8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) April 24, 2009

ALLSCRIPTS-MISYS HEALTHCARE SOLUTIONS, INC.

(Exact name of registrant as specified in its charter)

Delaware	000-32085	36-4392754
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

222 Merchandise Mart, Suite 2024

Chicago, IL 60654

Registrant’s telephone number, including area code 1-866-358-6869

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01.     Regulation FD Disclosure.

Attached as Exhibit 99.1 hereto is an Investor Presentation dated April 2009, which is incorporated herein by reference.

This information is being furnished pursuant to Item 9 of this Report and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section and will not be incorporated by reference into any registration statement filed by Allscripts Healthcare Solutions, Inc. under the Securities Act of 1933, as amended, unless specifically identified as being incorporated therein by reference. This Report will not be deemed an admission as to the materiality of any information in this Report that is being disclosed pursuant to Regulation FD.

Please refer to page 2 of Exhibit 99.1 for a discussion of certain forward-looking statements included therein and the risks and uncertainties related thereto.

ITEM 9.01.     Financial Statements, Pro Forma Financial Information and Exhibits.

(d)	Exhibits:
99.1	Investor Presentation dated April 2009

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	ALLSCRIPTS-MISYS HEALTHCARE SOLUTIONS, INC.
Date: April 24, 2009	By:	/s/    William J. Davis
		William J. Davis
		Chief Financial Officer

3

EXHIBIT INDEX

The following exhibits are filed herewith:

Exhibit No.
99.1	Investor Presentation dated April 2009.

EX-99.1

Connect to Health™

Allscripts

Investor

Presentation

–

April

2009

Exhibit 99.1

2

Forward Looking Statements

This

communication

contains

forward-looking

statements

within

the

meaning

of

the

federal

securities

laws.

Statements

regarding

future

events,

developments,

the

Company’s

future

performance,

as

well

as

management’s

expectations,

beliefs,

intentions,

plans,

estimates

or

projections

relating

to

the

future

are

forward-

looking

statements

within

the

meaning

of

these

laws.

These

forward-looking

statements

are

subject

to

a

number

of

risks

and

uncertainties,

some

of

which

are

outlined

below.

As

a

result,

actual

results

may

vary

materially

from

those

anticipated

by

the

forward-looking

statements.

Among

the

important

factors

that

could

cause

actual

results

to

differ

materially

from

those

indicated

by

such

forward-looking

statements

are:

the

volume

and

timing

of

systems

sales

and

installations;

length

of

sales

cycles

and

the

installation

process;

the

possibility

that

products

will

not

achieve

or

sustain

market

acceptance;

the

timing,

cost

and

success

or

failure

of

new

product

and

service

introductions,

development

and

product

upgrade

releases;

competitive

pressures

including

product

offerings,

pricing

and

promotional

activities;

our

ability

to

establish

and

maintain

strategic

relationships;

undetected

errors

or

similar

problems

in

our

software

products;

compliance

with

existing

laws,

regulations

and

industry

initiatives

and

future

changes

in

laws

or

regulations

in

the

healthcare

industry;

possible

regulation

of

the

Company’s

software

by

the

U.S.

Food

and

Drug

Administration;

the

possibility

of

product-related

liabilities;

our

ability

to

attract

and

retain

qualified

personnel;

our

ability

to

identify

and

complete

acquisitions,

manage

our

growth

and

integrate

acquisitions;

the

ability

to

recognize

the

benefits

of

the

merger

with

Misys

Healthcare

Systems,

LLC

(“MHS”);

the

integration

of

MHS

with

the

Company

and

the

possible

disruption

of

current

plans

and

operations

as

a

result

thereof;

maintaining

our

intellectual

property

rights

and

litigation

involving

intellectual

property

rights;

risks

related

to

third-party

suppliers;

our

ability

to

obtain,

use

or

successfully

integrate

third-party

licensed

technology;

breach

of

our

security

by

third

parties;

and

the

risk

factors

detailed

from

time

to

time

in

our

reports

filed

with

the

Securities

and

Exchange

Commission,

including

our

2007

Annual

Report

on

Form

10-K

available

through

the

Web

site

maintained

by

the

Securities

and

Exchange

Commission

at

www.sec.gov.

The

Company

undertakes

no

obligation

to

update

publicly

any

forward-looking

statement,

whether

as

a

result

of

new

information,

future

events

or

otherwise.

