QuadraMed Stockholder Meeting to be Held on March 9, 2010; Delaware Chancery Court Denies Preliminary Injunction
March 09 2010 - 9:00AM
Business Wire
QuadraMed® Corporation (NASDAQ:QDHC), a leading provider of
healthcare information technologies and services that help turn
quality care into positive financial outcomes, announced today that
on March 8, 2010, the Court of Chancery of the State of Delaware
issued an opinion denying LC Capital Master Fund, Ltd.’s motion for
a preliminary injunction of QuadraMed’s proposed acquisition by
Francisco Partners.
QuadraMed’s previously announced special meeting of stockholders
will be held as scheduled at 12 p.m. EST on March 9, 2010 at the
Hyatt Dulles in Herndon, Virginia. At this meeting, QuadraMed’s
common stockholders will vote on a proposal to adopt the Agreement
and Plan of Merger, dated December 7, 2009, by and between
QuadraMed, Bavaria Holdings Inc., a Delaware corporation and an
affiliate of Francisco Partners, and Bavaria Merger Sub, Inc., a
Delaware corporation and wholly owned subsidiary of Bavaria
Holdings Inc. QuadraMed intends to announce the results of this
special meeting shortly after the conclusion of the meeting.
About QuadraMed Corporation
QuadraMed® – (NASDAQ:QDHC) is a leading provider of healthcare
technologies and services that help turn quality care into positive
financial outcomes. QuadraMed provides innovative solutions that
streamline processes, ensure compliance and help healthcare
professionals deliver quality patient care. 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.
About Francisco Partners
With approximately $5.0 billion of committed capital and offices
in San Francisco and London, Francisco Partners is one of the
world’s largest technology-focused private equity funds. The firm
was founded to pursue structured investments in technology
companies undergoing strategic, technological, and operational
inflection points. Francisco Partners targets majority and minority
investments in private companies, public companies, and divisions
of public companies, with transaction values ranging from $30
million to $2.0 billion. The principals of Francisco Partners have
a proven track record, having invested in excess of $3.0 billion of
equity capital in over 50 technology companies. For additional
information, visit www.franciscopartners.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
that are subject to risks and uncertainties. The words “believe,”
“expect,” “target,” “goal,” “project,” “anticipate,” “predict,”
“intend,” “plan,” “estimate,” “may,” “will,” “should,” “could” and
similar expressions and their negatives are intended to identify
such statements, including, without limitation, statements
regarding the expected benefits and closing of the proposed merger,
the management of the company and the company's expectations,
beliefs and intentions. Forward-looking statements are not
guarantees of litigation results, future performance, anticipated
trends or growth in businesses, or other characterizations of
future events or circumstances and are to be interpreted only as of
the date on which they are made. Neither QuadraMed nor any other
person undertakes any obligation (and expressly disclaims any such
obligation) to update or revise any forward-looking statement. You
should not place undue reliance on these forward-looking
statements. Our actual results could differ materially and
adversely from those anticipated in these forward-looking
statements for many reasons, including failure to obtain
stockholder approval of the proposed merger; failure to obtain,
delays in obtaining or adverse conditions contained in any required
approvals; failure to consummate or delay in consummating the
transaction for other reasons, in addition to the risks faced by
QuadraMed described in documents filed with the Securities and
Exchange Commission ("SEC") from time to time. 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.
Quadramed Corp (MM) (NASDAQ:QDHC)
Historical Stock Chart
From Jul 2024 to Aug 2024
Quadramed Corp (MM) (NASDAQ:QDHC)
Historical Stock Chart
From Aug 2023 to Aug 2024