Science & Technology
Science and Technology
Science and Technology
Mon, January 5, 2009
Fri, January 2, 2009
Wed, December 31, 2008 Eclipsys Signs Definitive Agreement to Acquire Premise, Patient Flow Solutions Leader
ATLANTA & FARMINGTON, Conn.--([ BUSINESS WIRE ])--Eclipsys Corporation® (NASDAQ: ECLP), The Outcomes Company®, and Premise Corporation today announced the signing of a definitive agreement for Eclipsys to acquire all of the outstanding equity interests of Premise, a privately held industry leader in patient flow software solutions.
The agreement among Eclipsys, an acquisition subsidiary of Eclipsys, Premise, and certain stockholders of Premise, dated December 30, 2008, provides for a purchase price of $38.5 million cash, subject to certain holdback escrow provisions and working capital adjustments. The transaction has been approved by the Boards of Directors of Eclipsys and Premise and is expected to close within next 15 days, subject to satisfaction of customary closing conditions.
About Premise
Premise is a leading provider of integrated and clinically focused software solutions and services that optimize patient flow, streamline communications, enhance operational efficiency, and empower knowledge-based decision-making. Driven by the vision that optimized delivery of healthcare services can be realized through the widespread use and visualization of real-time operating data, Premise delivers the industry's most intuitive systems for bed management, bed turnover, transport and decision support. In 2008, Premise's bed management and patient throughput solutions received the exclusive endorsement of the American Hospital Association (AHA). For more information, call (800) 396-5578 or visit [ www.PremiseUSA.com ].
About Eclipsys
Eclipsys is a leading provider of advanced integrated clinical, revenue cycle and business process improvement software, clinical content and professional services that help healthcare organizations improve clinical, financial and operational outcomes. For more information, see [ www.eclipsys.com ] or email [ info@eclipsys.com ].
Forward-looking Statements
Statements in this news release concerning the anticipated closing of the acquisition and features and use of Premise solutions are forward-looking statements and actual results may differ from those projected due to a variety of risks and uncertainties. Closing of the transaction is subject to certain conditions that may not be met. More information about Eclipsys company risks is available in recent Form 10-K and other filings made by the company from time to time with the Securities and Exchange Commission. Special attention is directed to the portions of those documents entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Eclipsys Corporation and The Outcomes Company are registered trademarks of Eclipsys Corporation. Other product and company names in this news release are or may be trademarks and/or registered trademarks of their respective companies.
