With the fallout of the news of the crash at Lehman Brothers, the merger of Chicago-based Allscripts Healthcare Solutions Inc. with Raleigh, N.C.-based Misys Healthcare Systems LLC is taking another path.
According to Misys, Lehman Brothers had committed to a $305 million term and revolving credit with the company in order to fund a portion of the payment by Misys to Allscripts. In a recent statement, Misys explained that as the company is not able to ascertain whether Lehman Brothers will be able to fulfill its role in the deal, Misys has begun the process of looking for alternative funding and is in discussion with several debt providers. Misys says because its existing debt financing is not sourced from Lehman, it is not affected.
Though Misys continues to support the merger, its board will postpone a meeting to approve the transaction from Sept. 22 to Oct. 6.