News
Quovadx Integration Solutions Division Acquired by Battery Ventures
DALLAS-(Business Wire)-July 19, 2007 - The Integration Solutions Division (ISD) of Quovadx, Inc. today announced it has been acquired by Battery Ventures, a technology venture capital and private equity firm with nearly $3 billion under management. The company will retain the name Quovadx and will operate as a standalone company, delivering software and information technology solutions to the healthcare industry. The new organization will move forward with existing business and product plans related to QUOVADX(R) Cloverleaf(R) Integration Services, the healthcare industry's premier integration engine.
Quovadx also announced that Russell Fleischer has joined as chief executive officer, bringing 20 years of technical, operational and financial experience from the software and technology industries. Most recently, he served as CEO of TriSyn Group, an enterprise-class banking applications software company focused on the top 100 banks in the United States. Fleischer has also held numerous senior management positions at both public and private technology companies including: InConcert, CheckFree, Dun & Bradstreet Software and Sales Technologies.
Quovadx's senior management team, which has decades of healthcare industry experience, will report directly to Fleischer and will continue to guide Quovadx on a day-to-day basis. Remaining in their roles are: Carolyn Jolley, senior vice president of client services; Mike Epplen, senior vice president of sales and marketing; May Hu, senior vice president of research and development; and Paul Bellamy, senior vice president of international operations. Quovadx will also relocate its headquarters from Greenwood Village, Colo., to Dallas, with the new location immediately operational.
"I'm pleased to join a company with such a strong reputation in the healthcare industry, and believe we have a tremendous opportunity to evolve and enhance our products," said Russell Fleischer, CEO of Quovadx. "With the financial backing of Battery Ventures we will be able to pursue unique strategies to grow our business and extend our product set. This new chapter promises exciting developments, and I look forward to working with a very talented group of people to deliver significant value to existing and new customers."
About Quovadx, Inc.
Quovadx, with global headquarters in Dallas, offers private and public healthcare organizations software and services to facilitate system interoperability and leverage existing technology for operational improvements. For more information, please visit http://www.quovadx.com.
QUOVADX, the QUOVADX logo and Cloverleaf are registered trademarks of Quovadx, Inc. in the U.S. and other countries. All other company and product names mentioned may be trademarks of the companies with which they are associated.
