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Stock Alert: Allscripts Healthcare To Divest CarePort Health Biz For $1.35 Bln, Shares Up 30%

Shares of Allscripts Healthcare Solutions, Inc. (MDRX) jumped over 31% on Wednesday morning. Yesterday, after the bell, Allscripts announced that it has agreed to sell its CarePort Health business to WellSky Corp., a health and community care technology company, for $1.35 billion.

MDRX is currently trading at $10.90, up $2.59 or 31.14%, on the Nasdaq.

WellSky is jointly owned by private equity firms, TPG Capital and Leonard Green & Partners.

CarePort solutions assist hundreds of hospitals and thousands of post-acute care providers to efficiently coordinate and transition patients through different settings of care.

The agreed sale price of $1.35 billion represents a multiple of greater than 13 times CarePort's revenue over the trailing 12 months. The transaction is expected to close before the end of the year.

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