dbMotionAllscripts' acquisition is a natural evolution of a strategic partnership that began in 2009 and was strengthened in 2011 when Allscripts made an equity investment in the company. Since then, Allscripts has become the largest integrator of dbMotion technology, a key component of the Allscripts Connected Community of Health ™. Today, 370 hospitals and 2,800 clinics use dbMotion technology globally.
"We share Allscripts' vision to create an open, EHR-neutral, connected community of health," said Yuval Ofek, Chairman and Chief Executive Officer, dbMotion. "We look forward to accelerating our mission to impact industry-wide interoperability and to deliver solutions that support new value-based payment models and improve the health of populations."
Allscripts acquired dbMotion for approximately $235 million in total consideration. This consists of $145 million in cash, $50 million of Allscripts common stock and $40 million in cash via a note payable, due within 18 months. Allscripts will fund the transaction with existing cash and borrowings under its revolving credit facility.
JardogsJardogs offers cloud-based patient and consumer engagement technology that enables communication and collaboration between physicians, caregivers, and medical consumers."Improved alignment between FollowMyHealth™ and the Allscripts platforms will benefit clients and patients," said Jim Hewitt, Chief Executive Officer. "We're very excited about connecting patients to their physicians and communities as an integrated extension of Allscripts platform." Additional benefits resulting from these transactions include control of core strategic platform technologies, improved and consistent client experience as well as the benefit of direct sale economics, including incremental license software margin as well as professional services, hosting and subscription fees. The Allscripts Board of Directors approved both transactions, unanimously. On an earnings per share basis, Allscripts expects the transactions to be slightly dilutive in 2013 and accretive in 2014.