Filed Pursuant to Rule 424(b)(3)
Registration No. 333-31768
AREMISSOFT CORPORATION
a Delaware corporation
Prospectus Supplement No. 1
(To Prospectus Dated September 1, 2000)
You should read this prospectus supplement and related prospectus carefully
before you invest. Both documents contain information you should consider when
making your investment decision.
On September 7, 2000, we entered into an agreement with Acqua Wellington
North American Equities Fund, Ltd., for the sale of 474,871 shares of our Common
Stock for an aggregate purchase price of $12,000,000, or $25.27 per share. The
purchase price was determined by the average of the Volume Weighed Average Price
as reported by Bloomberg over an agreed upon pricing period, less a six percent
discount.
On September 6, 2000, we sold our UK Healthcare Business to Torex, Plc,
a UK based information technology solution provider to the healthcare and retail
markets. The transaction was structured as a sale of certain assets and the
assumption of certain liabilities in exchange for a net cash consideration of $3
million. The transaction failed to meet the "significance" test set forth in
Instruction 4 of Item 2 of Form 8-K. Under the terms of the agreement, Torex,
Plc, is acquiring approximately 500 UK Healthcare customers, primarily physician
groups, and a perpetual license to the related UK Healthcare software. We will
transfer 24 UK Healthcare employees to Torex Plc and we will retain all of our
Healthcare software intellectual property.
From time to time, we engage in preliminary discussions with various
businesses in order to explore the possibility of acquiring or investing in
businesses, products, or technologies that compliment ours. As of the date of
this prospectus supplement, we have not entered into any definitive agreements
with any of these businesses. However, we are currently in discussions with
Eltrax Systems, Inc., in an effort to reach an agreement to acquire certain
assets, and assume certain liabilities constituting most of their hospitality
software division worldwide. While we believe these discussions are progressing,
we can not give assurances that we will eventually reach an agreement with terms
and conditions acceptable to us.
The date of this Prospectus Supplement is September 7, 2000 .
