of the Future
    • - Value Based Care
    • - Looking Ahead to 2026
  • Multimedia
    • Podcast - Beyond the Byline
    • Sponsored Podcast - Healthcare Insider
    • Sponsored Video Series - One on One
    • Sponsored Video Series - Checking In with Dan Peres
  • Data & Insights
    • Data & Insights Home
    • Hospital Financials
    • Staffing & Compensation
    • Quality & Safety
    • Mergers & Acquisitions
    • Skilled Nursing Facilities
    • Data Archive
    • Resource Guide: By the Numbers
    • Surveys
    • Data Points
  • Newsletters
  • MORE+
    • Contact Us
    • Advertise
    • Media Kit
    • Jobs
    • People on the Move
    • Reprints & Licensing
    • Sponsored Content
MENU
Breadcrumb
  1. Home
  2. Information Technology
August 04, 2022 06:05 PM

Allscripts new CEO looking for payer, life sciences acquisitions

Jessica Kim Cohen
  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print
    Allscripts logo - small size
    Allscripts

    Allscripts Healthcare Solutions on Thursday posted a nearly 7% rise in year-over-year second-quarter revenue as it continues to refocus its business on its payer and life sciences division, Veradigm.

    Chicago-based Allscripts sold its hospital and large physician practices segment, which included various electronic health record and revenue-cycle management products, to Canadian software company Constellation Software in May. The division accounted for $927.6 million of Allscripts' $1.5 billion in full-year 2021 revenue, but revenue for the division had dropped from a year earlier. Veradigm's 2021 revenue was $552.2 million, up 4.6% from 2020.

    Allscripts has said it would use proceeds from the sale on share repurchases and acquisitions to support Veradigm.

    Allscripts is looking at acquisitions that expand the company's payer and life sciences work "to balance out what's still a provider-centricity that we have," Allscripts' CEO Rick Poulton said Thursday on a call with investment analysts. That "would be top of the list strategically for me."

    Poulton took the helm of Allscripts in early May after the company's long-time CEO, Paul Black, who had led Allscripts since 2012, stepped down.

    Veradigm, a division Allscripts launched in 2018 to sell data and analytics tools that link providers with payers and life sciences companies, is expanding its products for health insurers and providers in areas such as risk analytics and reporting, identifying care gaps, and claims submissions, Poulton said.

    The division has about 80,000 physician customers who use its clinical, financial and patient-engagement products.

    Allscripts reported $150.9 million in revenue for 2022's second quarter, up 6.9% from the year-ago period. Veradigm contributed $144.6 million in revenue, up 8.4% year-over-year.

    The company posted a $5.4 million operating loss for the quarter, compared with $16.8 million in operating income a year ago.

    Allscripts reported a $64.1 million net loss, compared with net income of $21.9 million in last year's second quarter last year.

    The results included $21 million in transaction costs. The company reported an after-tax loss of $67.3 million on the sale of the hospital and large physician practices division, because of legal costs and tax provisions, according to Leah Jones, chief financial officer.

    Veradigm's operating income was $24 million, up 33.3%.

    Allscripts on Thursday reaffirmed its prior revenue outlook for 2022, forecasting that Veradigm's revenue will grow 6-7%.

    Letter
    to the
    Editor

    Send us a letter

    Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.

    Recommended for You
    Racial disparity hospital
    Providers confront racial bias engrained in EHRs
    Judy_Faulkner_Epic_HIMSS17_edit_i.jpg
    Epic outlines what's ahead for patient portal, Cosmos
    Most Popular
    1
    'Legendary' Hemsley takes over at UnitedHealth amid rough seas
    2
    Big retail tried to disrupt healthcare—who is making a dent?
    3
    These are the regulations the AHA wants RFK Jr. to scrap
    4
    Downside risk, upside payment highlight new CMS innovation agenda
    5
    Medicaid cuts bill clears key House committee
    Sponsored Content
    Digital Health Intelligence Newsletter: Sign up to receive a twice-weekly (T, F) morning newsletter featuring the latest reporting on technologies, trends, players and money fueling the rapid changes in how healthcare is developed, paid for and delivered.
    Get Newsletters

    Sign up for enewsletters and alerts to receive breaking news and in-depth coverage of healthcare events and trends, as they happen, right to your inbox.

    Subscribe Today
    MH Magazine Cover

    MH magazine offers content that sheds light on healthcare leaders’ complex choices and touch points—from strategy, governance, leadership development and finance to operations, clinical care, and marketing.

    Subscribe
    Connect with Us
    • LinkedIn
    • Twitter
    • Facebook
    • RSS

    Our Mission

    Modern Healthcare empowers industry leaders to succeed by providing unbiased reporting of the news, insights, analysis and data.

    Contact Us

    (877) 812-1581

    Email us

     

    Resources
    • Contact Us
    • Help Center
    • Advertise with Us
    • Ad Choices
    • Sitemap
    Editorial Dept
    • Submission Guidelines
    • Code of Ethics
    • Awards
    • About Us
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Modern Healthcare
    Copyright © 1996-2025. Crain Communications, Inc. All Rights Reserved.
    • News
      • Current News
      • Providers
      • Insurance
      • Government
      • Finance
      • Technology
      • Safety & Quality
      • Digital Health
      • Transformation
        • Patients
        • Operations
        • Care Delivery
        • Payment
      • ESG
      • People
      • Regional News
        • Midwest
        • Northeast
        • South
        • West
      • Digital Edition (Web Version)
    • Blogs
      • AI
      • Deals
      • Layoff Tracker
      • HLTH 2024
      • Sponsored Content: Vital Signs Blog
    • Opinion
      • Letters
      • From the Editor
    • Events & Awards
      • Awards
        • Nominate/Eligibility
        • 100 Most Influential People
        • 50 Most Influential Clinical Executives
        • 40 Under 40
        • Best Places to Work in Healthcare
        • Healthcare Marketing Impact Awards
        • Innovators Awards
        • Diversity Leaders
        • Leading Women
        • Best in Business Awards
      • Conferences
        • The 2030 Playbook Conference
        • Innovations in Patient Experience
        • Leading Women Conference & Awards Luncheon
        • Leadership Summit
        • Workforce Summit
      • Galas
        • Best Places to Work Awards Gala
        • Diversity Leaders Gala
      • Virtual Briefings
        • - Looking Ahead to 2025
        • - Financial Growth
        • - Hospital of the Future
        • - Value Based Care
        • - Looking Ahead to 2026
      • Webinars
    • Multimedia
      • Podcast - Beyond the Byline
      • Sponsored Podcast - Healthcare Insider
      • Sponsored Video Series - One on One
      • Sponsored Video Series - Checking In with Dan Peres
    • Data & Insights
      • Data & Insights Home
      • Hospital Financials
      • Staffing & Compensation
      • Quality & Safety
      • Mergers & Acquisitions
      • Skilled Nursing Facilities
      • Data Archive
      • Resource Guide: By the Numbers
      • Surveys
      • Data Points
    • Newsletters
    • MORE+
      • Contact Us
      • Advertise
      • Media Kit
      • Jobs
      • People on the Move
      • Reprints & Licensing
      • Sponsored Content