Private equity firms Carlyle Group LP, Blackstone Group LP and TPG Capital LP are bidding for Allscripts Healthcare Solutions Inc, a healthcare technology company exploring a sale, people familiar with the matter said this week. These takeover firms submitted second-round offers on Friday, a day after Allscripts reported weak quarterly earnings, and following meetings with the company's management last month, the four sources said this week. They asked not to be named because details of the auction are not public.Allscripts, which has a market value of around $2 billion, has asked for a substantial premium to its current trading prices, and there is no guarantee that a deal will be reached, the people said.The private equity bidders are in continuing due diligence and any decision is still weeks away, they said.A few other buyout firms that also looked at Allscripts, including Bain Capital LLC, have decided not to pursue a deal partly because of the company's high price expectations and management turmoil, the people said.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 0.07% or $0.01/share to $14.41. In the past year, the shares have traded as low as $11.13 and as high as $17.25. On average, 2641940 shares of BX exchange hands on a given day and today's volume is recorded at 1890804.
Shares of CG fell by 1.69% or $-0.44/share to $25.55. In the past year, the shares have traded as low as $20.00 and as high as $27.90. On average, 106131 shares of CG exchange hands on a given day and today's volume is recorded at 43773.
Allscripts Healthcare Solutions, Inc. (Allscripts) is a provider of clinical, financial, connectivity and information solutions and related professional services to hospitals, physicians and post-acute organizations. Shares of MDRX traded higher by 1.96% or $0.24/share to $12.50. In the past year, the shares have traded as low as $8.84 and as high as $21.66. On average, 3400220 shares of MDRX exchange hands on a given day and today's volume is recorded at 4233865.
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