Allscripts Healthcare Solutions announced today that its Board of Directors has approved a new share repurchase program under which Allscripts may purchase up to $350 million of its common stock. The new share repurchase program does not have a termination date.
The new share repurchase program replaces the previously existing share repurchase program, which authorized Allscripts to repurchase $300 million of its common stock through December 31, 2021. Allscripts repurchased the entire amount available under the prior program.
"Our strong balance sheet and financial performance enable us to expand our share repurchase program, which remains an attractive component of our capital deployment strategy," said Rick Poulton, Allscripts President and Chief Financial Officer.
Allscripts plans to repurchase shares from time to time in the open market, through transactions that may be characterized as derivatives (including accelerated share repurchases), 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.
Allscripts (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.
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