Allscripts Announces Expanded Share Repurchase Program
November 17 2016 - 4:15PM
Allscripts Healthcare Solutions (NASDAQ:MDRX) announced today that
its Board of Directors has approved a new stock repurchase program
under which Allscripts may purchase up to $200 million of its
common stock through December 31, 2019.
The new stock repurchase program supersedes the
previously existing stock repurchase program, which authorized
Allscripts to repurchase $150 million of its common stock through
December 31, 2018. Under the prior program, Allscripts repurchased
8.1 million shares or approximately $97 million of shares of common
stock.
Under the new program, Allscripts could repurchase approximately
18.4 million additional shares, or approximately 10 percent of the
company's outstanding shares as of October 30, 2016 based on the
November 17, 2016 closing price.
"Extending and expanding Allscripts share repurchase program
reflects our ongoing commitment to enhance shareholder value," said
Melinda Whittington, Allscripts Chief Financial Officer. "The new
program represents an attractive component of our capital
deployment strategy and our continued confidence in Allscripts
long-term growth prospects and free cash flow generation
potential.”
Allscripts plans to repurchase shares from time
to time in the open market or in privately negotiated transactions,
subject to market conditions. There is no guarantee as to the exact
number of shares or value that will be repurchased under the stock
repurchase program, and Allscripts may discontinue purchases at any
time. Whether Allscripts makes any repurchases will depend on many
factors, including but not limited to its business and financial
performance, the business and market conditions at the time,
including the price of Allscripts shares, and other factors that
management considers relevant.
About AllscriptsAllscripts
(NASDAQ:MDRX) is a leader in healthcare information technology
solutions that advance clinical, financial and operational results.
Our innovative solutions connect people, places and data across an
Open, Connected Community of Health™. Connectivity empowers
caregivers to make better decisions and deliver better care for
healthier populations. To learn more, visit
www.allscripts.com, Twitter, YouTube and It Takes A
Community: The Allscripts Blog.
© 2016 Allscripts Healthcare, LLC and/or its
affiliates. All Rights Reserved.
Allscripts, the Allscripts logo, and other
Allscripts marks are trademarks of Allscripts Healthcare, LLC
and/or its affiliates. All other products are trademarks of their
respective holders, all rights reserved. Reference to these
products is not intended to imply affiliation with or sponsorship
of Allscripts Healthcare, LLC and/or its affiliates.
For more information
contact:
Investors:Seth
Frank312-506-1213seth.frank@allscripts.com
Media: Concetta
DiFranco312-447-2466concetta.difranco@allscripts.com
Forward-Looking StatementsThis
press release contains forward-looking statements within the
meaning of the federal securities laws. Statements regarding future
events or developments, our future performance, as well as
management's expectations, beliefs, intentions, plans, estimates or
projections relating to the future are forward-looking statements
with the meaning of these laws. These forward-looking statements
are subject to a number of risks and uncertainties. As a result, no
assurances can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of
them do so, what impact they will have on our results of operations
or financial condition. See our Annual Report on Form 10-K for 2015
and other public filings with the SEC for a further
discussion of these and other risks and uncertainties applicable to
our business. The statements herein speak only as of their date and
we undertake no duty to update any forward-looking statement
whether as a result of new information, future events or changes in
expectations.
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