Allscripts expands physician base with Practice Fusion purchase
Allscripts is significantly enhancing its physician customer base with an agreement to acquire physician practice vendor Practice Fusion for $100 million.
Practice Fusion offers a cloud-based platform electronic health record for small independent practices and supports about 30,000 practices. Allscripts connects 45,000 physician practices which total about 180,000 doctors.
Both Allscripts and Practice Fusion have emerging life sciences initiatives with the goal of supporting clinical trials that could bring new therapies to the market. And Practice Fusion has the “last mile” ties to reach clinicians in small practices and enable them to participate in clinical trials and other life sciences projects, Allscripts executives say.
“Combined with Practice Fusion, we expect Allscripts to continue to drive innovation in addressing gaps in care, improving clinical outcomes and real-world evidence research,” says Rick Poulton, president of Allscripts. “Practice Fusion’s affordable EHR technology supports traditionally hard-to-reach independent physician practices, and its cloud-based infrastructure aligns with Allscripts’ forward vision for solution delivery.”
Allscripts will use existing secured credit lines and cash balances to fund the acquisition of Practice Fusion, with the expectation of closing the deal by the end of the first quarter of 2018.