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According to Piper Jaffray, Allscripts
MDRX announced that John Gomez (
CTO) will leave the company effective May 31st but will remain as a consultant for 18 months.
Piper Jaffray reported that it believes that John is the key executive to drive MDRX-ECLP technology/product integration and his departure further increases our integration concerns that are common with rollups. “The company also announced debt restructuring ($5m/yr interest savings) and a strategic outsourcing agreement ($3-$5m/yr savings), which could push estimates higher. While cost savings/synergies are great, we see John's departure concerning. Maintain Neutral, $22 target.”
Allscripts closed yesterday at $22.49.
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Posted In: Analyst ColorAnalyst RatingsallscriptsFinancialsHealth CareHealth Care TechnologyPiper JaffrayReal Estate Management & Development
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