QuadraMed / QD

About QuadraMed

12110 Sunset Hills Rd., Suite 600, Reston, Va. 20190
www.quadramed.com | 703-709-2300 | Founded: 1993

Industry: Information Technology | Category: Public Companies

QuadraMed returned to profitability in 2006, surviving a series of problems over several years, including an investigation by the Securities and Exchange Commission and financial problems that threatened the company with bankruptcy. QuadraMed resolved those problems and settled the SEC investigation with no findings of serious wrongdoing.
The management team the firm appointed in late 2005, led by chief executive Keith B. Hagen, has restructured the firm and developed a new strategy for growth. Instead of marketing individual products, such as its Affinity Health Care Information System, which has been praised in surveys of health-care providers, QuadraMed shifted its focus to providing technical solutions that respond to the challenges and needs of individual customers, Hagen said in an interview.
That approach appears to have paid off. QuadraMed serves more than 2,000 hospitals nationwide, including local institutions such as the University of Maryland Medical Center, Sibley Memorial Hospital and Inova Health System, which last year awarded QuadraMed a $3.4 million contract. The company also won a $20 million contract extension from the Department of Veterans Affairs to service VA medical centers nationwide.
The result: Sales grew by 25 percent in 2006, jumping to $84 million from $67 million in 2005. And the company's reported profit of $11.9 million for 2006 represented a big turnaround from a loss of $3.9 million in 2005.

2006 Financial Data

Revenues: $125,201,000 | Net Income: $11,945,000
Asssets: $116,198,000 | Earnings Per Share: $0.14
Total employees: 581 | Local employees: 222