UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 17, 2015
QUALITY
SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
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CALIFORNIA |
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001-12537 |
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95-2888568 |
(State or other jurisdiction
of incorporation) |
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(Commission
File Number) |
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(IRS Employer
Identification Number) |
18111 Von Karman, Suite 700
Irvine, California 92612
(Address of Principal Executive Offices)
(949) 255-2600
(Registrants Telephone Number, Including Area Code)
Not applicable
(Former
Name or Former Address, if Changed Since Last Report)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On August 17, 2015, Steve Puckett, Executive Vice President and Chief Technology Officer of the Company, resigned by mutual agreement with
the Company.
Item 7.01 |
Regulation FD Disclosure. |
The Company issued a press release on August 17, 2015,
announcing the resignation of Steve Puckett as Executive Vice President and Chief Technology Officer of the Company. The press release making these announcements is attached hereto as Exhibit 99.1.
In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01, including Exhibit 99.1, shall not be
deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference
into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits
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Exhibit
No. |
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Description |
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99.1 |
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Press Release dated August 17, 2015 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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QUALITY SYSTEMS, INC. |
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Date: August 17, 2015 |
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By: |
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/s/ JOCELYN A. LEAVITT |
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Jocelyn A. Leavitt |
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Executive Vice President, General Counsel and Secretary |
EXHIBITS ATTACHED TO THIS REPORT ON FORM 8-K
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Exhibit
No. |
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Description |
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99.1 |
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Press Release dated August 17, 2015 |
Exhibit 99.1
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For Further Information, Contact: |
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Susan J. Lewis |
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954-389-3700
slewis@qsii.com |
FOR IMMEDIATE RELEASE
AUGUST 17, 2015
QUALITY SYSTEMS, INC. ANNOUNCES TRANSITION OF
TECHNOLOGY FUNCTION LEADERSHIP
IRVINE, Calif
August 17, 2015
Quality Systems, Inc. (NASDAQ: QSII), a leading provider of healthcare information
systems, services, and connectivity solutions, today announced a transition in its technology leadership.
Steve Puckett, Executive Vice
President and Chief Technology Officer, has resigned by mutual agreement with the Company. Responsibility for the Companys technology functions has immediately moved to Daniel J. Morefield, Executive Vice President and Chief Operating Officer
of the Company. Mr. Puckett will remain with the Company until November 13, 2015 to support a smooth transition. The Company will use this transitional opportunity to evaluate how to best structure its technology functions going forward,
and also examine the prioritization, timing and application of investment and resources in its ongoing and contemplated technology development initiatives.
Rusty Frantz, President and Chief Executive Officer of Quality Systems, Inc., said, Since joining the Company in July, I continue to
take a detailed, fresh look at our technology initiatives in the context of what will be best for our customers in a dynamic healthcare environment that increasingly demands value-based care delivery, coordinated care and patient engagement.
Positioning our customers with strong solutions to accomplish the transition to these changes also best positions Quality Systems for a strong future.
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.
- more -
Quality Systems, Inc.
Transition of Technology Function Leadership - Page 2
SAFE
HARBOR PROVISIONS FOR FORWARD-LOOKING STATEMENTS
This news release may contain forward-looking statements within the meaning of the federal
securities laws, including but not limited to, statements regarding future events, developments in the healthcare sector and regulatory framework, the Companys future performance, as well as managements expectations, beliefs, intentions,
plans, estimates or projections relating to the future. Risks and uncertainties exist that may cause the 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 and additional risks and uncertainties are set forth in Part I, Item A of our most recent Annual Report on Form 10-K for the fiscal year ended March 31, 2015, including but not
limited to: 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; 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 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; changes of accounting estimates and assumptions used to prepare the prior periods financial statements; and general economic
conditions. A significant portion of the Companys quarterly sales of software product licenses and computer hardware is concluded in the last month of a 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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