Attached files
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8-K - 8-K - NEXTGEN HEALTHCARE, INC. | a57975e8vk.htm |
EX-10.1 - EX-10.1 - NEXTGEN HEALTHCARE, INC. | a57975exv10w1.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE
|
For further information, contact: | |
NOVEMBER
30, 2010
|
Susan J. Lewis, 303-804-0494 | |
slewis@qsii.com |
QUALITY SYSTEMS, INC. NAMES JAMES J. SULLIVAN
EXECUTIVE VICE PRESIDENT, GENERAL COUNSEL AND SECRETARY
EXECUTIVE VICE PRESIDENT, GENERAL COUNSEL AND SECRETARY
IRVINE,
Calif. ... November 30, 2010 ... Quality Systems, Inc. (NASDAQ: QSII)
announced today that it has named James J. Sullivan to the position of executive vice president,
general counsel and secretary of the company, effective
November 29, 2010.
In this capacity, Sullivan will be responsible for overseeing all legal-related functions for
the company. The general counsel role is a newly created position, and Sullivan is replacing Paul
A. Holt as secretary of the company. Holt will continue to serve as executive vice president and
chief financial officer.
Sullivan brings more than 25 years of experience in corporate and securities law to the
company. Before joining Quality Systems, Sullivan served as senior vice president, general counsel
and secretary of The TriZetto Group, Inc., a healthcare technology company headquartered in
Greenwood Village, Colo. Prior to joining The TriZetto Group in July 2001, Sullivan ran a legal
and consulting practice focused on corporate, securities and intellectual property matters for
technology and emerging-growth companies, from June 2000 to July 2001. Previously, he was senior
vice president, general counsel and secretary of Long Beach Financial Corporation, a national
mortgage lender headquartered in Orange, California. Earlier in his career, he was a corporate and
securities associate with Gibson, Dunn & Crutcher in its Orange County, California office.
We are pleased to welcome Jim to our management team. He is a seasoned attorney with several
years of experience in the healthcare information technology (HCIT) arena. His specific industry
experience coupled with his corporate legal expertise will bode well for Quality Systems as we
continue to focus on our strategic positioning and anticipated growth from the stimulus plan and
beyond. We look forward to the contributions Jim will make in his new role, said Steven T.
Plochocki, chief executive officer at Quality Systems.
Sullivan added: Quality Systems has built a solid reputation in the HCIT sector, and there
are many changes waiting to occur within our nations healthcare system. This is truly an
exceptional time to be engaged in the sector, and I am excited to bring my decades of legal and
healthcare knowledge to this growing entity.
- more -
Quality Systems, Inc.
Appointment of James J. Sullivan
Page 2
Appointment of James J. Sullivan
Page 2
Sullivan,
53, resides in Newport Beach, Calif., with his wife, Leslie, and his two daughters.
He holds a Bachelor of Science degree in Business Administration from the University of Southern
California and a Juris Doctorate from Loyola Law School of Los Angeles. He received a Certified
Public Accounting certification from the State of California in 1982.
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.
SAFE HARBOR PROVISIONS FOR FORWARD-LOOKING STATEMENTS
This news release may contain forward-looking statements within the meaning of the federal
securities laws. Statements regarding future events, developments, the Companys future
performance, as well as managements expectations, beliefs, intentions, plans, estimates or
projections relating to the future (including, without limitation, statements concerning revenue
and net income), are forward-looking statements within the meaning of these laws and involve a
number of risks and uncertainties. Management believes that these forward looking statements are
reasonable and are based on reasonable assumptions and forecasts, however, undue reliance should
not be placed on such statements that speak only as of the date hereof. Moreover, these
forward-looking statements are subject to a number of risks and uncertainties, some of which are
outlined below. As a result, actual results may vary materially from those anticipated by the
forward-looking statements. Among the important factors that could cause actual results to differ
materially from those indicated by such forward-looking statements are: the volume and timing of
systems sales and installations; length of sales cycles and the installation process; the
possibility that products will not achieve or sustain market acceptance; seasonal patterns of sales
and customer buying behavior; 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 software; product liability; changing
economic, political or regulatory influences in the health-care industry; changes in
product-pricing policies; availability of third-party products and components; competitive
pressures including product offerings, pricing and promotional activities; the Companys ability or
inability to attract and retain qualified personnel; possible regulation of the Companys software
by the U.S. Food and Drug Administration; uncertainties concerning threatened, pending and new
litigation against the Company including related professional services fees; uncertainties
concerning the amount and timing of professional fees incurred by the Company generally; changes of
accounting estimates and assumptions used to prepare the prior periods financial statements;
general economic conditions; and the risk factors detailed from time to time in the Companys
periodic reports and registration statements filed with the Securities and Exchange Commission. A
significant portion of the Companys quarterly sales of software product licenses and computer
hardware is concluded in the last month of the fiscal quarter, generally with a concentration of
such revenues earned in the final ten business days of that month. Due to these and other factors,
the Companys revenues and operating results are very difficult to forecast. A major portion of the
Companys costs and expenses, such as personnel and facilities, are of a fixed nature and,
accordingly, a shortfall or decline in quarterly and/or annual revenues typically results in lower
profitability or losses. As a result, comparison of the Companys period-to-period financial
performance is not necessarily meaningful and should not be relied upon as an indicator of future
performance. The
Company undertakes no obligation to publicly update any forward-looking statements, whether as a
result of new information, future events or otherwise.
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