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Revenue, Losses Up for QuadraMed


May 9, 2008

Hospital information systems vendor QuadraMed Corp. lost $1.1 million during the first quarter of 2008. The Reston, Va.-based firm earned $1.3 million during the same period last year.

Quarterly revenue increased 21% to $35.3 million, which was an important step in the company hitting its 2008 revenue target, says Keith Hagen, president and CEO.

Cash and investments at the end of the quarter totaled $22.1 million, compared with $17.5 million at the end of the fourth quarter of 2007.

During the quarter, QuadraMed made the first sale of its new core clinical information system, QCPR, since last fall’s acquisition of the Misys CPR product from Misys Healthcare Systems. The buyer, Sibley Memorial Hospital in Washington, is upgrading from QuadraMed’s Affinity clinical system. QuadraMed will maintain Affinity and update it for regulatory compliance, but will not enhance or market it.

For more information, visit quadramed.com.

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