Allscripts to acquire Practice Fusion for $100M in cash
Allscripts announced a definitive agreement to acquire Practice Fusion, for $100M in cash, subject to adjustment for working capital and net debt. Practice Fusion is a Silicon Valley pioneer in partnering with top-tier life sciences organizations to drive innovation. In combination with Allscripts existing payer and life sciences business, Allscripts expects to expand its big data insights and analytics, data sharing technologies, and clinical trial solutions to enable life sciences organizations to accelerate bringing life-changing therapies to market. Practice Fusion offers an affordable certified cloud-based EHR for traditionally hard-to-reach small, independent physician practices. Privately held Practice Fusion, founded in 2005 and based in San Francisco, supports 30,000 ambulatory practices and 5 million patient visits a month. This strategic acquisition is expected to further advance Allscripts' strategy to offer the most comprehensive, high performing health information technology and solutions. Practice Fusion's EHR will complement and round out Allscripts existing ambulatory clinical portfolio, providing a value offering and "last mile" reach to the under-served clinicians in small and individual practices.