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) September 22, 2004
ALLSCRIPTS 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.) |
| 2401 Commerce Drive, Libertyville, Illinois | 60048 | |
| (Zip Code) |
Registrant’s telephone number, including area code 847-680-3515.
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 hereto is an investor presentation dated September 2004, 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 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. |
| (c) | Exhibits: |
| 99 | Investor Presentation dated September 2004 |
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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 HEALTHCARE SOLUTIONS, INC. | ||||||||
| Date: September 28, 2004 |
By: | /S/ WILLIAM J. DAVIS | ||||||
| William J. Davis Chief Financial Officer | ||||||||
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EXHIBIT INDEX
The following exhibit is filed herewith:
| Exhibit No. |
||
| 99 | Investor Presentation dated September 2004. | |
Exhibit 99
September 2004
1
2004 Allscripts Healthcare Solutions
Safe Harbor
or be about available it, may uncertainties. affect forward-looking statements Forward-looking may results and currently Because Allscripts its that actual in risks combining involve expressed forward-looking by uncertainties Allscripts’ that beliefs and assumptions. and predict, results contain Solutions developed risks the may are the does from of it Healthcare all ones different For a more complete discussion of the risks, uncertainties presentation statements predict the statements. and assumptions that may affect Allscripts, see the Company’s 2003 Annual Report on Form 10-K, available at www.sec.gov. This Allscripts These information with Allscripts’ statements do not guarantee future performance. cannot control materially
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2004 Allscripts Healthcare Solutions
What We Do & Who We Are . . .
We Provide Clinical Software, Connectivity & Information Solutions To Physicians
• MDRX) Employees (Nasdaq: Strength 340 Public Financial
• •
$123 Million in Cash Reserves $105 Million in 2004E Revenue Diversified/Multiple Revenue Streams The Leader in High Growth Markets
- -—-
Culture •
Fast Moving, Client-Focused and Innovative -
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2004 Allscripts Healthcare Solutions
Allscripts Executive Management/Experience
Glen Tullman, Chairman & Chief Executive Officer •
• ‘94 to ‘83 Inc Inc. Systems, Services, Enterprise Information CEO CCC
• 1997; COO,
• August &
• AHS President
• Joined ‘97; to 44, ‘94
Bill Davis, Chief Financial Officer •
• Senior ‘02; to ‘99 ‘99 to from ‘91 LLP Corporation Lante of CFO PricewaterhouseCoopers 2002; Group,
• October
• AHS Technology Joined Manager, 36,
Lee Shapiro, President •
• SES President ‘86 ‘00; to to ‘80 ‘98 Ferrazzano Elliman-Beitler Barack, Douglas with law COO 2000; Practiced
• April ‘98;
• AHS to ‘86 Joined Properties 48,
Joe Carey, Chief Operating Officer •
• Senior ‘98; ‘99; to ‘97 to ‘98 Company Home &
• HBO
• Shopping Group, COO, ‘97 to & Management ‘93 President Inc 1999; Resource Systems,
• April the of AHS President Enterprise
• Joined
• 46, Vice President,
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2004 Allscripts Healthcare Solutions
Our Vision
To Become an Indispensable Part of the Way Physicians Practice Medicine
Why? Physicians Control 80% of a $1.6 Trillion Annual Spend
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2004 Allscripts Healthcare Solutions
Our Solutions
™
TouchScript.NET
6
2004 Allscripts Healthcare Solutions
Automation: EMR Market Opportunity
• “Tipped” Market Has Billion Market
• $5 The •
< 25% Penetration of Mid to Large Size Groups 50% of Groups Purchasing in Next 18 Months*
– –
• and mo.
• 18 grow to to 12 size next ‘04 deal the Q2 over in average $500,000 range expect million also $5 We to $3 approximately grow. in was to deals size deal continues individual Average Pipeline include •
What Changed? •
• Expensive Technology Less Trends ROI) Better, Adopt To Patient Are Willingness PBM, Measurable Technology Payors, (Proven, & Tools Physician’s Political, Results
• – –
Market has Crossed the Chasm
•source: PricewatershouseCoopers Study
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2004 Allscripts Healthcare Solutions
Competitive Advantages Automation: TouchWorks EMR -
• Groups ROI Connections Large and and of Market 70% Adoption Solution to Rapid Return-On-Investment Our Ambulatory Access In Drives Role the Approach Sites Key Preferred Documented A Leading Alliance: Approach Independent, Reference Play & Physician-Centric IDX Modular Strong Partners Organizing
• • • • • •
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2004 Allscripts Healthcare Solutions
Results Automation: TouchWorks EMR -
• Use TouchWorks of TouchWorks Reports’ Year of Year Year Recommend the the of 52% EMR of First “Consumer in of Would Excess 96% the Ambulatory Competition Physician Practice Top Top $1,000,000 In KLAS, TEPR in for at HUG HUG
• Growth Satisfaction: #1 #1 Saves
• Sales Client Ranked Healthcare, Ranked Microsoft Microsoft CUMC
• • • • • •
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2004 Allscripts Healthcare Solutions
Results Automation: TouchWorks EMR -
$1.5 MM
$2.7 MM
$1.8 MM
$2.4 MM
$2.0 MM
$1.6 MM
$1.0 MM
$1.3 MM
$1.0 MM
218 Deals Worth $29.2 Million in 2003
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2004 Allscripts Healthcare Solutions
Results Automation: TouchWorks EMR -
$1.5 MM
$2.7 MM
$1.8 MM
$2.4 MM
$2.0 MM
$1.6 MM
$1.0 MM
$1.3 MM
$1.0 MM
$1.0 MM
218 Deals Worth $29.2 Million in 2003
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2004 Allscripts Healthcare Solutions
Automation: e-Prescribing Market Opportunity
3 Billion Prescriptions/Year Written on Paper in the US •
• today. electronically written 50% prescriptions approximately million 16 than processing Less AHS
Significant Backing from Payors •
• government care Federal Managed –
Impact Proven and Understood •
• compliance Study formulary IOM safety, generics, patient of on use Increased Improvement –
Entry point to broader opportunity •
• 2004) in million Impact.EMR $1.5
• (approx.
