Reuters: Global Markets: Allscripts shares jump on report company considering sale

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Allscripts shares jump on report company considering sale Sep 28th 2012, 17:56 Fri Sep 28, 2012 1:56pm EDT (Reuters) - Shares of Allscripts Healthcare Solutions Inc (MDRX.O) rose as much as 20 percent on Friday after Bloomberg reported that the healthcare information technology provider was exploring a sale. Bloomberg, citing people familiar with the matter, said Allscripts had spoken to several private-equity firms including Blackstone Group LP (BX.N) about a leveraged buyout. Shares of the company rose as high as $13.06 in afternoon trade, valuing it at about $2.2 billion. An Allscripts spokeswoman declined to comment. Allscripts has hired Citigroup Inc (C.N) to advise on the possible deal, Bloomberg reported, adding that its sources said no deal was imminent and that the company may decide not to sell. Allscripts settled a proxy fight in June with hedge fund HealthCor Management and placed three of the investor's nominees on its board. Healthcor, which owned 7.5 percent of Allscripts as of June 30, had sued Allscripts in May to be allowed to launch a proxy fight after the company's CEO refused a demand to resign. Weak contract bookings and higher development costs prompted the company to cuts its 2012 earnings outlook in April. Allscripts, like other healthcare IT providers, has suffered as hospitals cut costs. (Reporting by Vidya P L Nathan, Editing by Ted Kerr) Link this Share this Digg this Email Reprints

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