Veradigm Inc.

Greetings and welcome to Allscript's fourth quarter full year 2021 earnings conference call. At this time, all participants are on a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would like to turn the conference over to your host, Jenny Gelinas. Thank you. You may begin.

Thank you very much. Good afternoon, and welcome to the Allscript's fourth quarter 2021 earnings conference call. Our speakers today are All Black, Allscript's chief executive officer, and Rick Poulton, our president and chief financial officer. We'll be making a number of forward-looking statements during the presentation and the Q&A part of the call. These statements are based on current expectations and involve a number of risks and uncertainties that could cause our actual results to vary materially. We undertake no obligation to revise these forward-looking statements in light of new information or future events. Please refer to our earnings release and SEC filings for more information regarding the risk factors that may affect our results. Please reference the GAAP and non-GAAP financial statements as well as the non-GAAP tables in our earnings release and the supplemental workbook that are both available on our investor relations website. And with that, I'm going to hand over the call to Paul Black.

Thanks, Jenny. Good afternoon and thank you all for joining us today. I'd like to start by recognizing my colleagues at Allscripts for delivering such strong results. I want to thank our associates who've continued to demonstrate what it means to be All In. This spirit has driven us forward to success despite all the bizarre, unprecedented, and certainly unplanned events that have occurred over the past two years. Looking back over the past 24 months, globally we have experienced what we hope to be a once-in-a-lifetime event. We began 2020 like everyone, blindsided by the global pandemic, but needing to quickly respond to our clients' and our associates' needs. We had a massive pivot during the course of February through June of 2020. There was a substantial amount of work performed, a great focus on unique programs and new ways of running the business. The outcomes we discussed today were created by all the dedicated Allscripts associates. Nowhere, however, where the changes to the daily life fell more directly than with clients who serve on the front lines of pandemic. And in the research labs where the scientists were studying clinical trial results in an effort to safely but rapidly create a vaccine that would cure the pandemic. Working from home became the norm for most of the functions inside of our business. Supporting, selling, collecting, installing, running, operating, and upgrading our solutions across all clients across the globe. They all moved to remote virtual environment in most cases, except for the people that were onsite at client that are part of the managed services organizations. Those were two difficult years. I'm very proud of this executive management team and our ability to see through the fog, making the decisions to position Allscripts for the success we are now all collectively realizing. We invested in the core. focused on creating value and on unlocking value. One year ago, we discussed the prior year of reset at Allscripts, where we reset our client priorities, reset our cost base, reset our portfolio, and reset our balance sheet and capital structure. We also highlighted our 2021 priorities, focusing on delivering. And this team has delivered consistent results. Executing the plan on the Allscripts financial flywheel, our performance delivered as advertised. Highly recurring revenue, significant improved adjusted EBITDA margins, improved free cash flow conversion, and a continuous focus on returning capital while investing for growth in the existing business. I'm pleased with the solid 2021 full-year results, which continue the forward momentum at Allscripts into 2022. We've made multiple investments over the years to create strategic platforms to distinguish all scripts and make us relevant in today's marketplaces. These EMR agnostic platforms expand the breadth and the depth of our solution portfolio. Rick will highlight how these investments in payer, data analytics, life sciences, and research marketplaces reflect the relevance that we have established around the globe. These investments were supported by our board and remain strategically important to us and clearly have allowed us to reposition the company to where we are today. We've also continued to make deliberate investments in our core EMR platforms. This has driven cross-sell opportunities in hosting, cloud, telemed, cyber, interoperability, white space, outsourcing, and revenue cycle. A few highlights for the fourth quarter. In the United Kingdom, Medway NHS Foundation Trust agreed to expand its Allscripts patient administration system footprint by deploying Sunrise Clinicals. Its aim was to deploy the solution faster than any other UK client with a phase one to be live before the end of 2021. Our collective teams met that challenge in a COVID altered virtual deployment that was completed in just under five months. Medway NHS Foundation Trust is now live with Sunrise version 21.1. They documented more than 1500 clinical notes in the first 24 hours of deployment. Also in the United Kingdom, the premier cardiac trust, Liverpool Heart and Chest, has achieved HIMSS Level 6 designation. As our first HIMSS Stage 6 client in the United Kingdom, this is a major milestone for our company and a significant achievement for the teams who have supported this Liverpool trust throughout the journey through patient safety and full digitization. Our longtime client, Northwell Health, expanded its partnership with Allscripts by selecting Sunrise perioperative solution for their 20 hospitals. Our solution will be replacing SIS, a third-party point solution. All of these wins are important examples of investment in the core that create a white space opportunities for Allscripts and deliver a single unified patient record for our clients. Investments that expand our addressable market and simplify business for the client. SUNY Downstate in Brooklyn signed a migrate to Azure Cloud and Sunrise Platform of Health. Moving to the cloud allows SUNY to participate in lower cost of ownership while also improving EHR experience for their clinicians and patients. A long-term client, Ginny Stewart Health, a community hospital in Kentucky, signed to move to the Sunrise Community Care Platform from their existing Paragon instance. In Iowa, Ringgold Hospital similarly selected Sunrise Community Care to replace their Paragon instance. Hospital leadership in both instances cite the comprehensiveness of the solution and their ability to maintain local control of clinical and financial deployment decisions as key factors in their SunComm decisions. We're proud to also partner with Next Level Urgent Care, who has selected Allscript's TouchWorks on the Azure platform to improve connectivity, better provide better EHR workflows, and greatly advanced analytics in all of its locations. Now on to our communities. A distinctive part of Allscripts is our caring culture of giving back to the communities where we live. When communities are in need, people show up, Allscripts shows up. I refer to this as the soul of our company. In December, Allscripts Associates participated in disaster relief fundraising for the Southern and Midwest Red Cross in support of those affected by the tornadoes that devastated these communities across eight United States. I'm extremely proud of our response. We raised thousands of dollars for relief and recovery efforts. Over the past few months, we've been successful at introducing three new enrichment programs inside of Allscripts. Allscripts Black Alliance, Veterans and Allies, and the Hispanic Outreach for Latinos at Allscripts. This is in addition to two long-standing enrichment groups, Allscript's Women's Engagement and Generation Next. These enrichment groups, open to all associates, help build a sense of community and foster an environment in which every voice is heard and valued. In closing, we remain optimistic about our market and our company. With the investments that we have made in expanded and new solution platforms, we believe Allscript is distinctly positioned continue to deliver mission-critical outcomes for providers, payers, pharma, and research organizations. New client prospects are recognizing our distinct offerings. Selection decisions are increasingly driven by appreciation for our agility, our methodology, and our solution-driven capabilities. These attributes should position us well for 2022 and beyond. Now I'd like to turn the call over to Rick Poulton, Paul Scripps, President and CFO.