Allscripts (MDRX) Nominates Three to Fill Board Seats
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Allscripts Healthcare Solutions, Inc. (Nasdaq: MDRX) and HealthCor Management, L.P., announced that Allscripts will nominate Stuart L. Bascomb, David D. Stevens and Randy Thurman as new independent directors for election to the Allscripts Board of Directors at the Company's 2012 Annual Meeting of Stockholders scheduled for June 15, 2012. All three are highly-qualified professionals with significant expertise in the healthcare industry, each having previously served on the boards of directors of public companies and private organizations.
Allscripts and HealthCor also announced that, pursuant to their agreement, HealthCor will withdraw its claims against the Company currently pending in the Court of Chancery for the State of Delaware and will vote for all of the Company's nominees at the 2012 annual meeting. HealthCor currently owns approximately 6.1% of the outstanding shares of Allscripts' common stock.
Arthur B. Cohen, co-founder and Portfolio Manager of HealthCor, said, "We are pleased to have reached this amicable resolution with Allscripts, which we believe will serve the best interests of all stockholders. We continue to believe that Allscripts has great products, strong capabilities and a unique installed base of customers. Furthermore, we are confident that Stuart, David and Randy will make strong additions to the Board, and will work hard to represent all stockholders and assist the Company in seizing the tremendous market opportunity before it."
In addition to the three new independent nominees, the Company's nine-member slate for election at the 2012 annual meeting will consist of: Paul Black, Dennis Chookaszian, Robert Cindrich, Philip Green, Michael Kluger and Glen Tullman. Of the nine board members, eight are independent.
Stockholders of record as of April 24, 2012 are entitled to vote at the Annual Meeting.
Allscripts and HealthCor also announced that, pursuant to their agreement, HealthCor will withdraw its claims against the Company currently pending in the Court of Chancery for the State of Delaware and will vote for all of the Company's nominees at the 2012 annual meeting. HealthCor currently owns approximately 6.1% of the outstanding shares of Allscripts' common stock.
Arthur B. Cohen, co-founder and Portfolio Manager of HealthCor, said, "We are pleased to have reached this amicable resolution with Allscripts, which we believe will serve the best interests of all stockholders. We continue to believe that Allscripts has great products, strong capabilities and a unique installed base of customers. Furthermore, we are confident that Stuart, David and Randy will make strong additions to the Board, and will work hard to represent all stockholders and assist the Company in seizing the tremendous market opportunity before it."
In addition to the three new independent nominees, the Company's nine-member slate for election at the 2012 annual meeting will consist of: Paul Black, Dennis Chookaszian, Robert Cindrich, Philip Green, Michael Kluger and Glen Tullman. Of the nine board members, eight are independent.
Stockholders of record as of April 24, 2012 are entitled to vote at the Annual Meeting.
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