Misys

Open Health Tools group commissions server-based interoperability tools

Anne Zieger — Mon, 15 Dec 2008 08:47:29 -0500

With interoperable components being the most costly part of a Health Information Exchange (HIE), there's no doubt that bringing down their cost is a priority. Now the Open Health Tools (OHT) Foundation has approved a new project that will develop server-based tools to create interoperability between disparate health systems.

An operable beta version is scheduled to be available in February 2009; the system, when finished, is expected to dramatically drive down the cost of interoperability components.

OHT is a collaborative effort between government health agencies, healthcare providers, researchers, academics, and companies from countries around the world. The project will be led by Misys Open Source Solutions, a division of Misys plc that will donate code and work on the project.

To learn more about the project:
- read this Healthcare IT News piece

HIT M&A numbers up despite market downturn

Mon, 14 Apr 2008 06:59:58 -0400

Despite recent turmoil in the financial markets, it looks like health IT transactions have had a surprisingly healthy few months. During the first quarter of 2008, 57 HIT deals were announced, equal to the number of deals announced in Q1 '07, according to a study by Healthcare Growth Partners. Not only did deal flow keep pace, valuations of companies involved actually grew. The media revenue multiple in such deals made a big jump in Q1 '08, hitting 2.1x, as compared with 1.4x during the same quarter last year. Meanwhile, the median EBITDA multiple climbed too, rising to 14.2x compared with 13.4x for 2007. More than half of the deals were for less than $50 million, though a few--such as the Misys/Allscripts combination--were valued at over $100 million.

For more data from the report:
- read this report (.pdf)

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Allscripts/Misys merger speeds HIT consolidation

Mon, 24 Mar 2008 07:59:58 -0400

In a deal that strongly suggests that the exploding HIT market has some limits, Allscripts and Misys Healthcare have announced a merger. The deal follows years of turmoil for Misys, which allegedly had been on the market for years and had seen considerable management turnover. The new entity will affect an estimated 150,000 plus physicians and 700 hospitals. The deal should offer each side complimentary technical expertise and products, with Allscripts bringing clinical software, connectivity and information solutions for physicians, while Misys focuses on software for physician offices.

Under the terms of the transaction, British-based Misys PLC gets a 54.5 percent stake in the combined company, which will fold Raleigh, NC-based Misys Healthcare into a wholly-owned subsidiary of Allscripts. Misys PLC will contribute $330 million in cash to Allscripts in pay for the shares. Allscripts, for its part, will pay out a special cash dividend of $330 million, or about $4.90 per share, to Allscripts stockholders who possessed stock as of the last business day immediately before the deal closed.

To learn more about the deal:
- read this Healthcare IT News piece

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