(RTTNews) – Shares of Allscripts Healthcare Solutions, Inc. (MDRX) jumped over 31% on Wednesday morning. Yesterday, after the bell, Allscripts announced that it has agreed to sell its CarePort Health business to WellSky Corp., a health and community care technology company, for $1.35 billion.
MDRX is currently trading at $10.90, up $2.59 or 31.14%, on the Nasdaq.
WellSky is jointly owned by private equity firms, TPG Capital and Leonard Green & Partners.
CarePort solutions assist hundreds of hospitals and thousands of post-acute care providers to efficiently coordinate and transition patients through different settings of care.
The agreed sale price of $1.35 billion represents a multiple of greater than 13 times CarePort’s revenue over the trailing 12 months. The transaction is expected to close before the end of the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.