Exhibit 99.1
FOR IMMEDIATE RELEASE
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ALLSCRIPTS COMPLETES
CHANNELHEALTH ACQUISITION
NEW NAME REFLECTS BROADER SOLUTION OFFERING
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CHICAGO, IL, AND BURLINGTON, VT, JANUARY 9, 2001 - Allscripts, Inc. (NASDAQ:
MDRX) and IDX Systems Corporation (NASDAQ: IDXC) announced today that Allscripts
has completed its acquisition of Channelhealth Incorporated ("ChannelHealth")
from IDX. ChannelHealth is a leading provider of clinical and productivity
software solutions for physicians. The transaction, first announced on July 13,
2000, allows for Allscripts' acquisition of ChannelHealth in exchange for 8.6
million shares and a 10-year strategic alliance with IDX. The alliance will
combine talents of both organizations for the joint development and marketing of
an integrated clinical and practice management solution to 118,000 physicians in
the IDX customer base.
The acquisition is expected to create value by providing world class
point-of-care solutions for physicians that improve clinical decision-making,
productivity, and provide additional revenue sources for IDX customers and other
physician practices. Allscripts wireless PDA solutions and its innovative
FirstFill program, where patients have the choice of picking up the first fill
of their prescription at the physicians office or the clinic, will be offered to
the IDX customer base. The ChannelHealth acquisition will combine the full suite
of clinical productivity tools found in the Clinical Works Modules with the
power of Allscripts hand-held applications to create TouchWorks.
Designed with physicians in mind, TouchWorks seamlessly integrates technology
into the entire care process. The TouchWorks modules are accessed using handheld
or desktop workstation devices to automate prescribing, charge capture,
transcription, lab orders and results, patient education, and structured notes;
all with a comprehensive tasking tool that helps to organize a physician's
practice workflow.
Effective with the close of the transaction and to reflect the expanded
solutions now offered by the combined entity, Allscripts will change its name to
Allscripts Healthcare Solutions.
Allscripts Healthcare Solutions Chairman and Chief Executive Officer Glen
Tullman commented: "We continue to be very excited by this acquisition and our
strategic alliance with IDX. We gain significant value with the proven
ChannelHealth solutions and access to more than 118,000 physicians practicing in
prestigious organizations nationwide. By combining the ChannelHealth clinical
tools with our own expertise in delivering point-of-care solutions, we will
greatly enhance the breadth of our point-of-care solutions and accelerate the
distribution of our products to IDX physician practice management customers. We
will also add a talented group of people who will help us accelerate the
development of physician focused solutions."
"We are seeing strong market and customer demand for the integrated
point-of-care tools and practice management systems," said Rich Tarrant, chief
executive officer of IDX and newly appointed vice-chairman of the Allscripts
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Board of Directors. "We look forward to the future success of this alliance and
to working closely with Allscripts to provide this valuable integrated offering
to our customer base of premier healthcare institutions."
About Allscripts Healthcare Solutions
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Allscripts Healthcare Solutions is the leading provider of point-of-care
decision support solutions for physicians. Designed with physicians in mind, the
Allscripts TouchWorks solution seamlessly integrates technology into the entire
care process. The TouchWorks modules are accessed using handheld or desktop
workstation devices to automate prescribing, charge capture, transcription, lab
orders and results, patient education, and structured notes; all with a
comprehensive tasking tool that helps to organize a physician's practice
workflow. We also offer many of our physicians and their patients access to our
FirstFill program, which provides patients with the first dosage of the most
commonly prescribed medications from the physician's office. TouchWorks software
and applications run on Microsoft PocketPC and Windows CE operating systems.
