IRVINE, Calif.--(BUSINESS WIRE)--
Systems, Inc. (NASDAQ: QSII), announced today completion of its
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
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
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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For Investor Relations Inquiries:
Quality Systems, Inc.
J. Lewis, 954-389-3700
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Source: Quality Systems, Inc.
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