QuadraMed to Acquire Misys Computerized Patient Record (CPR)
22 Julio 2007 - 9:00AM
Business Wire
QuadraMed� Corporation (Amex: QD) today announced it has signed a
definitive agreement to acquire the Computerized Patient Record
(CPR) assets of Misys Healthcare, a division of Misys plc (FTSE:
MSY.L), for $33 million in cash. Misys CPR is a leading
enterprise-wide computerized patient record and electronic health
record system. This transaction is expected to close within sixty
days. Following the closing, QuadraMed will file additional
financial information in connection with its public company
reporting obligations. �Adding the CPR product to QuadraMed�s suite
of healthcare solutions is a key step in our plan to accelerate
QuadraMed�s growth while delivering on our Care-Based Revenue Cycle
strategy,� said Keith Hagen, CEO of QuadraMed. �As a result of this
acquisition, QuadraMed will be positioned to support the clinical
information systems needs of large complex hospitals and healthcare
delivery systems, particularly those focused on full clinical
integration, clinical decision support and Computerized Physician
Order Entry (CPOE). Each of these is an important component of our
healthcare industry�s quest to increase patient safety and quality.
�As a fully integrated clinical information system with a
multi-entity patient-centric database, closed-loop medication
management, integrated laboratory and radiology management systems
and data warehouse capabilities, this product expands the market
for QuadraMed to encompass the largest and most complex healthcare
delivery systems worldwide,� Mr. Hagen continued. �The CPR product
has achieved significant market recognition through its solid
client base, numerous awards, positive reviews and high marks from
credible industry sources including KLAS, Gartner, and TEPR.� The
foundational components of the QuadraMed Care-Based Revenue Cycle
include solutions for Access and Identity Management, Care
Management, Health Information and Revenue Cycle Management. These
integrated end-to-end solutions combine with CPR to create a
product line designed to optimize the quality and safety of patient
care. These solutions also help clients leverage quality care into
financial health, enabling them to receive the proper reimbursement
in the shortest time, at the lowest administrative cost. For
information about all QuadraMed Care-Based Revenue Cycle solutions
and related services, visit www.quadramed.com or call 800.393.0278.
About QuadraMed Corporation QuadraMed Corporation advances the
success of healthcare organizations through IT solutions that
leverage quality care into positive financial outcomes. Using
QuadraMed's Care-Based Revenue Cycle solutions, which are designed
to optimize the patient experience and leverage quality of care
into payment, our clients seek to receive the proper reimbursement,
in the shortest time, at the lowest administrative cost. QuadraMed
delivers real-world solutions that help healthcare professionals
deliver outstanding patient care with significant efficiency.
Behind our products and services is a staff of 600 professionals
whose experience and dedication to service have earned QuadraMed
the trust and loyalty of customers at approximately 2,000
healthcare provider facilities. About Misys plc Misys plc (FTSE:
MSY.L), the global software and solutions company, is one of the
world's largest and longest-established providers of
industry-specific software. Founded in 1979, Misys serves the
international banking and healthcare industries, combining
technological expertise with in depth understanding of customers'
markets and operational needs. In banking and treasury &
capital markets Misys is a market leader, with over 1,200
customers, including all of the world�s top 50 banks. In healthcare
Misys is also a leader, serving more than 110,000 physicians in
18,000 practice locations, 1,200 hospitals and 600 home care
providers. Misys employs around 5,500 people who serve customers in
more than 120 countries. For more information, visit:
www.misys.com. Cautionary Statement on Risks Associated with
QuadraMed's Forward-Looking Statements This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 by QuadraMed that are
subject to risks and uncertainties. The words "believe," "expect,"
"anticipate," "intend," "plan," "estimate," "may," "should,"
"could," and similar expressions are intended to identify such
statements. Forward-looking statements are not guarantees of future
performance and are to be interpreted only as of the date on which
they are made. QuadraMed undertakes no obligation to update or
revise any forward-looking statement except as required by law.
QuadraMed advises investors that it discusses risk factors and
uncertainties that could cause QuadraMed's actual results to differ
from forward-looking statements in its periodic reports filed with
the Securities and Exchange Commission ("SEC"). QuadraMed's SEC
filings can be accessed through the Investor Relations section of
our website, www.quadramed.com, or through the SEC's EDGAR Database
at www.sec.gov (QuadraMed has EDGAR CIK No. 0001018833). QuadraMed
is a registered trademark of QuadraMed Corporation. All other
trademarks are the property of their respective holders.
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