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Allscripts Shares Open Down 42%, Epic Wins UK Deals

April 27, 2012 News 11 Comments

Allscripts shares opened Friday morning down 42% after yesterday’s financial and organizational announcements. My notes on the news and yesterday afternoon’s conference call are here.

In news from the UK, Cambridge University Hospitals and Papsworth Hospital NHS Foundation Trusts name Epic and HP as their preferred EHR vendor and are expected to sign a 10-year contract in June. Cerner and Allscripts were on the short list.

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Currently there are "11 comments" on this Article:

  1. No because the only thing you are gambling on is that the stock price will go low enough in the near future that it attracts sharks with a takeover/buyout (whatever marketing term pe firms want to use today).

    Wait. The stock is going to take on more water and head further south. If you have some cash lying around and aren’t afraid to let it sit for a while (not a hard thing to do in ZIRP world), then it becomes a ‘buy’ I would say at $6 or $6.50 or so gambling they get bought in the next year or so bringing a nice return. Really a pure gamble though & shouldn’t do that unless you have the cash sitting around.

  2. Logic predicted the hard and fast fall of Allscripts. On first hand knowledge, management was a “snake pit”.

    You can’t make money buying big companies in acute care IT who are fledgling off a physician practice EMR business model.

    Sooner or later, the rooster come home…

    Glenn has a short shelf life now.

  3. This is truly a prime example of unprofessional executives thinking of themselves and destroying a lucrative business. Wake up! This not only affects you Allscripts/Eclipsys. It affects the hospital executives who believed in you and your products. Our jobs are on the line. But most importantly what we are all in this business for remember?? The delivery of software to ensure the highest level of outcomes for the well-being of the patient.

  4. Dear ‘Keeping it real’,

    Do ya really think Glenn, knowing all his history, is about improving patient care and outcomes?

    Not a single thing Allscripts has done impacts that goal in a positive way.

    His focus is on shareholder value and profit. Period end of story.

    …lets be ‘real’ here.

  5. Most likely it’s the beginning of the bubble bursting now that it’s clear that providers are beginning to ignore the meaningful use mandates. Quality Systems Inc (QSII) stock price has also fallen in the past month some 16%. Athenahealth (ATHN) stock price is flat while Cerner and CPSI stock prices have increased suddenly on Friday some 4-5% in reaction to the news.

    It will be interesting to see how these companies fare in the coming summer months.

    Stock graphs:

    http://finance.yahoo.com/q/bc?s=MDRX+Basic+Chart&t=1y
    http://finance.yahoo.com/q/bc?s=QSII+Basic+Chart&t=1y
    http://finance.yahoo.com/q/bc?s=ATHN+Basic+Chart&t=1y
    http://finance.yahoo.com/q/bc?s=CERN+Basic+Chart&t=1y
    http://finance.yahoo.com/q/bc?s=CPSI+Basic+Chart&t=1y

  6. A) glen cares about patients. He really does.
    B) Glen and Lee Shapiro and a few others (McGraw,Carey) in the senior team don’t know how to run a big company. Passion and intelligence only get you so far. Process and discipline are necessary components.. And these two left with Eileen McPartland.. The last of Mike Lawrie’s team to leave. When Eileen left, the writing was on the wall.

    With a strong COO, this can all turn around. Time will tell if Glen has the guts to kill off some of his inner circle and replace them with some adults. If so, he and the company will survive well. If not… I hate to think about what might happen.

  7. Well it seems Allscripts did me a favor when they laid me in 2010 shortly after the merger with Eclipsys. I see what goes around really does come around.







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