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EXHIBIT 99.2
ECLIPSYS CORPORATION ADOPTS SHAREHOLDER RIGHTS PLAN
DELRAY BEACH, FL -- JULY 26, 2000 -- Eclipsys Corporation(R) (NASDAQ: ECLP), the
leading provider of end-to-end information solutions that enable healthcare
organizations (HCOs) to balance and improve clinical, financial and satisfaction
outcomes, today announced that its Board of Directors has adopted a Shareholder
Rights Plan.
Under the Rights Plan, Eclipsys will distribute Rights to purchase shares of a
new series of preferred stock as a dividend at the rate of one Right for each
share of Eclipsys Common Stock held by shareholders of record as of the close of
business on Aug. 9, 2000. The issuance of the Rights will not affect the
company's reported financial condition or results of operations (including
earnings per share).
The Rights Plan is designed to enable all Eclipsys shareholders to realize the
full value of their investment and to provide for fair and equal treatment for
all shareholders in the event that an unsolicited attempt is made to acquire
Eclipsys. The adoption of the Rights Plan is intended as a means to guard
against abusive takeover tactics and is not in response to any particular
proposal.
Under the Rights Plan, the Rights will initially trade together with the
Eclipsys Common Stock and will not be exercisable. If a person or group other
than General Atlantic Partners, LLC, acquires 15% or more of the outstanding
shares of Eclipsys Common Stock, the Rights generally will become exercisable
and allow the holder (other than the purchaser) to purchase shares of Eclipsys
Common Stock at a 50% discount to the market price.
Additional details of the Rights Plan will be outlined in filings with the
Securities and Exchange Commission.
ABOUT ECLIPSYS
Eclipsys Corporation (www.eclipsys.com) delivers end-to-end information
solutions that enable healthcare enterprises to achieve balanced and improved
clinical, financial and satisfaction outcomes. Solutions include its
comprehensive, knowledge-based Sunrise software line; leading-edge integration
solutions; application services provider (ASP) information-management solutions;
business process reengineering; network design and implementation; and full IT
outsourcing. In conjunction with its HEALTHvision affiliate (see
www.healthvision.com), Eclipsys provides customized, locally branded Web-based
solutions to healthcare delivery systems. Eclipsys has more than 1,400 customer
organizations throughout the U.S. and in 17 other countries. For more
information, contact Investor Relations at [email protected] or by
calling (561) 266-2324.
Statements in this news release concerning future results, performance or
expectations are forward-looking statements. Because such statements involve
risks and uncertainties, actual results may differ materially
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from those expressed or implied by such forward-looking statements. These risks
include those relating to uncertainties regarding future financial results and
other risks described in the filings of Eclipsys with the Securities and
Exchange Commission. Eclipsys and The Outcomes Company are registered trademarks
and Sunrise is a trademark of Eclipsys Solutions Corp. Other product and company
names in this news release are trademarks or registered trademarks of their
respective companies.
Contacts:
Eclipsys: Randy L. Thomas, Strategy and Market Development (media)
(561) 266-2348 - [email protected]
Greg Wilson, CFO (investors)
(561) 266-2324 - [email protected]
