Misys of Worcestershire, U.K. has agreed to buy Tucson, AZ-based Sunquest Information Systems. Misys, a healthcare and financial software developer, has made a cash tender offer for all of Sunquest’s common stock at a price point of $24 (U.S.) per share.
Misys will finance the acquisition with a new credit facility and from its existing cash resources. The companies expect the tender offer to close in approximately 30 days. Once the acquisition is completed, Sunquest will become a wholly owned subsidiary of Misys and will remain headquartered in Tucson.
Misys first entered the U.S. healthcare market in November 1997 with the acquisition of Medic Computer Systems, a physician practice-management software developer. Since then, the company has continued its foray into the healthcare sector with a Healtheon/WebMD alliance in January 2000. The Sunquest deal represents Misys’ first entry into the RIS arena.
By AuntMinnie.com staff writersJune 25, 2001
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