3

1

The Story…

There is Now a Clear Market Leader…

–

150,000 Physicians

–

700 Hospitals

–

Top-Rated in All Product Categories

…

that is Strong and Stable

–

Revenue ~ $700mm

–

Electronic Health Records ~ $200mm

–

Revenue Cycle Management (Practice Management +

Claims Processing) ~ $400mm

–

Health System Solutions ~ $100mm

–

Recurring Revenue ~ $400mm

…

in a Growing Market

–

Market Size ~ $10b

–

Growth ~ 15-20% in EHR markets

1

2008 Year-End KLAS Report

4

The Time is Now…

5

Practice Automation is Critical to the Fix…

›

Increases the Quality of Care

›

Takes Costs Out

›

Increases Reimbursement

›

Improves Patient Safety

›

Increases Patient Satisfaction

6

1

The Path is Clear…

“We're investing in electronic medical records

and other technologies that can drive down

healthcare costs.”

-

President Barack Obama

“Cost savings from a mandatory requirement

that Medicare providers adopt and use HIT as

a condition of participating in the Medicare

program…savings total $34 billion over 10

years

from physicians and hospitals

.”

-

CBO

1

Congressional Budget Office – 12/08 – Budget Options Vol. I – Health Care 

7

$19 Billion New Reasons To Adopt NOW

$17 billion

+ $2 billion

= $19 billion

Physician Incentives

Incentive Bonuses from Medicare/Medicaid

HHS Discretionary Funds

Potential Areas Include: Standards Development,

Grants (AHRQ, HRSA, CMS), HIE Infrastructure,

Loans to the States for EHR, Regional HIT

Resource Centers, Telemedicine, Efficacy Studies

HHS = Health and Human Services

AHRQ = Agency for Healthcare Research and Quality

HRSA = Health Resources and Services Administration

CMS = Centers for Medicare and Medicaid Services

8

8

The Time is Now

›

Funding is Front Loaded

–

$30,000 (close to 70% of the funding) comes in the first two years

›

You Need to Demonstrate Meaningful Utilization

–

Purchase

and

Implementation

are

not

enough

-

you

must

use

it

›

Funding is Time Stamped

–

Incentives start in 2011, decrease over time and penalties begin

in 2015

9

EHR

Stimulus

Funding

$44,000

over 5 yrs.

+

PQRI

Incentive

$3,000 -

$5,000/yr.

estimate

+

ePrescribe

Incentive

$3,000-5,000/yr.

estimate

PQRI = Physician Quality Reporting Initiative

Wealth of Federal Incentives Available

If you start now . . .

10

›

< 20% Physician

Penetration

›

< 10% in Smaller

Groups

The Opportunity is Significant

The Electronic

Health Record

Revenue Cycle

Management

›

~10% to 20% of PM

Systems Replaced/Yr.

›

Allscripts 3

Largest

Claims Processing

Clearinghouse

+

Significant

Upside

›

Lower IT

Penetration than

Any Sector of

Economy

=

All Results in a $10+ Billion Market Opportunity

rd

11

›

150,000 MDs

and

700+ Hospitals

Across the U.S.

›

90,000 MDs

without

an EHR

›

~ $1B

Cross-Sell

Opportunity

A Great Place to Start …

Our Client Base

12

Why Allscripts Wins

›

Significant Footprint:

150,000 MDs, 700 Hospitals,

6,000 Post Acute Facilities, 600 Homecare Agencies

›

All Sizes and Settings:

Ambulatory and Acute,

Primary Care and Specialty, Small to Large

›

Diversified Portfolio:

Clinical and Business Solutions

›

All World-Class:

Top Rated Consistently

›

Significant Breakthroughs:

Innovation Comes Standard

›

Real Utilization:

Not Just Implementation

›

Strong ROI:

The Solution That Pays You Back

›

Delivering the Next Step:

Connect to Health 

TM

13

A Comprehensive Portfolio

Includes:

•

ePrescribe

•

Connect

•

Payerpath

•

Document Management

For physicians not yet

ready for an EHR

Includes Connected Physician, plus:

Enterprise and/or Professional EHR/ PM with connections

to commercial labs and imaging centers

For physicians ready

to become “Operable”

Includes Connected EHR, plus:

Connections to other physicians, hospital ED Systems, CM systems, HIS systems, Clinical trial

systems, CMS reporting, State reporting programs and RHIO’s

For Physicians Ready to “Connect to Health”

