Quality Systems to Buy MicroMed’s Assets

TUSTIN — Quality Systems Inc. said Monday that it has agreed to buy virtually all of the assets of privately held MicroMed Healthcare Systems Inc. in Atlanta for up to $10.8 million.

Quality Systems said it expects to take a first-quarter charge to cover a “significant” portion of the price for purchased research and development, provided the transaction closes by May 15. The first quarter ends June 30.

The Tustin-based company said the purchase price consists of $4.8 million cash. The company will also pay up to an additional $6 million no later than June 29, 1998, under a formula based primarily upon revenue and pretax operating income of the MicroMed business for the 12 months ending March 31, 1998.

Quality Systems said it will form a new unit from MicroMed’s assets.

MicroMed provides practice-management systems and services. Quality Systems develops and provides computer-based practice-management systems for medical and dental group practices.

For the first quarter ended June 30, 1996, Quality Systems reported a loss of $7.8 million, which included a charge of $8.3 million, for purchased research and development. It reported revenue of $4.8 million. (Dow Jones)