(By Balachander) Allscripts Healthcare Solutions Inc. (NASDAQ:MDRX) shares rose on Monday after Bloomberg reported that the healthcare services company received offers from a private-equity consortium including Blackstone Group LP and Carlyle Group LP.
According to the Bloomberg report, "Allscripts had spoken to several private-equity firms including Blackstone Group LP (BX) about a leveraged buyout," and "Allscripts has hired Citigroup Inc (C) to advise on the possible deal. However, "its sources said no deal was imminent and that the company may decide not to sell."
Allscripts - a developer of software applications for hospitals and physicians - wanted second-round offers within three to four weeks, Bloomberg reported, citing sources.
Earlier this year, the company announced that Philip Pead, former Eclipsys CEO, has been terminated as Chairman of the Board. Additionally, 3 other board members – 2 with ties to Eclipsys – resigned as directors. Long time CFO Bill Davis is also leaving the company to pursue another opportunity with a private non-HCIT company.
HealthCor Management LP, which owned 7.4 percent of MDRX as of June 30, sued Allscripts in May after the board shakeup.
In June, Allscripts settled the lawsuit with HealthCor Management, agreeing to nominate three of independent directors to its board.
The stock, which has been trading in the 52-week range of $8.84 to $21.66, added 33 cents to trade at $13.66 on Monday.