Buyback Wednesdays – Veradigm (Allscripts) Announces a $250 Million Share Buyback

Buyback activity remained muted for the second consecutive week of January with only eight companies announcing buybacks last week.

The company that topped our list is a healthcare technology company, Veradigm Inc. (MDRX). The company, formerly known as Allscripts, delivers information technology solutions and services to healthcare organizations across the globe. Its clients include healthcare providers, patients, hospitals, physician clinics, retail pharmacies, pharmacy benefit managers, insurance companies, health plan providers and life sciences industries.

Allscripts provides a group of software services across a number of sectors. The company provides Electronic Health Records (EHR) services through its various solutions. In October 2021, the company partnered with NextGen Healthcare, Inc. (NXGN) to enable Veradigm AccelRx (a medication fulfillment platform designed to help cut time-to-fill for specialty drugs) integration within NextGen Enterprise EHR by mid-2022.

Its Veradigm platform provides actionable data insights and workflow solutions for life sciences industries. It connects over 300,000 US healthcare providers via the Veradigm Network. Its FollowMyHealth service is a patient engagement platform.

With the acquisition of Athenahealth by Veritas Capital in 2019 and the acquisition of Cerner by Oracle last year, there are very few publicly traded EHR software companies.

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