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QuadraMed Corporation Announces Realignment of Board of Directors
Reston, VA — August 10, 2009 —
RESTON, Va.--(BUSINESS WIRE)--Aug. 10, 2009--
QuadraMed Corporation (NASDAQ:QDHC) announced today that James E.
Peebles will assume the position of Chairman of the Company’s Board of
Directors, succeeding Robert L. Pevenstein. Mr. Pevenstein, who has
served as Board Chairman for the last three and a half years, will
continue to serve as Chairman of the Audit Committee. The appointment of
Mr. Peebles to the role of Chairman, along with the Board’s recently
announced appointment of Duncan W. James as the Company’s new Chief
Executive Officer, reaffirms the Board’s commitment to the marketplace
in continuing to develop and enhance the Company’s products to meet the
requirements of its clients and to respond to the requirements created
by the American Recovery and Reinvestment Act of 2009 stimulus bill.
During Mr. Pevenstein’s tenure as Chairman of the Board and Chairman of
the Audit Committee, QuadraMed has significantly improved its financial
reporting process as well as its internal financial management which,
combined with profitable operations during this period, has resulted in
a strong balance sheet.
Mr. Peebles stated, “It is an honor to be appointed to the position of
Chairman, and I appreciate the confidence that the Board has expressed
as a result of this appointment. Bob Pevenstein has done an outstanding
job, and I will continue to rely heavily on him for guidance and
assistance. I am also looking forward to working with Duncan James as I
am confident that the expertise and strategy that he brings to the team
will continue to strengthen QuadraMed’s prestige in the healthcare
industry.”
Mr. Pevenstein stated, “I am pleased to pass the role of Chairman to Jim
Peebles. Jim’s recent tenure as Interim CEO has allowed him to gain in
depth knowledge of the Company’s products and market which along with
the hiring of Duncan James provides for a natural rotation of the Board
Chair.”
In addition, Julian A.L. Allen announced his resignation from the Board,
effective today. Mr. Allen has served on the Board since February 2008.
“With the appointment of Jim Peebles as Chairman and Duncan James as
Chief Executive, I am confident that QuadraMed has the right leadership
team as it executes against the many marketplace opportunities ahead. I
wish them every future success,” said Mr. Allen.
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 600 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.
Source: QuadraMed Corporation
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