Allscripts entered into a definitive agreement to acquire San Francisco-based EHR provider Practice Fusion for $100 million in cash, the company confirmed Jan. 8.
Allscripts officials plan to fund the $100 million purchase through existing secured credit facilities and cash balances, subject to adjustment for working capital and net debt. Officials have targeted the first quarter of 2018 to close the transaction.
The acquisition of Practice Fusion's cloud-based EHR expands Allscripts' client reach with roughly 30,000 ambulatory physician practices, according to Allscripts officials. Under the agreement, Practice Fusion clients will also have access to Allscripts' solutions and services.
"By adding Practice Fusion offerings to our portfolio, Allscripts will be further positioned for continued growth and long-term leadership in healthcare," said Rick Poulton, president of Allscripts. "Practice Fusion's affordable EHR technology supports traditionally hard-to-reach independent physician practices, and its cloud-based infrastructure aligns with Allscripts forward vision for solution delivery."