February 11, 2009 (FinancialWire) -- Allscripts-Misys Healthcare Solutions, Inc. (NASDAQ: MDRX) (Current Market Cap: US$1.18 Bil.) said that its board has approved a stock repurchase program under which Allscripts may purchase up to $150 million of its common stock over the next two years.

The company has entered into a stock repurchase agreement with Misys plc and certain of its affiliates under which Misys has agreed to participate in the repurchase program by selling to Allscripts the number of shares of Allscripts common stock needed to keep Misys' ownership percentage in Allscripts unaffected by the open market repurchases.

Repurchases of Misys' stock will be made at the weighted average price at which repurchases are made by Allscripts under the open market plan.

Allscripts also said it has entered into an amendment and restatement of its credit facility agented by JPMorgan Chase Bank, which increases commitments under the facility by $50 million to $125 million and adds Fifth Third Bank as syndication agent and co-lead arranger. The credit facility also may be expanded by an additional $25 million to $150 million. The initial interest rate on the Credit Facility is expected to be LIBOR plus 2.0%.

Chicago-based Allscripts offers electronic health record, electronic prescribing, revenue cycle management, practice management, document management, medication services, hospital care management, emergency department information systems and homecare automation.

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