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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>UNITED STATES
<BR>SECURITIES AND EXCHANGE
COMMISSION
<BR>
WASHINGTON, D.C. 20549</B> </FONT></P>

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     <P ALIGN=CENTER><B>_________________</B> </P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>FORM 8-K</B> </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>CURRENT REPORT

<BR>
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934</B> </FONT></P>

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<P ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Date
of Report (Date of earliest event reported): &nbsp;&nbsp;April 27, 2005</B> </FONT></P>

<BR><P ALIGN="Center"><B>IDX SYSTEMS CORPORATION</B></P>

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     <P ALIGN=CENTER><B>_________________</B> </P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>(Exact Name of
Registrant as Specified in Charter)</B> </FONT></P>



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<TABLE WIDTH=100%>
  <TR ALIGN="center" VALIGN=top>
    <TD WIDTH=30%><FONT SIZE=2>Vermont<br>
      </FONT>
      <hr noshade size="1">
      <FONT SIZE=2>(State or other juris- <br>
      diction of incorporation </FONT></TD>
    <TD WIDTH=30%><FONT SIZE=2>0-26816 <br>
      </FONT>
      <hr noshade size="1">
      <FONT SIZE=2>(Commission <br>
      File Number) &nbsp;</FONT></TD>
    <TD WIDTH=30%><FONT SIZE=2>03-0222230<br>
      </FONT>
      <hr noshade size="1">
      <FONT SIZE=2>(IRS Employer <br>
      Identification No.) &nbsp;</FONT></TD>
  </TR>
</TABLE>


<br>
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<TABLE WIDTH=100%>
  <TR ALIGN="center" VALIGN=top>
    <TD WIDTH=30%><FONT SIZE=2>40 IDX Drive, South Burlington, VT <BR>
      </FONT>
      <hr noshade size="1">
      <FONT SIZE=2>(Address of principal executive offices) </FONT></TD>
    <TD WIDTH=30%><FONT SIZE=2>&nbsp;05403 <br>
      </FONT>
      <hr noshade size="1">
      <FONT SIZE=2>(Zip Code) </FONT></TD>
  </TR>
</TABLE>


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<P ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Registrant&#146;s
telephone number, including area code: 802-862-1022</B> </FONT></P>



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<P ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>(Former Name or Former Address, if Changed Since Last Report)</B></FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (<I>see</I>
General Instruction A.2. below): </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
|_|      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
|_|      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
|_|      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
|_|      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>


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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Item 1.01. Entry Into A
Material Definitive Agreement </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>On April 28, 2005, IDX Systems
Corporation announced it had entered into an agreement to purchase substantially all of
the assets of RealTimeImage Ltd, an Israeli company (&#147;RTI&#148;), and of RTI&#146;s wholly-owned US subsidiary pursuant to an Asset Purchase
Agreement dated April 27, 2005 by and among IDX Information Systems, IDX R&amp;D Israel
Ltd., RealTimeImage Ltd., RealTimeImage Inc., and HTI Associates LLC as the Shareholder&#146;s Agent
(the &#147;Agreement&#148;). </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Under the terms of the Agreement, the
purchase price for the assets will be approximately $15.5 million in cash. Of the purchase price,
approximately $2.43 million will be held in escrow for 18 months to secure certain indemnification
obligations of RTI under the Agreement, although up to $0.8 million of such amount may be released
6 months following the closing under certain conditions.


</FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The closing of the acquisition is
subject to the satisfaction of certain terms and conditions, including the entry into employment
agreements with certain RTI employees and a percentage of current RTI employees, the receipt of certain
Israeli government approvals, the receipt of certain third party consents and other
customary closing conditions. The parties expect the transaction to close in the second
quarter of 2005. If the transaction does not close by July 31, 2005, either party can elect to
terminate the Agreement. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The full text of the press release
issued in connection with the announcement is attached as Exhibit 99.1 to this Current
Report on Form 8-K. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The agreement will be filed as an
exhibit to the IDX&#146;s Report on Form 10-Q for the first quarter of 2005. </FONT></P>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURE </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></P>



