) -- Health care software company
agreed to acquire rival
( ECLP), a provider of software for hospitals and clinicians, for $1.3 billion in stock.
Eclipsys stockholders will receive 1.2 shares of Allscripts for each share of Eclipsys. The deal represents a 19% premium based on the closing stock price of Eclipsys on Tuesday of $18.51.
The combined client base will include more than 180,000 U.S. doctors, 1,500 hospitals, and almost 10,000 nursing homes, the companies said in a statement Wednesday.
The merger also positions the combined company to help its clients more effectively access the roughly $30 billion in federal funding for the adoption of electronic health records.
As part of the deal, the U.K.'s
, the majority owner of Allscripts, said it will reduce its stake in Allscripts prior to the closing of the merger to 10% from about 55%.
-- Reported by Joseph Woelfel in New York.
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