QuadraMed Signs $10.6M QCPR Contract with Saudi Arabia National Guard Health Affairs (NGHA)
July 14 2008 - 6:32PM
Business Wire
QuadraMed Corporation (NASDAQ:QDHC) today announced that the Saudi
Arabia National Guard Health Affairs (NGHA), located in Riyadh,
Saudi Arabia, signed a contract for QuadraMed CPR (QCPR) service
expansion, migration to InterSystem�s Cache database and interface
licenses that represent sales bookings of approximately US$8.8
million, with a total contract value of approximately US$10.6
million. This agreement covers the rollout of the QCPR product to
the NGHA facilities throughout the Kingdom of Saudi Arabia.
Currently installed at one hospital and four primary healthcare
centers in the central region of Riyadh, QuadraMed will install
QCPR at three additional hospitals and twelve primary healthcare
centers: two primary healthcare centers in the eastern region,
eight in the western region and two in the central region of Saudi
Arabia. The Saudi Arabia NGHA provides modern medical care to
National Guard employees and their dependents, as well as to Saudi
Nationals with tertiary health problems. Under the umbrella of
NGHA, there are four hospitals and sixty primary and secondary
health centers around the Kingdom. Supplying the only Level I
trauma center in the Kingdom, NGHA has achieved the lowest
mortality and morbidity rates among the patient population. �The
expansion of our relationship with Saudi Arabia NGHA adds to our
growing install base within the Middle East, which also includes
King Fahad hospital in al-Khobar, Saudi Arabia. Our selection
during a competitive review also indicates that QCPR is a
competitive product in the Middle East and clients there value the
regionalization available within QCPR,� said Keith Hagen,
QuadraMed's president and chief executive officer. This significant
QCPR contract helped fuel robust sales bookings for QuadraMed in
the first half of 2008. Additionally, the company experienced
strong sales success across its various product offerings. Sales
bookings for the first two quarters of the year reached $33.5
million, a 36% increase over the same period in 2007. Reflecting
the strength of the company's broad product portfolio and brand
appeal, several large hospital systems selected QuadraMed's
enterprise health solutions to enhance their quality of care and
improve financial performance. �Our strong sales success is being
driven by our clients' trust in QuadraMed�s ability to deliver
proven solutions and enhance patient safety and outcomes,� added
Hagen. �We appreciate the confidence that clients have in our
ability to help them achieve the highest clinical performance while
optimizing their ROI. This quarter�s sales performance further
validates our strategy and our decision to acquire the QCPR product
last year.� Also, during the three months which ended June 30,
2008, QuadraMed signed several other significant sales and services
contracts including: Agence de la sant� et des services sociaux de
l'Estrie, Sherbrooke, Qu�bec, Canada, for the QCPR Radiology
Information System application for US$1.1 million. Holland
Community Hospital, Michigan, for Enterprise Scheduling and
Electronic Document Management for $1.1 million. Rancho Los Amigos
National Rehabilitation Center, Downey, California, for Quantim
Coding and Compliance and Electronic Document Management for
$800,000. NYC Health and Hospitals Corporation, New York, for
additional QCPR software and services for $475,000. About QuadraMed
Corporation QuadraMed Corporation advances the success of
healthcare organizations through IT solutions that leverage quality
care into positive financial outcomes. QuadraMed provides real
world solutions that help healthcare professionals deliver
outstanding patient care efficiently and cost effectively. Behind
the company�s products and services is a staff of 650 professionals
whose experience and dedication have earned QuadraMed the trust and
loyalty of clients at over 2,000 healthcare provider facilities.
For more information about QuadraMed, visit
http://www.quadramed.com. Cautionary Statement on Risks Associated
with QuadraMed 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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