Quality Systems, Inc. Acquires Gennius, Inc.
April 09 2015 - 11:03AM
Business Wire
Acquisition to provide new enterprise analytics
capabilities for QSI’s Subsidiary, Mirth
Quality Systems, Inc. (NASDAQ: QSII), announced today it has
acquired Gennius, a leading provider of healthcare data analytics.
The acquisition is expected to enhance the Company’s current
enterprise analytics competencies while broadening its business
intelligence capabilities for addressing new value-based care
requirements.
Founded in 2002, Cambridge, Mass.-based Gennius is a healthcare
analytics company with capabilities to harmonize data to prepare
and compute utilization and quality analyses of integrated patient,
administrative, and financial data across medical settings and time
periods. Its solutions generate comprehensive performance
information needed to successfully support provider organizations
under new coordinated delivery and reimbursement models.
Gennius’ data analytics engine embeds industry specifications as
well as payer contract requirements into functionality that
provides prioritized actionable insight into patient care,
population health and ACO community performance. This includes
computing and submitting measurement results for reporting
programs, such as Meaningful Use (MU), Accountable Care
Organizations (ACO), Group Practice Reporting Option (GPRO) and
Physician Quality Reporting System (PQRS).
“Gennius is pleased to join forces with QSI and its
subsidiaries, Mirth and NextGen Healthcare,” said Bernadette
Downey, former chief executive officer for Gennius, Inc. “By
combining our engineering expertise and methodologies with Mirth’s
premier open source connectivity tools and powerful visualization
console, we are able to provide customers with access to an
unparalleled enterprise system. The system affords users an
in-depth data-driven approach to care and helps healthcare
community teams align their efforts, succeed in meeting their
financial goals and deliver on their population health
initiatives.”
“Utilization and quality of care remain consistent focuses of
value-driven organizations. To remain viable, value-driven
organizations like ACOs must find ways to leverage agile solutions
that can scale and adapt to industry demands, dictated by evolving
value-based and coordinated care initiatives,” said Steve
Plochocki, president and chief executive officer for QSI. “By
integrating Gennius’ extensive data analytics and reporting
capabilities with NextGen Healthcare and Mirth solutions, we are
bringing to market the analytics-based enterprise system needed to
provide actionable data intelligence to all agents involved in the
community of care delivery. This further strengthens the position
of the company and that of our clients for continued success and
growth amid the new pay for performance arena.”
About Quality Systems, Inc.
Irvine, Calif.-based Quality Systems, Inc. and its NextGen
Healthcare subsidiary develop and market computer-based practice
management, electronic health records and revenue cycle management
applications as well as connectivity products and services for
medical and dental group practices and small hospitals. Visit
www.qsii.com and www.nextgen.com for additional information.
Certain statements in this news release are forward-looking
statements within the meaning of the federal securities laws,
including but not limited to those statements made by Bernadette
Downey related to the Company’s future products and offerings and
those statements by Steve Plochocki related to developments and
trends in the healthcare industry and the Company’s future products
and offerings. These statements are based on current expectations
of future events. If underlying assumptions prove inaccurate or
unknown risks or uncertainties materialize, actual results could
vary materially from the Company’s expectations and projections.
Factors that could cause the anticipated results to differ from
those described in the forward-looking statements include the
possibility that products will not achieve or sustain market
acceptance; the impact of incentive payments under The American
Recovery and Reinvestment Act on sales and the ability of the
Company to meet continued certification requirements; the
development by competitors of new or superior technologies; the
timing, cost and success or failure of new product and service
introductions, development and product upgrade releases; undetected
errors or bugs in our software; changing economic, political or
regulatory influences in the healthcare industry; availability of
third-party products and components; competitive pressures
including product offerings, pricing and promotional activities;
the Company's ability or inability to attract and retain qualified
personnel; possible regulation of the Company's software by the
U.S. Food and Drug Administration; and general economic conditions.
Additional risks and uncertainties are set forth in the Company’s
public filings with the U.S. Securities and Exchange Commission,
including the discussion under the heading "Risk Factors" in the
Company’s most recent Annual Report on Form 10-K and any subsequent
Quarterly Reports on Form 10-Q. The Company expressly disclaims any
intent or obligation to update these forward-looking statements
except as required by law.
© 2015 Quality Systems, Inc., Irvine, CA 92612® marks owned by
Quality Systems, Inc.All other non-QSI Marks are the property of
their respective owners
Media and Public Relations:NextGen HealthcareMichelle
Rovner, 215-657-7010mrovner@nextgen.comorInvestor
Relations:Quality Systems, Inc.Susan J. Lewis,
954-389-3700slewis@qsii.com
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