Allscripts Healthcare Solutions provides its applications on the Compaq iPAQ and
the Hewlett-Packard Jornada hand-held wireless hardware. The Company also
provides a number of patient compliance and physician education services such as
its e-Detailing(TM) products from its Physicians Interactive unit, as well as
e-commerce applications. Allscripts' MasterChart unit markets innovative
hand-held digital dictation solutions for physicians. Allscripts also allows
physicians to access and prescribe patient care plans, directly in the office
and over the Internet, through its Medifor unit. Strategic partners include IMS
Health, the world's leading supplier of information solutions to the
pharmaceutical and healthcare industries, Express Scripts, the nation's largest
independent full-service pharmacy benefit manager, and Dendrite, a leading
global provider of highly specialized, integrated product and service offerings
for the pharmaceutical industry. Allscripts is headquartered in Illinois and
provides services to over 13,500 physicians at 3,500 sites across the U.S.
VISIT ALLSCRIPTS ON THE WEB AT ALLSCRIPTS.COM. Allscripts, TouchWorks,
TouchWorks Professional, TouchWorks Enterprise, FirstFill, Personal Prescriber
and 3Touch are trademarks of Allscripts Healthcare Solutions.
This announcement contains forward-looking statements about Allscripts
Healthcare Solutions that involve risks and uncertainties. These forward-looking
statements are developed by combining currently available information with
Allscripts' beliefs and assumptions. These statements often contain words like
will, believe, expect, anticipate, intend, contemplate, seek, plan, estimate or
similar expressions. Forward-looking statements do not guarantee future
performance. These statements are made under the protection afforded them by
Section 21E of the Securities Exchange Act of 1934. Because Allscripts cannot
predict all of the risks and uncertainties that may affect it, or control the
ones it does predict, Allscripts actual results may be materially different from
the results expressed in its forward-looking statements. For a more complete
discussion of the risks, uncertainties and assumptions that may affect
Allscripts, see the Company's 1999 Annual Report on Form 10-K and registration
statement and proxy statement to be filed in connection with the merger with
ChannelHealth. Such documents can be obtained through the website maintained by
the Securities and Exchange Commission at www.sec.gov.
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About IDX
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Founded in 1969, IDX Systems Corporation provides complete healthcare
information solutions for physician group practices, management service
organizations, academic medical centers, and integrated delivery networks
(IDNs). To connect systems and sites across the enterprise, IDX offers a
comprehensive set of products and services designed to align physicians and
hospitals, streamline patient flow, enhance quality, and reduce costs. IDX
products are used by, or are under contract to be used by, more than 125,000
physicians and are installed at over 2,065 client sites. This includes more than
265 large physician group practices with more than 75 physicians, more than 510
physician practices with 75 or fewer physicians, and more than 280 IDNs
representing over 370 hospitals. EDiX Corporation, an IDX subsidiary, offers
Internet-based medical transcription and clinical documentation services to over
130 physician group and hospital customers.
This press release contains forward-looking statements about IDX Systems
Corporation that involve a number of risks and uncertainties. Among the
important factors that could cause actual results to differ materially from
those indicated by such forward-looking statements are possible deferral, delay
or cancellation by customers of computer system purchase decisions, possible
adverse change in the business or stock price of Allscripts, Inc., the inability
of IDX to realize benefits from its alliance with Allscripts, Inc., possible
delay of systems installations, development by competitors of new or superior
technologies, changing economic, political and regulatory influences on the
healthcare and Internet industries, changes in product pricing policies, general
economic conditions and regulatory developments in the healthcare industry, and
factors detailed from time to time in the IDX's periodic reports and
registration statements filed with the Securities and Exchange Commission, which
important factors are incorporated herein by reference. IDX undertakes no
obligation to update forward-looking statements to reflect changed assumptions,
the occurrence of unanticipated events, or changes in future operating results,
financial condition or business over time.
ALLSCRIPTS CONTACT IDX SYSTEMS CONTACT
Ken Shore Margo Happer
Vice President - Marketing Director - Investor Relations
(847) 680-3515, ext. 200 (802) 864-1758, ext. 6169
e-mail: [email protected] e-mail: [email protected]
CHANNELHEALTH CONTACT
Tracey Moran
Director--Communications
(802) 863-5525, ext. 4272
e-mail: [email protected]
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