suburban company moves to city

Allscripts HQ heading for Chicago from Libertyville August 17, 2004 BY NEIL VERSEL Software developer and drug distribution firm Allscripts Healthcare Solutions will move its corporate headquarters from Libertyville to the Merchandise Mart before the end of the year. Chairman and CEO Glen E. Tullman said Allscripts will lease approximately 13,000 square feet of office space in the Mart, and relocate about 70 corporate, finance, business-development and education-related jobs from the northern fringes of the metropolitan area to the heart of the city during the fourth quarter. At least 50 sales, technical, manufacturing and logistics workers will remain in Libertyville, as will the company's drug repackaging and distribution warehouse. The move largely is aimed at creating a showcase for out-of-town visitors, Tullman said. "When we bring clients to Chicago, they want to see Chicago. They want to see the sights," he said. "We expect to bring thousands of clients into Chicago." No inducements were offered by the city of Chicago to bring the company to the city. Allscripts makes wireless-application software for physicians, to automate common activities using handheld or workstation computers to prescribe medication, dictate orders and make clinical notes on patients. Tullman's optimistic prediction is just the latest in a series of positive developments for the company and for health care information technology as a whole. In April, President Bush named a first-ever national coordinator of health IT to lead his stated goal of computerizing medical records for most Americans within 10 years. Such political opponents as Sen. Edward M. Kennedy (D-Mass.) and former Republican House Speaker Newt Gingrich have joined together in support of legislation to encourage private-sector adoption of clinical IT. Private industry already has taken some proactive steps, working to develop standards for electronic medical records and for data sets to assure continuity of care when patients change doctors or move between care settings. Allscripts, a survivor of the dot-com bust and massive consolidation in the health IT sector, turned profitable last year and has been in the black for three consecutive quarters. Cash flow has been positive for six straight quarters. After posting a loss of $5 million on $86 million in revenue last year, Allscripts swung to a profit in the second quarter. The company earned $700,000, or 2 cents a share, on $26 million in revenue, up 30 percent. ..blah, blah, blah, it's a long article. You can read the rest at the Chicago Sun-Times. It's not a huge company, but it's good to see suburban companies coming to the city. Perhaps a trend as the downtown grows more liveable/fun, etc and as more "yuppies" with high paying jobs live in the city?>