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Photo: Jetta Productions / Getty Images

AllScripts yesterday said that it will pay $100 million in cash to acquire Practice Fusion, an early electronic health records company that raised over $200 million in venture capital funding (including at a $700 million valuation in 2014).

What happened: Practice Fusion rival eClinicalWorks last May paid $155 million to settle a suit brought regulators in Vermont, for allegedly misrepresenting the capabilities of its software and paying kickbacks to certain customers in exchange for product promotion. AllScripts notes in an SEC filing that Practice Fusion last March received its own document request from those same Vermont authorities, "pursuant to a civil investigative demand."

But Practice Fusion was having unrelated troubles beforehand, having booted its founding CEO in mid-2015 and focusing on small/mid-sized customers that kept getting scooped up by larger systems that didn't integrate with Practice Fusion (i.e., they sold to the least sticky buyers).

Go deeper

Most Senate Republicans join Rand Paul effort to dismiss Trump's 2nd impeachment trial

Photo: Joshua Roberts-Pool/Getty Images

Forty-five Senate Republicans, including Minority Leader Mitch McConnell, supported an effort to dismiss former President Trump's second impeachment trial.

Why it matters: The vote serves as a precursor to how senators will approach next month's impeachment trial, making it highly unlikely the Senate will vote to convict. The House impeached Trump for a second time for "incitement of insurrection" following events from Jan 6. when a pro-Trump mob stormed the Capitol.

Texas judge temporarily halts Biden's 100-day deportation freeze

Photo: Mandel Ngan/AFP via Getty Images

A federal judge in Texas has temporarily blocked the Biden administration's 100-day freeze on deporting unauthorized immigrants.

Why it matters: Biden has set an ambitious immigration agenda, but he could face pushback from the courts.

27 mins ago - Podcasts

Reddit is running Wall Street

Wall Street is locked in a battle of will between professional investors who live in Greenwich and amateur investors who congregate on Reddit. So far, the amateurs are winning, judging by increases in their chosen stocks, like GameStop and Bed, Bath & Beyond.

Axios Re:Cap goes deeper into what's really happening, the mechanics of stock "shorting" and what it means for the markets' future, with Axios chief financial correspondent Felix Salmon.

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