Quality Systems, Inc.
Company: Quality Systems, Inc., Irvine, CA
Entry Submitted By: PAIRELATIONS, LLC
Company Description: 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.
Nomination Category: Corporate Communications, Investor Relations, & Public Relations Awards Categories
Nomination Sub Category: Investor Relations Campaign/Program of the Year
Nomination Title: Quality Systems, Inc.: New Approach to IR Leads to New Image
Tell the story about this nominated investor relations program since January 1 2010 (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
In the past year, Quality Systems, Inc. has focused on enhancing its investor
relations efforts. This came on the heels of a management change that prompted
a complete shift in the way in which the company conducted its investor
relations functions.
With the appointment of a new CEO just a few years prior, QSI transformed the
way in which it communicated with Wall Street.
Steven T. Plochocki had served on the Board of QSI for four years before being
named CEO in 2008. Since that time, he has worked hard to put IR initiatives
at the forefront since it was previously always on the back burner.
The previous CEO was tight-lipped and shared virtually nothing with the
investment community, leaving them frustrated and deprived of information
necessary to do their jobs appropriately. Without that communication, it was
virtually impossible for QSI to gain confidence and recognition of its
operations among the Street.
But Plochocki knew better. He knew that communication with the Street was his
utmost priority in his new position. He had been trained in effective IR and
appointed a veteran IR professional with whom he had previously worked to lead
the charge.
By teaming up with Susan J. Lewis of PAIRELATIONS, LLC, a night and day
transformation occurred, which is currently reflected in financial success of
the company.
In 2010, the company’s IR efforts gained much traction, resulting in:
• Growing the number of analysts following the company from six to 29
• Tripling market capitalization to $2.5 billion
• Tripling the stock price to in excess of $85
• Enhancing communications through press releases, growing from only 11 issued
under former CEO to 150 in 2010
• Changed reporting from a bland and pared down 10-K wrap to full color annual
report, which is currently up for several awards and serves as a sales tool for
the company
• Changed face of company and image among analysts, shareholders and potential
investors
• Used largest industry trade show (HIMSS) as a platform for investor
communication and organized dozens of meetings there in 2010
• Arranged and hosted an analyst day dedicated to the investment community in
NYC; attended by nearly 70 investment community members
• Presented at 14 investor conferences in 2010
• Received feedback from Street, Board and employees about elevated awareness
and image of the company and its 180 degree turnaround
Many of the analysts have expressed feedback on Lewis’ role and the company’s
newfound communications. According to K. Newton Juhng, Senior Vice President,
Equity Research - Healthcare Services, at FBR Capital Markets & Co, he cites
the QSI changes: “Steve’s enthusiasm and willingness to be the face of Quality
Systems for the investment community was a refreshing change from the more
reclusive and reluctant prior CEO. This, coupled with new IR protocols
implemented by QSI, has changed the way it communicates with analysts and
investors. There is a markedly different approach to IR now.”
List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
http://investor.qsii.com/releasedetail.cfm?ReleaseID=516191
http://investor.qsii.com/releases.cfm
http://investor.qsii.com/releases.cfm?ReleasesType=Press+Coverage&Year=
http://www.fool.com/investing/general/2011/03/08/screening-for-rising-stars.aspx
http://investor.qsii.com/releasedetail.cfm?ReleaseID=498103
Provide a brief (up to 100 words) biography about the leader(s) of the team that carried out this nominated investor relations program:
Susan J. Lewis is a public and investor relations specialist with more than 25
years of industry-related experience. Presently, Lewis is chief executive
officer of PAIRELATIONS, LLC, a public and investor consulting firm, where she
represents a diverse client base, including Quality Systems, Inc., her largest
client. She is the IR face for QSI through her seamless relationship with the
company.
In this capacity, she provides integrated corporate communications services –
including public relations, investor relations and marketing support - to
companies spanning a broad range of industries. PAIRELATIONS’ clients are
engaged in the healthcare, financial services, consumer services/durables, high
technology and professional services sectors.