Veradigm (US:MDRX)2021-01-19 21:43Financial Performance & Strategy - Allscripts reset its priorities in 2020, focusing on client needs, cost base, portfolio, and balance sheet/capital structure[3] - The company expects approximately 730 basis points of Adjusted EBITDA margin improvement since 1Q20[5] - Allscripts is targeting $90 million to $100 million of Free Cash Flow in 2021[13] - The company aims for a long-term leverage ratio of approximately 1.5x Adjusted EBITDA[7] Portfolio Restructuring - Allscripts sold CarePort for $1.35 billion, which is over 13x trailing revenue and approximately 21x trailing Adjusted EBITDA[6] - The company also sold EPSi for $365 million, about 7.5x trailing revenue and roughly 18.5x trailing Adjusted EBITDA[6] - The after-tax proceeds from these sales are approximately $1.25 billion[6] Veradigm Growth Platform - Veradigm's unique data assets, analytics, and connectivity provide a competitive advantage[12] - Veradigm has a profitable and scalable foundation with opportunities for margin improvement and efficiencies, primarily through recurring, subscription, and transactional revenue[12] Capital Allocation - Allscripts repurchased $280 million of stock in 2020 through open market and accelerated programs and expects to repurchase a significant amount in 2021[7] COVID-19 Response - Allscripts supported clients through COVID-19 response and recovery, according to Reaction Data[5]