Amisys to be acquired by HBO & Co.

Maryland Watch

February 12, 1997

HBO & Co., which makes patient care, clinical and financial software, has agreed to acquire Rockville-based Amisys Managed Care Systems Inc. in a stock deal worth about $159.4 million, the companies said yesterday.

Under the definitive agreement, Amisys shareholders would receive 0.35 of an HBO common share for each share of Amisys. Amisys shares jumped $4 to $19.875, while HBO fell $4.063 to $58.813 on the Nasdaq Stock Market yesterday.

Amisys develops information systems for providers of managed health care products and services.

Amisys said the deal is scheduled to close during the second quarter.

In addition to creating software, Atlanta-based HBO offers networking technologies and other services to health care providers in the United States, Britain, Canada, Australia and New Zealand.

Separately, Amisys said its net income almost doubled to $1.67 million, or 20 cents a share, in the quarter ended Dec. 31 from $853,000, or 14 cents a share, in the year-ago period.

Revenues grew 66 percent to $14.3 million from $8.6 million.

Pub Date: 2/12/97

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