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  <TR VALIGN=TOP>
    <TD WIDTH=34%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; Date:
      &nbsp;&nbsp;April 28, 2005 </FONT></TD>
    <TD WIDTH=21%>&nbsp;</TD>
    <TD colspan="2"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
      IDX SYSTEMS CORPORATION<br>
      </FONT></TD>
  </TR>
  <TR VALIGN=TOP>
    <TD WIDTH=34%>&nbsp;</TD>
    <TD WIDTH=21%>&nbsp;</TD>
    <TD width="4%"><font face="Times New Roman, Times, Serif" size=2>By:</font></TD>
    <TD WIDTH=41%><font face="Times New Roman, Times, Serif" size=2> /s/ John
      A. Kane<br>
      </font>
      <hr noshade size="1">
      <font face="Times New Roman, Times, Serif" size=2>John A. Kane<br>
      Senior Vice President, Finance and <br>
      Administration, Chief Financial <br>
      Officer and Treasurer </font></TD>
  </TR>
</TABLE>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>EXHIBIT INDEX </FONT></P>












<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="BOTTOM">
     <TH ALIGN="Left"><FONT FACE="Times New Roman" SIZE="2"><U>Exhibit No.</U>
</FONT></TH>
     <TH ALIGN="Left"><FONT FACE="Times New Roman" SIZE="2"><U>Description</U>
</FONT></TH></TR>
<TR VALIGN="TOP">
     <TD WIDTH="30%"><FONT FACE="Times New Roman" SIZE="2"><BR>99.1
</FONT></TD>
     <TD WIDTH="70%"><FONT FACE="Times New Roman" SIZE="2"><BR>Press release entitled "IDX Systems
Corporation Signs Definitive Agreement to Acquire the Assets of RealTimeImage, Ltd." issued by the Company
on April 28, 2005
</FONT></TD></TR>
</TABLE>



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{"company-data": {"conformed-name": "IDX SYSTEMS CORP", "cik": "0001001185", "assigned-sic": "7373", "irs-number": "030222230", "state-of-incorporation": "VT", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-26816", "film-number": "05778950"}, "business-address": {"street1": "1400 SHELBURNE RD", "street2": "PO BOX 1070", "city": "SOUTH BURLINGTON", "state": "VT", "zip": "05403", "phone": "8028621022"}, "mail-address": {"street1": "1400 SHELBURNE RD", "street2": "PO BOX 1070", "city": "SOUTH BURLINGTON", "state": "VT", "zip": "05403"}}
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
WASHINGTON, D.C. 20549
_________________
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported):   April 27, 2005
IDX SYSTEMS CORPORATION
_________________
(Exact Name of
Registrant as Specified in Charter)
Vermont
(State or other juris-
diction of incorporation
0-26816
(Commission
File Number)
03-0222230
(IRS Employer
Identification No.)
40 IDX Drive, South Burlington, VT
(Address of principal executive offices)
05403
(Zip Code)
Registrant's
telephone number, including area code: 802-862-1022
(Former Name or Former Address, if Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
|_|      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|_|      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|_|      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|_|      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. Entry Into A
Material Definitive Agreement
On April 28, 2005, IDX Systems
Corporation announced it had entered into an agreement to purchase substantially all of
the assets of RealTimeImage Ltd, an Israeli company ("RTI"), and of RTI's wholly-owned US subsidiary pursuant to an Asset Purchase
Agreement dated April 27, 2005 by and among IDX Information Systems, IDX R&D Israel
Ltd., RealTimeImage Ltd., RealTimeImage Inc., and HTI Associates LLC as the Shareholder's Agent
(the "Agreement").
Under the terms of the Agreement, the
purchase price for the assets will be approximately $15.5 million in cash. Of the purchase price,
approximately $2.43 million will be held in escrow for 18 months to secure certain indemnification
obligations of RTI under the Agreement, although up to $0.8 million of such amount may be released
6 months following the closing under certain conditions.
The closing of the acquisition is
subject to the satisfaction of certain terms and conditions, including the entry into employment
agreements with certain RTI employees and a percentage of current RTI employees, the receipt of certain
Israeli government approvals, the receipt of certain third party consents and other
customary closing conditions. The parties expect the transaction to close in the second
quarter of 2005. If the transaction does not close by July 31, 2005, either party can elect to
terminate the Agreement.
The full text of the press release
issued in connection with the announcement is attached as Exhibit 99.1 to this Current
Report on Form 8-K.
The agreement will be filed as an
exhibit to the IDX's Report on Form 10-Q for the first quarter of 2005.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:
        April 28, 2005
IDX SYSTEMS CORPORATION
By:
/s/ John
      A. Kane
John A. Kane
Senior Vice President, Finance and
Administration, Chief Financial
Officer and Treasurer
EXHIBIT INDEX
Exhibit No.
Description
99.1
Press release entitled "IDX Systems
Corporation Signs Definitive Agreement to Acquire the Assets of RealTimeImage, Ltd." issued by the Company
on April 28, 2005