Allscripts changes course, spikes potential sale and names new CEO
Electronic health records maker Allscripts takes a hard dive on Wall Street after replacing its CEO and announcing that the company is no longer up for sale.
Electronic medical records company Allscripts (NSDQ:MDRX) is struggling to recover from a Wall Street dive after news of a CEO swap and decision to stop pursuing a possible sale send shares tumbling this week.
The Chicago-based company announced that it fired long-time CEO Glen Tullman, replacing him with Paul Black, former COO for Cerner Corp., who was already a member of the board of directors.
In conjunction with the swap, Allscripts also announced that the board had "concluded its evaluation of strategic alternatives" and decided that the company was no longer for sale.