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Quality Systems, Inc. Names Zachary J. Sherburne Global Chief Information Officer

Business Wire
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Quality Systems, Inc. (NASDAQ:QSII) , a leading provider of healthcare information systems and connectivity solutions, announced today the appointment of Zachary J. Sherburne to the post of senior vice president and global chief information officer.

Zachary J. Sherburne, Senior Vice President and Global Chief Information Officer, Quality Systems, I

Zachary J. Sherburne, Senior Vice President and Global Chief Information Officer, Quality Systems, Inc. (Photo: Business Wire)

Sherburne, a seasoned information technology executive, brings three decades of technology and financial expertise to his new role. In this global position, Sherburne will be responsible for the oversight and delivery of technology solutions to the Company’s clients, which primarily includes medical and dental group practices and small hospitals, as well as managing the internal information technology (IT) function. His goal in his new role is to create a customer service-oriented information services team that will operate as a shared-service function, designed to support the entire QSI enterprise across the Company’s eight business units. He will be based at the Company’s Irvine, Calif. headquarters.

Prior to joining Quality Systems, Sherburne was chief information officer and vice president of information services in the hardware and home improvement division of Spectrum Brands, a Madison, Wis.-based global consumer products company. In this capacity, he managed information services, digital marketing and e-commerce.

Before joining the Spectrum Brands organization, Sherburne was chief information officer and vice president of information services in the Hardware and Home Improvement division of Stanley Black & Decker.

Over the course of his career, Sherburne held various positions in public accounting and management consulting, beginning his career at at Arthur Andersen & Co. and then further expanding his business and technology expertise in his role as a senior manager with Deloitte Consulting and as a principal consultant at Computer Sciences Corp.

“We welcome Zach to the QSI management team. We believe his decades of IT-related experience will prove beneficial to the Company as we continue to grow and create solutions that help our clients quickly adapt to the rapidly changing world of healthcare. Furthermore, Zach has global IT expertise, bringing knowledge that is integral to our organization, which now spans more than 2,800 employees worldwide and eight distinct business units. We look forward to Zach’s contributions as he enhances the delivery of our solutions externally and further strengthens our internal IT functions. The global initiatives Zach plans to put into place will help streamline our operations and better control costs,” explained Dan Morefield, chief operating officer.

Sherburne commented on his new role, adding: “This is an exciting opportunity for me to help drive improvements in QSI’s Information Services (IS) function. We are striving to simplify, standardize and automate technology across all business units while creating a productive and collaborative culture. Over the years, the Company has grown through several acquisitions, and as we continue to integrate these acquisitions, we are migrating to a shared services IS function, allowing us to improve the delivery of our services while reducing related costs.”

Sherburne, a resident of Mission Viejo, Calif., holds a Bachelor of Arts degree in business and economics from the University of California at Santa Barbara in Goleta, Calif. He previously was named business intelligence person of the year by Oracle Magazine.

About Quality Systems

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, including but not limited to, statements regarding future events, developments in the healthcare sector and regulatory framework, the Company’s future performance, as well as management’s expectations, beliefs, intentions, plans, estimates or projections relating to the future (including, without limitation, statements concerning revenue, net income, and earnings per share). 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, 2014, 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 Company’s ability or inability to attract and retain qualified personnel; possible regulation of the Company’s 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 Company’s 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 Company’s revenues and operating results are very difficult to forecast. A major portion of the Company’s 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 Company’s 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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