Quality Systems Inc. Chief Executive Rusty Frantz is starting to “settle into my new role here” after replacing longtime leader Steven Plochocki in July.
Irvine-based Quality makes software that dentists and doctors use to manage their practices.
“I am pleased to report that I’ve started executing on the priorities I previously shared with you,” Frantz said on a conference call with investors and analysts.
The priorities, Frantz said, involved an “immediate focus or attention on our clients and our employees.”
He said he’s spent the majority of his time meeting with some of Quality’s larger clients, introducing himself to them “and gaining detailed insight about our relationships with them.”
Quality wants to provide its clients “with the capabilities necessary for them to stay relevant in this evolving healthcare market and arm them with the tools they need to drive as they move from fee-for-service toward value-based reimbursement,” the new chief executive said.
Frantz also said he was learning about “the talents of our very expansive team” at Quality, saying that it’s been helpful to quickly get up to speed on the company’s business and culture.
He said client satisfaction is improving, something that will expand the company’s opportunity to cross-sell products among core customers.
Frantz’ settling in comes during some other changes in Quality’s executive team.
Quality said in early August that Steve Puckett, who was executive vice president and chief technology officer, “resigned by mutual agreement” and that responsibility for Quality’s technology functions is now under Chief Operating Officer Daniel Morefield.
Puckett will remain with Quality until Nov. 13.
“I continue to take a detailed, fresh look at our technology initiatives in the context of what will be best for our customers in a dynamic healthcare environment that increasingly demands value-based care delivery, coordinated care and patient engagement,” Frantz said.
Quality added that it would use the transition period to “evaluate how to best structure its technology functions going forward, and also examine the prioritization, timing and application of investment and resources in its ongoing and contemplated technology development initiatives.”
$5M for Cannabinoid Developer
Costa Mesa-based Nemus Bioscience Inc. said it will sell $5 million worth of stock and warrants in a second round of financing.
Nemus is working on discovering, developing and commercializing cannabis-based therapies. It uses technology it licensed from the University of Mississippi.
The company said in a news release that when the deal is done, its previously issued series A preferred stock will convert to common stock and that the holders of it include a “number of strategic individual investors that invested a total of $1.45 million.”
Among the investors is Douglas Ingram, former president of Irvine-based Allergan Inc. [now Dublin-based Allergan PLC] and Nemus’ vice chairman.
Nvision Expands to Phoenix
Aliso Viejo-based Nvision Eye Centers Inc. bought Walman Eye Centers in central and west Phoenix from ophthalmic surgeon Gerald Walman.
A purchase price wasn’t disclosed.
Nvision clinics perform Lasik surgery. Cataract surgeries are also available at the centers.
The chain now has 24 clinics. Nvision also operates in California, Nevada and Oregon.
Nihon Signs Deal
Nihon Kohden America, which is based in Irvine, said this month that it signed a three-year agreement with Irving, Texas-based Novation to provide sleep assessment and neurodiagnostic services and equipment. The contract took effect July 1.
Nihon said in a news release that the deal gives it access to the more than 100,000 members Novation serves, including members of VHA Corp. and the Children’s Hospital Association.
Nihon “provided competitive clinical and financial value for the members and affiliates we serve,” said Mike Clemens, Novation’s vice president of contracts and program services.
Bits & Pieces
Irvine-based CombiMatrix Corp. said its chromosomal microarray analysis prenatal diagnostic test was approved by the New York Department of Health. The approval allows the diagnostic testing provider to market the product in New York state. … Orange County Global Medical Center in Santa Ana and Anaheim Global Medical Center received recognition from HealthGrades, a rating organization, as top hospitals in the U.S. for coronary intervention, cardiac surgery and coronary bypass surgery.
