Allscripts (NASDAQ:MDRX) announced today the execution of a definitive agreement to sell its CarePort Health (“CarePort”) business to WellSky Corp., a global health and community care technology company. WellSky is jointly owned by two of the world’s largest 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, and approximately 21 times CarePort’s non-GAAP Adjusted EBITDA over the trailing 12 months. CarePort is included in Allscripts Data, Analytics and Care Coordination reporting segment and represents approximately 6% of Allscripts consolidated revenues. Reference should be made to the Allscripts quarterly earnings reports and supplemental financial data for a reconciliation of non-GAAP Adjusted EBITDA.
The transaction is