Quality Systems, Inc. Completes HealthFusion Holdings, Inc. Acquisition
January 04 2016 - 4:01PM
Business Wire
Quality Systems, Inc. (NASDAQ: QSII), announced today completion
of its previously announced acquisition of HealthFusion Holdings,
Inc. (HealthFusion) for $165 million plus the potential additional
contingent consideration of up to $25 million.
Based in San Diego, Calif., HealthFusion is a leading developer
of web-based, cloud computing software for physicians, hospitals
and medical billing services. HealthFusion’s 100 percent
cloud-based MediTouch® platform is currently used by over 3,000
physician practices, hospital ambulatory centers and medical
billing services (totaling more than 6,000 subscribers).
“We are pleased to close the HealthFusion transaction on
schedule and consistent with the terms previously mentioned,” said
Rusty Frantz, president and chief executive officer at Quality
Systems, Inc. “The extension of HealthFusion’s solutions and
intellectual property supports our strategy to expand both our
client base and solution capabilities in our core ambulatory
market. We look forward to expanding the platform to satisfy the
needs of practices of increasing size and complexity as they
navigate the changing healthcare models to succeed in the new
value-based environment.”
About Quality Systems, Inc.
Irvine, Calif.-based Quality Systems, Inc. (QSI) and its
subsidiary, NextGen Healthcare Information Systems, develop and
provide a range of software and services for medical and dental
group practices, including practice management and electronic
health record applications, patient portal, interoperability and
connectivity products, and population health management and
analytics offerings. Services include managed cloud services,
revenue cycle management, claims clearinghouse, data interchange
and value-add consulting. The Company’s solution portfolio is
readily integrated and collectively positioned to drive low total
cost of ownership for its client partners, as well as enable the
transition to value-based healthcare. 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 Rusty Frantz
regarding the anticipated impact of the HealthFusion acquisition.
These forward-looking statements may contain the words “believe,”
“anticipate,” “continue,” “expect,” “plan,” “potential,” “predict,”
“estimate,” “outlook,” “project,” “will be,” “will continue,” “will
likely result,” or other similar words and phrases. Risks and
uncertainties exist that may cause results to differ materially
from those set forth in these forward-looking statements. Factors
that could cause the anticipated results to differ from those
described in the forward-looking statements include, but are not
limited to, market and financial conditions which may impact the
performance of HealthFusion as well as those risks 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160104006442/en/
For Investor Relations Inquiries:Quality Systems,
Inc.Susan J. Lewis, 954-389-3700slewis@qsii.comorJohn Stumpf,
949-255-2600Interim CFOjstumpf@qsii.comorFor Media and Public
Relations Inquiries:NextGen HealthcareMichelle Rovner,
215-657-7010mrovner@nextgen.com
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