14

14

The Time is Now

›

Funding is Front Loaded

–

$30,000 (close to 70% of the funding) comes in the first two years

›

You Need to Demonstrate Meaningful Utilization

–

Purchase

and

Implementation

are

not

enough

-

you

must

use

it

›

Funding is Time Stamped

–

Incentives start in 2011, decrease over time and penalties begin

in 2015

15

A Simple Approach

Get it

Certified

Get it

Connected

Get it

Cool

Get it

Sold

Get it

Used

16

16

New Innovations Overview

17

The Allscripts Equation

Market Growth/Expansion Opportunity

+

Market Leadership

+  Innovation

+  Financial Stability

=  Strongest Player in an Expanding Market

18

Financial Overview

19

2009 Outlook

($ in millions unaudited pro forma)

Fiscal

Fiscal

Guidance

2008

2009

Bookings

$317.7

N/A

Revenue

$684.2

$675.0 to $680.0

Less: Prepackaged Meds

(1)

(41.9)

(40.0)

Clinical Software Revenue

$642.3

$635.0 to $640.0

Adjusted Earnings

$61.5

$76.0 to $82.0

Less: Prepackaged Meds

(3.3)

(3.2)

Clinical Software Adjusted Earnings

$58.2

$72.8 to $78.8

Adjusted Earnings Per Share

$0.39

$0.48 to $0.52

Share Count

(2)

151.0

151.0

(1)

Prepackaged

Meds

revenue

is

for

12

months

as

contemplated

in

original

guidance.

Proforma

Prepackaged

Medications

Revenue

for

the

9

months

ended

February

2009

was

$28.5m.

(2)

Consistent share count presented for comparability purposes.

20

Non-GAAP Net Income Potential

($ in millions unaudited pro forma)

Fiscal

Fiscal

2008

2009

Earnings Before Taxes, as reported

$57.5

$96.0 to $106.0

Taxes (Assumed 40% in 09 and 39% in 08)

(22.4)

($38.0 to $45.0)

Net Income

$35.1

$58.0 to $64.0

Adjustments: (tax adjusted @ 40% in 09 and 39% in 08)

Stock-Based Compensation

$5.4

$5.4

Deal-Related Amortization

14.0

12.6

One-Time Costs / Transaction Related Expenses

(1)

8.1

-

Prepackaged Meds

(3.3)

(3.2)

Physicians Interactive

(1.1)

-

Total Adjustments

$23.1

$14.8

Non GAAP Net Income

$58.2

$72.8 to $78.8

Non GAAP Net Income Growth

42%

25% to 35%

(1)

Note Fiscal Year 2009 guidance does not contemplate transaction related costs. Tax affected Transaction Related

Expenses for the 9 months to February 2009 were $19.6m.

21

Illustrative Revenue Sensitivity Analysis

Four Year Cumulative Penetration Rates

110,000

MDs

20%

Assumed EHR Penetration

88,000

Addressable EHR Market

20%

30%

40%

50%

60%

License/Service Fees

$165m

$248m

$330m

$410m

$495m

Annual Maintenance

$20m

$30m

$40m

$50m

$60m

22

Significant and Realizable Synergy Opportunity

›

Cost synergies of $20m+, pre-tax,

expected in first year following

transaction close

–

Up to $25m to $30m, pre-tax, in annual

cost savings within the next few years

–

Main drivers of cost synergies include:

R&D, Marketing, Sales, Administrative

Functions

›

Revenue synergies from cross-selling

into respective client bases is expected

to be ~$7m+ in FY 2009

›

Increased operating leverage expected

to result in mid teens EPS growth

Projected Cost Synergies

$20m+

$25 -

$30m

First Year

Run Rate

23

Capital Structure

(Shares in millions)

Ownership %

Allscripts

Outstanding Shares

63.0

41.7%

Allscripts

Shares Issued to Misys PLC

82.9

54.9%

Shares Underlying Remaining Debentures

2.5

1.7%

"In the Money" Options

2.4

1.6%

Unvested Restricted Stock Units

0.3

0.2%

Outstanding Equity as of Closing

151.1

100.0%

Estimated Number of RSU Grants in FY 2009

24

Summary

a

complete

portfolio

of

solutions…

for

practices

in

all

sizes/areas…

a

footprint

of

1

of

3

MDs

in

the

U.S.

Products

Target

Client Base