July 24, 2007 – In an attempt to rebalance its Healthcare portfolio, Misys plc announced it is disposing of businesses that are not consistent with its strategy.
“Our strategy in Healthcare is to focus on our core competency in the ambulatory space. These disposals rebalance our portfolio and enable us to accelerate execution of our strategy. In addition we have signed commercial agreements with the purchasers that open new distribution channels for our solutions and support our strategy of connecting communities in the higher growth ambulatory sector, ” said Mike Lawrie, Misys plc Chief Executive.
- Misys will sell its Diagnostic Information Business to Vista Equity Partners. The Diagnostic Information Business is a supplier of systems that automate the processes of hospital departments by managing and classifying large volumes of clinical data. Due to its size, this disposal is a Class 1 transaction under the UK Listing Rules and therefore requires the approval of Misys Shareholders. Approval will be sought at an Extraordinary General Meeting (EGM), notice of the EGM, and a related Circular, will be sent to shareholders in due course.
- Misys has agreed to sell its CPR Business, an enterprise-wide computerized patient record and electronic health record system to QuadraMed Corp.
- Misys will enter into commercial agreements with both purchasers, who will act as re-sellers of Misys Connect, the Misys technology that connects hospitals with physicians and other venues of care in the healthcare market. Vista will also market the Misys Electronic Medical Record (EMR) product as their preferred EMR solution for ambulatory physicians. The commercial agreements will come into effect following completion of each transaction.
For more information: www.misys.com