Veradigm Announces New Share Repurchase Program and Initial Financial Guidance for Fiscal 2023
12 January 2023 - 12:01AM
Business Wire
Veradigm Inc. (NASDAQ: MDRX), formerly Allscripts Healthcare
Solutions, Inc., announced today that its Board of Directors has
approved a new share repurchase program under which Veradigm may
purchase up to $250 million of its common stock. The new share
repurchase program does not have a termination date and replaces
the previous authorization to repurchase $250 million of common
stock which was almost fully utilized during 2022. In the fourth
quarter of 2022 Veradigm repurchased $57 million of its common
stock, bringing its full year total to $234 million.
The company also introduced initial financial guidance for
Fiscal 2023 as follows:
- Revenue is expected between $640 million and $660 million
- Non-GAAP earnings per share is expected between $0.90 and
$1.00
The company will report its financial results for the three and
twelve months ended December 31, 2022 after the close of the
regular stock market hours on Thursday, February 23, 2023. Veradigm
management plans to host a conference call and webcast to discuss
the company’s earnings at 4:30 p.m. Eastern Time that same day.
To listen to the conference call, participants may log onto the
Veradigm Investor Relations website. Participants also may access
the conference call by dialing 877-269-7756 or 201-689-7817 and
requesting Conference ID # 13735356.
A replay of the call will be available for a period of a year on
the Veradigm investor relations website.
About Veradigm®
Veradigm is a healthcare technology company that drives value
through its unique combination of platforms, data, expertise,
connectivity, and scale. The Veradigm Network features a dynamic
community of solutions and partners providing advanced insights,
technology, and data-driven solutions, all working together to
transform healthcare insightfully. For more information on
Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn,
Facebook, Twitter, and YouTube
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding our 2023 outlook. These
forward-looking statements are based on the current beliefs and
expectations of Veradigm management, only speak as of the date that
they are made and are subject to significant risks and
uncertainties. Such statements can be identified by the use of
words such as “future,” “anticipates,” “believes,” “estimates,”
“expects,” “intends,” “plans,” “predicts,” “will,” “would,”
“could,” “can,” “may,” “look forward,” “pipeline,” “aim” and
similar terms. Actual results could differ significantly from those
set forth in the forward-looking statements and reported results
should not be considered an indication of future performance or
events.
Certain factors that could cause our actual results to differ
materially from those described in the forward-looking statements
include, but are not limited to: our ability to achieve the growth
strategy, if at all; security breaches resulting in unauthorized
access to our or our clients’ computer systems or data, including
denial-of-services, ransomware or other Internet-based attacks;
investigations and proceedings from governmental entities or third
parties other than the DOJ related to the same or similar conduct
underlying the DOJ’s prior investigations into Practice Fusion’s
business practices; our ability to recover from third parties
(including insurers) any amounts paid in connection with Practice
Fusion’s settlement agreements with the DOJ and related inquiries;
risks associated with the disposition of our Hospitals and Large
Physician Practices Business; the expected financial results of
businesses acquired by us; the successful integration of businesses
acquired by us; the anticipated and unanticipated expenses and
liabilities related to businesses acquired by us, including the
civil investigation by the U.S. Attorney’s Office involving our
former Enterprise Information Solutions business; other risks
associated with investments and acquisitions; our failure to
compete successfully; consolidation in our industry; current and
future laws, regulations and industry initiatives; increased
government involvement in our industry; the failure of markets in
which we operate to develop as quickly as expected; our or our
customers’ failure to see the benefits of government programs;
changes in interoperability or other regulatory standards; our
ability to maintain and expand our business with existing clients
or effectively transition clients to newer products; market
acceptance of our products and services; our ability to manage
future growth; our ability to introduce new products and services;
our ability to establish and maintain strategic relationships; the
performance of our products; our ability to protect our
intellectual property rights; the outcome of legal proceedings
involving us; our ability to hire, retain and motivate key
personnel, including the impact of generalized labor shortages;
performance by our content and service providers; liability for use
of content; price reductions; our ability to license and integrate
third-party technologies; risks related to global operations;
variability of our quarterly operating results; risks related to
our outstanding indebtedness; changes in tax rates or laws;
business disruptions; our ability to maintain proper and effective
internal controls; asset and long-term investment impairment
charges; and inflationary pressures and macroeconomic volatility,
including impacts related to the COVID-19 pandemic. Additional
information about these and other risks, uncertainties, and factors
affecting our business is contained in our filings with the
Securities and Exchange Commission, including under the caption
“Risk Factors” in our most recent Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Qs. We do not undertake to
update forward-looking statements to reflect changed assumptions,
the impact of circumstances or events that may arise after the date
of the forward-looking statements, or other changes in our
business, financial condition or operating results over time.
© 2023 Veradigm Inc. and/or its affiliates. All rights
reserved.
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version on businesswire.com: https://www.businesswire.com/news/home/20230111005248/en/
Investors: Jenny Gelinas
312-506-1237 jenny.gelinas@veradigm.com
Media: Concetta Rasiarmos
312-447-2466 concetta.rasiarmos@veradigm.com
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