• TouchWorks transactions Suite: Full recurring to to Upgrade Access –
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2004 Allscripts Healthcare Solutions
Overview eRx - -Automation: TouchScript.NET™
• with ConnectiCare solution Independent launched RxHub at Capgemini and Programs e-Rx to targeted recently Cisco, used Rx’s Wellpoint of Market, HP, Automation widely Volume version, for Most #1 .NET Physician Microsoft, Selected Physician
• • •
• the large nation’s over other by the of organizations) involvement majority a Shield months Blue 18 significant (including Cross to Expect Payors 12 Blue next
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2004 Allscripts Healthcare Solutions
Opportunity
-
Information/Connectivity
The Opportunity •
• Billion/Year ~$250mm $15
• = Education Spend Product Marketing Online for Industry Market Pharma Current –
The Pharma Challenge •
• HVP’s Receptionist Time at 200,000 For End Minutes
• 2 Calls < Crunched Detail Last HVP’s Calls Educate/Influence = Pharma Detail = of of Goal Challenge 43% 50%
• – –
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2004 Allscripts Healthcare Solutions
Results
Information/Communication: Physicians Interactive -
• Other and e-Detailing of Provider Pioneer/Leading Solutions Online
Blue Chip Client Base •
• Companies Device Medical Companies & Biotech Pharmaceutical 10 Pharmaceutical, Top of
• 39 8 –
More Programs Delivered •
• Countries 8 Brands in
• 90 Programs for Programs International 350 59 –
Significant Footprint with Physicians •
60,000 Unique Physician Participants in U.S. > 250,000 Educational Sessions Completed
– –
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2004 Allscripts Healthcare Solutions
Results Medication: Allscripts Direct -
• Margin Centers Delivery Gross Health On-Site In Occupational Increases Employers Business in in Legacy Continued Strength Strength
• • •
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2004 Allscripts Healthcare Solutions
Financial Overview: AHS Revenue Growth Expected to Continue
$120 $100 $80 $60 $40 $20 $0
2004 (E) 2003 2002 2001
Growth Segments Medication Distribution Segment
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2004 Allscripts Healthcare Solutions
Financial Overview: Translating into Positive EPS Growth
$0.20 -$0.40
$0.07
2004 (E) 2003
2002
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2004 Allscripts Healthcare Solutions
as of June 30, 2004 (in millions)
Financial Overview: Backlog
$52.3 Million
$50 $40 $30 $20 $10 $0
$7.0 $11.1 $10.6 $23.6
TW Maintainance/ Support PI TW/TS Subscriptions TW/AIC License/ Implementation Fees
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2004 Allscripts Healthcare Solutions
as of June 30, 2004 (in millions)
Financial Overview: Financial Position
$54.7 $18.9 $39.5 $113.1
Total Assets Cash and Marketable Securities Accounts Receivable, Net Other Assets
$14.4 $12.4 $0.2 $27.0 $86.1 $113.1
Equity Total Liabilities Accounts Payable & Accrued Liabilities Deferred Revenue Equity Other Liabilities Stockholders’ Total Liabilities & Stockholders’
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2004 Allscripts Healthcare Solutions
The Debt Offering
Convertible Senior Debentures $75 million (excludes greenshoe of $7.5 million) July 15, 2024 5 5, 10 and 15 Share repurchase and general corporate purposes 3.50% 40% NC – 130% of conversion price Securities Offered: Offering Proceeds: Maturity: Coupon: Premium: Call Feature: Put Option(s): Contingent Conversion Feature: Use of Proceeds:
• • • • • • • • •
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2004 Allscripts Healthcare Solutions
Summary
• Markets Markets Growing Key Businesses in In All Advantage in Momentum Position Position Financial Leadership Sales Physician-Centric Competitive Strong Strong People
• • • • •
Line
Bottom
Well Positioned for Growth and Sustained Profitability
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2004 Allscripts Healthcare Solutions
Allscripts Healthcare Solutions
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2004 Allscripts Healthcare Solutions