Quality Systems, Inc. Announces Recommendations from Egan-Jones Proxy Services That Shareholders Vote for All Its Board Nominees
Egan-Jones Says "Company's Strategy Has Positioned It to Capitalize
On Developing Trends In The Healthcare Industry"
The White Proxy Card Is In The Best Interest Of The Company And Its
QSI Urges Shareholders to Vote for Board
Nominees Ahead of Annual Meeting
IRVINE, Calif.--(BUSINESS WIRE)--
Systems, Inc. (Nasdaq: QSII) announced today that Egan-Jones Proxy
Services, a leading voting advisory service, has recommended that QSI
shareholders vote for all of the Company's board nominees - Craig
Barbarosh, George Bristol, Mark Davis, Russell Pflueger, Steven
Plochocki, Sheldon Razin, Lance Rosenzweig and Maureen Spivack - for
election at Quality Systems' annual meeting of shareholders to be held
on August 16, 2012.
In its report, Egan-Jones noted:
"We believe that support for voting the management ballot is merited and
that voting the management ballot (WHITE PROXY CARD) is in the best
interest of the Company and its shareholders. In arriving at that
conclusion, we have considered the following factors:
1. Our belief that the Company's strategy has positioned it to
capitalize on developing trends in the healthcare industry.
2. Our belief that Mr. [Ahmed] Hussein's proxy solicitation is an
attempt to take over the Company without paying a premium.
3. Our belief that Mr. Hussein has failed to make a persuasive case that
electing his nominees to the board would result in the enhancement of
4. We are not convinced that the election of the dissidents' slate to
the board of directors would work to the benefit of all shareholders."
Steven T. Plochocki, Chief Executive Officer of Quality Systems, said:
"We are grateful that Egan-Jones has recognized the quality of our
nominees and the value of QSI's strategy in positioning the Company for
future growth and significant opportunities in the industry. While the
industry is facing some near-term challenges, we remain confident that
the detailed strategy being executed by our highly qualified Board
nominees and management team will allow us to continue to create value
for all QSI shareholders. We
urge shareholders to vote FOR our nominees on the WHITE proxy card today."
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
for additional information.
On July 13, 2012, the company filed its definitive proxy statement in
connection with its 2012 annual meeting of shareholders, and on July 16,
2012, began the process of mailing such proxy statement to its
shareholders, together with a WHITE proxy card. Shareholders are
strongly advised to read the definitive proxy statement and the
accompanying proxy card, as they will contain important information.
Shareholders may obtain the definitive proxy statement, any amendments
or supplements to such proxy statement, and other documents filed by the
company with the SEC for free at the Internet website maintained by the
SEC at www.sec.gov.
Copies of the definitive proxy statement and any amendments and
supplements to such proxy statement may be requested by contacting our
proxy solicitor, MacKenzie Partners, Inc. at (800) 322-2885 toll-free or
by email at email@example.com.
SAFE HARBOR PROVISIONS FOR FORWARD-LOOKING
Statements made in this document, the proxy statements to be filed with
the SEC, communications to shareholders, press releases and oral
statements made by our representatives that are not historical in
nature, or that state our or management's intentions, hopes, beliefs,
expectations or predictions of the future, may constitute
"forward-looking statements" within the meaning of Section 21E of the
Securities and Exchange Act of 1934, as amended. Forward-looking
statements can often be identified by the use of forward-looking words,
such as "could," "should," "will," "will be," "will lead," "will
assist," "intended," "continue," "believe," "may," "expect," "hope,"
"anticipate," "goal," "forecast," "plan," or "estimate" or variations
thereof or similar expressions. Forward-looking statements are not
guarantees of future performance.
Forward-looking statements involve risks, uncertainties and assumptions.
It is important to note that any such performance and actual results,
financial condition or business, could differ materially from those
expressed in such forward-looking statements. Factors that could cause
or contribute to such differences include, but are not limited to, the
risk factors discussed under "Risk Factors" in our Annual Report on Form
10-K for fiscal year ended March 31, 2012, as well as factors discussed
elsewhere in this and other reports and documents we file with the SEC.
Other unforeseen factors not identified herein could also have such an
effect. We undertake no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events or changes in future operating results, financial
condition or business over time unless required by law. Interested
persons are urged to review the risks described under "Risk Factors" and
in "Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our Annual Report on Form 10-K for fiscal year
ended March 31, 2012, as well as in our other public disclosures and
filings with the SEC.
Quality Systems, Inc.
Steven Plochocki, CEO, 949-255-2600
Larry Dennedy, 212-929-5500
Susan J. Lewis, 303-804-0494
Tom Johnson or Mike Pascale, 212-371-5999
Source: Quality Systems, Inc.
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