Misys Agrees to Acquire Market-Leading Clinical Software from Per-Se Technologies Inc
Misys plc, the global software products and solutions company, today announces that Misys Healthcare Systems, has signed an Asset Purchase Agreement with Per-Se Technologies, Inc. (Nasdaq: PSTI) to acquire the market-leading Computerized Patient Record/Computerized Physician Order Entry (CPR/CPOE) product line currently marketed as Patient1®. (See Notes to Editors for more information.) This product line had revenues of approximately US$25 million in calendar year 2002. The transaction is expected to have a neutral impact on earnings in the year to May 31, 2004 before one-off integration costs, which will be incurred during the first year of ownership. Further details will be provided on 17 July 2003 during the Group’s preliminary results presentation for the year ended 31 May 2003.
Under the terms of the agreement and pending final transaction closing, Misys Healthcare Systems will assume support agreements for the extensive base of Patient1 clients and will develop, market and support the products as Misys CPR™ and Misys CPOE™. Misys will also assume ownership of Decision1®, the clinical data warehousing and advanced reporting tool companion to Patient1.
New and existing clients will benefit greatly from the strategic fit created when the Misys CPR™ and Misys CPOE™ product line is paired with proven Misys clinical departmental products, Misys EMR™ and Misys homecare solutions. By design, Misys CPR™ will house data from all care venues to create a true longitudinal patient record. This means caregivers—regardless of the venue they work in—will gain greater efficiencies and the necessary tools to easily manage the complexities of healthcare.
Misys CPR™ and Misys CPOE™ has achieved significant market recognition through a solid client base, numerous awards, positive reviews and high marks from credible industry sources including KLAS, Gartner Group, and TEPR. Because Misys CPOE™ has more physician users than any other acute care product, physicians can expect this robust, industry-leading solution to truly meet their needs and improve clinical quality and efficiency.
Commenting upon the asset purchase agreement, Tom Skelton, CEO of Misys Healthcare Systems said.
“Misys Healthcare Systems and Patient1 are clinical software leaders with deep roots in healthcare IT and long, successful histories of innovation, trusted partnerships and outstanding service. This development illustrates our commitment to delivering best of breed clinical information systems to caregivers everywhere. We have now broadened our reach to create efficiencies, contain costs and enhance care in the hospital setting, physician’s office and patient’s home.”
“Misys Healthcare Systems and Patient1 are clinical software leaders with deep roots in healthcare IT and long, successful histories of innovation, trusted partnerships and outstanding service. This development illustrates our commitment to delivering best of breed clinical information systems to caregivers everywhere. We have now broadened our reach to create efficiencies, contain costs and enhance care in the hospital setting, physician’s office and patient’s home.”
Andrew Lawson, President of Misys Healthcare Systems – Hospital Systems business unit, added:
“Our clients will be thrilled to hear that we are developing and integrating the Misys CPR™ and Misys CPOE™ systems into our product portfolio. Now they will be able to modernize and grow their enterprise clinical IT platform with an industry leader they already know and trust.”
“Our clients will be thrilled to hear that we are developing and integrating the Misys CPR™ and Misys CPOE™ systems into our product portfolio. Now they will be able to modernize and grow their enterprise clinical IT platform with an industry leader they already know and trust.”
“Patient1™ clients will benefit from this agreement as their support services are transitioned to Misys Healthcare Systems, a well-respected industry leader known for its outstanding support, high client satisfaction and long-standing commitment to product development and quality. Clients may leverage existing investments, while adopting integrated clinical IT solutions within the Misys clinical product portfolio.”
Notes to Editors
What is a CPR and how is CPOE different?
Patient1 is a computerised patient record (CPR) product line, a key module of which is its computerized physician order entry (CPOE) solution. A CPR is the electronic version of the patient record. It offers complete patient information to all clinicians across the entire hospital. It provides clinicians four basic abilities: 1.) document on-line the clinician-patient encounter; 2.) enter medical orders of all types for patients; 3.) view results of all such orders, including diagnostic tests, procedures and medications; and 4.) clinical decision support, often in the form of alerts, reminders and rules, which allow clinicians to make patient care decisions in an intelligent manner based on accurate, up to date information.
What is a CPR and how is CPOE different?
Patient1 is a computerised patient record (CPR) product line, a key module of which is its computerized physician order entry (CPOE) solution. A CPR is the electronic version of the patient record. It offers complete patient information to all clinicians across the entire hospital. It provides clinicians four basic abilities: 1.) document on-line the clinician-patient encounter; 2.) enter medical orders of all types for patients; 3.) view results of all such orders, including diagnostic tests, procedures and medications; and 4.) clinical decision support, often in the form of alerts, reminders and rules, which allow clinicians to make patient care decisions in an intelligent manner based on accurate, up to date information.
CPOE is essentially the physician version of these four functions. Since physicians work differently from nurses and other caregivers and due to their historical lack of adoption of information technology, CPOE functionality has evolved as a specialized product tailored to a physician’s specialty. CPOE allows doctors to document care, enter orders and view results but places much more emphasis on clinical decision support, often providing treatment guidelines based on the latest scientific evidence. Though from a technical perspective CPOE is part and parcel of the CPR product line, it is viewed from a market perspective as a separate (as well as large and growing) phenomenon in the US.
About Misys Healthcare SystemsMisys Healthcare Systems, a division of Misys plc, is among the top five healthcare IT companies in the United States. The company designs, develops, and supports a comprehensive suite of best of breed clinical information solutions for healthcare enterprises and currently serves more than 85,000 physicians, 1,200 hospitals, 600 home care providers and hundreds of commercial laboratories, clinics, managed services and other related organizations. For more information, visit www.misyshealthcare.com.
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Misys CPR and Misys CPOE are trademarks of Misys Hospital Systems, Inc. d/b/a Misys Healthcare Systems. Patient1® and Decision1® are a registered trademarks of PST Products, Inc. d/b/a Per-Se Technologies. Other trademarks or registered trademarks are the marks of their respective owners.
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Misys CPR and Misys CPOE are trademarks of Misys Hospital Systems, Inc. d/b/a Misys Healthcare Systems. Patient1® and Decision1® are a registered trademarks of PST Products, Inc. d/b/a Per-Se Technologies. Other trademarks or registered trademarks are the marks of their respective owners.
Enquiries:
Lisa J Newman
Head of Communications
Misys plc
Tel: +44 (0)207 368 2315
Email: lisa.newman@misys.co.uk
Lisa J Newman
Head of Communications
Misys plc
Tel: +44 (0)207 368 2315
Email: lisa.newman@misys.co.uk
About Misys plcMisys plc, the global software products and solutions company, serves customers in the international banking and securities, US healthcare, and UK retail financial services sectors. The group partners with its customers to deliver outstanding IT solutions to essential industries. For the year ended May 31, 2002, Misys reported revenues in excess of $1.5 billion. Misys employs more than 6,500 people internationally.
