Quality Systems, Inc. Board of Directors Elects Jeffrey H. Margolis as Chairman of Board
November 06 2015 - 5:00AM
Business Wire
Succeeds Founder Sheldon Razin Who Will
Continue to Serve as Chairman Emeritus
Quality Systems, Inc. (NASDAQ: QSII), announced today the
election of Jeffrey H. Margolis as the independent chairman of the
board of directors, effective today. Margolis succeeds Sheldon
Razin, 77, founder, who has served as the chairman of the board
since the Company’s inception in 1974. Concurrently, the board
elected Craig A. Barbarosh to serve as vice chairman.
Following his decision to retire as chairman, Razin will
continue to serve on the board as chairman emeritus. Since founding
Quality Systems more than 40 years ago, Razin has led the Company
to its industry leadership position in the continually evolving
healthcare information technology sector, with an installed user
base that spans 85,000 providers across 4,000 clients.
“I founded this Company on a desk in my garage when I had a
vision for applying technology that would automate healthcare. It
gives me a great sense of pride to see how Quality Systems has
grown from an entrepreneurial startup to one of the leading
providers of healthcare IT in the ambulatory provider space,” Razin
noted.
“It is an appropriate time for me to now pass the board
leadership reins to a seasoned leader who possesses significant
healthcare technology experience. With Jeff’s guidance and the
support of the entire board, the management team will continue to
pave the way for our clients and employees as the industry enters a
new phase of healthcare technology and the delivery of value-based
care,” Razin said.
“It is an honor to follow Shelly Razin in the role of chairman
of the board. The Company has a deep and fond appreciation for his
decades of leadership. Beyond the opportunity to continue working
with him as ongoing board member, I admire his accomplishments as
an inspirational founder and look forward to garnering his wisdom
as chairman emeritus,” Margolis explained.
“The entire board is genuinely excited by the leadership
capabilities of QSI’s CEO, Rusty Frantz, and I believe that he and
his dedicated team will deliver innovative healthcare information
technology and service solutions that will unlock significant value
for both customers and investors,” Margolis concluded.
Margolis, 52, brings more than 25 years of executive and board
leadership in the healthcare industry to the chairman role at
Quality Systems. Margolis has served as an independent director of
the Quality Systems Board since 2014 and is a member of the
Transaction Committee. He serves as the chairman and chief
executive officer of Welltok, Inc., a healthcare consumer
platform-as-a-service company, which solves challenges for health
plans and other population health managers. He is founder and
chairman emeritus of TriZetto Corporation, a healthcare enterprise
software provider acquired by Cognizant Technology Solutions Corp.
in late 2014. In addition, Margolis serves on a number of other
for-profit and not-for-profit boards in the healthcare and
technology sectors.
About Quality Systems
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. 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 statements related to
the Company's future products and offerings, developments,
initiatives, strategies and trends in the healthcare industry.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20151106005190/en/
For Media and Public Relations Inquiries:NextGen
HealthcareMichelle Rovner,
215-657-7010mrovner@nextgen.comorFor Investor Relations
Inquiries:Quality Systems, Inc.Susan J. Lewis,
954-389-3700slewis@qsii.comorJohn Stumpf, 949-255-2600Interim
CFOjstumpf@qsii.com
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