UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  January 8, 2015

 

Streamline Health Solutions, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware

 

0-28132

 

31-1455414

(State or other jurisdiction of
incorporation)

 

(Commission File Number)

 

(I.R.S. Employer Identification No.)

 

1230 Peachtree Street, NE, Suite 600

Atlanta, GA 30309

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (404) 446-2052

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 5.02              Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On January 8, 2015, Streamline Health Solutions, Inc. (the “Company”) announced that David Sides, 44, has been appointed President and Chief Executive Officer and a member of the Board of Directors of the Company, effective January 8, 2015. Mr. Sides had been previously serving as Executive Vice President and Chief Operating Officer of the Company.

 

In connection with Mr. Sides’s appointment as President and Chief Executive Officer and a member of the Board of Directors of the Company, the Company and Mr. Sides entered into an amendment to his existing employment agreement, dated January 8, 2015 (the “Amendment”). Pursuant to the Amendment, Mr. Sides’s annual salary was increased from $275,000 to $300,000, his severance level on a qualifying termination of employment was increased from 75% to 100% of salary and bonus, and his position and duties were revised to reflect his appointment as President and Chief Executive Officer. The initial term of the agreement was extended from September 9, 2016 to January 8, 2017. All other terms of Mr. Sides’s employment agreement with the Company remained the same. The Company also granted Mr. Sides an option to purchase 50,000 shares of the Company’s common stock for an exercise price of $4.28 per share. Half of this option will vest on January 8, 2016 and the other half will vest at the rate of one-twelfth on each of the one-month anniversaries of January 8, 2015.

 

A copy of the Amendment is filed as an exhibit to this Current Report on Form 8-K and is incorporated herein by reference. The summary of the material terms of the Amendment set forth above is qualified in its entirety by reference to such exhibit.

 

Robert E. Watson has resigned from his positions as President and Chief Executive Officer of the Company, effective January 8, 2015, to become President of NantHealth, LLC. Mr. Watson will continue to serve as a director on the Board of Directors of the Company.

 

In connection with Mr. Watson’s separation, the Company and Mr. Watson entered into a Separation Agreement, dated January 8, 2015 (the “Separation Agreement”), under which Mr. Watson will provide transition and advisory services to the Company until July 8, 2015 in exchange for a (i) payment of $200,000 and (ii) grant of 59,244 shares of the Company’s restricted common stock. The restricted common stock vests at the rate of one-sixth on each of the one-month anniversaries of January 8, 2015. In addition, the Separation Agreement provides that any options to purchase shares of the Company’s common stock held by Mr. Watson will continue to vest in accordance to their terms through the earlier of (i) the date on which Mr. Watson is no longer a director on the Board of Directors of the Company or (ii) May 31, 2015.

 

A copy of the Separation Agreement is filed as an exhibit to this Current Report on Form 8-K and is incorporated herein by reference. The summary of the material terms of the Separation Agreement set forth above is qualified in its entirety by reference to such exhibit.

 

Item 9.01              Financial Statements and Exhibits.

 

(d)  Exhibits.

 

EXHIBIT

 

 

NUMBER

 

DESCRIPTION

 

 

 

10.1

 

Separation Agreement, dated January 8, 2015, by and between Streamline Health Solutions, Inc. and Robert E. Watson

10.2

 

Amendment to Employment Agreement, dated January 8, 2015, by and between Streamline Health Solutions, Inc. and David Sides

99.1

 

Press release, dated January 8, 2015

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

Streamline Health Solutions, Inc.

 

 

 

 

Date: January 9, 2015

By:

/s/ Jack W. Kennedy Jr.

 

Name: Jack W. Kennedy Jr.

 

Title: Senior Vice President & Chief Legal Counsel

 

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INDEX TO EXHIBITS

 

EXHIBIT

 

 

NUMBER

 

DESCRIPTION

 

 

 

10.1

 

Separation Agreement, dated January 8, 2015, by and between Streamline Health Solutions, Inc. and Robert E. Watson

10.2

 

Amendment to Employment Agreement, dated January 8, 2015, by and between Streamline Health Solutions, Inc. and David Sides

99.1

 

Press release, dated January 8, 2015

 

4


Exhibit 10.1

 

SEPARATION AND RELEASE AGREEMENT

 

This Separation and Release Agreement (the “Agreement”) is made as of January 8, 2015 by and between Streamline Health Solutions, Inc., a Delaware corporation (the “Company”), and Robert E. Watson (“Executive”).  The Company and Executive are collectively referred to herein as the “Parties.”

 

WHEREAS, the Company and Executive are parties to that certain employment agreement dated as of April 22, 2013 (the “Employment Agreement”), pursuant to which Executive currently serves as President and Chief Executive Officer of the Company;

 

WHEREAS, Executive has decided to resign from his employment with the Company in order to become the President of Nant Health, LLC;

 

WHEREAS, the Parties desire to terminate their employment relationship amicably and to terminate the Employment Agreement (except as otherwise explicitly provided herein and therein);

 

WHEREAS, the Company desires to engage Executive to perform certain transition services following the termination of Executive’s employment with the Company, and Executive desires to provide such services.

 

NOW, THEREFORE, for and in consideration of the promises and the consideration more fully set forth herein, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the Company and Executive mutually agree as follows:

 

1.             Separation Date.  Executive’s termination of employment with the Company will be effective as of the date hereof (the “Separation Date”).  Executive shall resign from his position as an officer of the Company and any other positions he may hold with the Company or any of its affiliates as of the Separation Date, and Executive agrees that he will execute any and all documents necessary to effect such resignations.

 

2.             Board Service.  Notwithstanding the provisions of Section 1 of this Agreement, Executive shall remain a member of the Board of Directors of the Company (the “Board”).

 

3.             Payments and Benefits.

 

(a)           Accrued Obligations.  On the Separation Date (or as soon as administratively practicable thereafter), the Company shall (i) pay Executive his accrued but unpaid salary through the Separation Date, subject to any applicable withholding; and (ii) reimburse expenses incurred by Executive prior to the Separation Date for which Executive is entitled to reimbursement under the Company’s expense reimbursement policies.  Executive acknowledges that he shall have no right to receive any bonus payment with respect to 2014.

 



 

(b)           Benefit Plans.  Executive’s participation in the Company’s employee benefit plans and arrangements shall terminate effective as of the Separation Date, except as provided herein and except for any benefits under such plans or arrangements that may provide for later termination in accordance with the provisions of such plan or arrangement.

 

(c)           COBRA.  Executive shall retain any rights he may have under the federal Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), or any similar state law, to elect continuation of certain healthcare coverage after the Separation Date.

 

(d)           Transition Services Payment.   So long as Executive has executed and not revoked this Agreement, and so long as Executive is in compliance with the terms of this Agreement and the surviving provisions of the Employment Agreement as of the Payment Date (as defined below), the Company shall pay to Executive a lump sum of $200,000  within ten (10) days following the lapse of the revocation period set forth in Section 6 below (the date of such payment, the “Payment Date”).

 

(e)           Equity Awards.  So long as Executive has executed and not revoked this Agreement, (i) and subject to the approval of the Board, Executive shall be granted 59,244 shares of restricted common stock of the Company (the “Restricted Stock”), which Restricted Stock shall vest at the rate of one-sixth (1/6) on each of the one-month anniversaries of the Separation Date; and (ii) any options to acquire common stock of the Company held by Executive as of the Separation Date (the “Options”) shall continue to vest in accordance with their terms through the earlier of (A) the date on which Executive is no longer a member of the Board or (B) May 31, 2015.  Notwithstanding the terms of any stock option agreements between the Company and Executive or the applicable Company equity plans, the Company agrees that Executive shall have a period of six months following the later of the last day on which he provides Transition Services to the Company (as defined below) or the last day on which he serves as a member of the Board to exercise his right to exercise any of his vested Options; provided, however, that no Option shall be exercisable following its expiration date.  Any continued vesting referred to in this Section 3(e) shall be subject to Executive’s compliance with the terms of this Agreement and the surviving provisions of the Employment Agreement.

 

(f)            Section 409A of the Internal Revenue Code.  This Agreement is intended to comply with, or otherwise be exempt from, Section 409A of the Internal Revenue Code of 1986, as amended and the regulations promulgated thereunder (“Section 409A”). Notwithstanding any provision to the contrary in this Agreement, no payment or distribution under this Agreement that constitutes an item of deferred compensation under Section 409A, and becomes payable by reason of Executive’s termination of employment with the Company will be made to Executive unless Executive’s termination of employment constitutes a “separation from service” (as the term is defined Section 409A) to the extent required to avoid accelerated taxation or tax penalties under Section 409A in respect of such amounts.  For purposes of this Agreement, each amount to be paid or benefit to be provided shall be construed as a separate identified payment for purposes of Section 409A.  It is intended that this Agreement shall comply with the provisions of Section 409A so as not to subject Executive to the payment of additional taxes and interest under Section 409A.  In furtherance of this intent, the Agreement shall be interpreted, operated, and administered in a manner consistent with these intentions.  Amounts reimbursable under this Agreement shall be reimbursed promptly, but in any event no later than by December 31 of the year following the year in which such expenses were incurred.  The amount of such expenses eligible for reimbursement in one calendar year shall not affect the amount of expenses eligible for reimbursement in any other calendar year, and Executive’s right to reimbursement of any such expenses shall not be subject

 

2



 

to liquidation or exchange for any other benefit.  The Company makes no representation that any or all of the payments described in this Agreement will be exempt from or comply with Section 409A of the Code.

 

4.             Transition Services.  In consideration for the payment described in Section 3(d) and the granting of the Restricted Stock, Executive shall render transition services (the “Transition Services”) from the Separation Date through the date which is six (6) months following the Separation Date (the “Transition Period”).  Such Transition Services shall consist of cooperating and providing assistance in effectuating a smooth transition of Executive’s duties and responsibilities to his successor (and/or other person or persons as may be requested by the Board) by providing advice and assistance as to shareholder relations, customer relations, sales, leadership coaching and general transitional matters.  During the Transition Period, Executive shall devote his efforts and attention to the business of the Company on an as needed basis at mutually-convenient times as reasonably requested by the Company, with such services not to materially interfere with Executive’s performance of his duties and responsibilities for Nant Health, LLC, and not to exceed twenty (20) percent of his average level of services prior to the Separation Date, determined in accordance with Section 409A, the intention of the Parties being that the level of services which are required under this Section 4 are such that the date of Executive’s “separation from service” for purposes of Section 409A shall be the Separation Date.  The Company and Executive each acknowledge and agree that, during the Transition Period, Executive shall serve as an independent contractor and not as an employee of the Company.  The Company and Executive hereby covenant with one another to treat the engagement of Executive during the Transition Period as that of an independent contractor, and not an employee, for all purposes.  During the Transition Period, Executive shall (a) be engaged by the Company to exercise his own independent and professional judgment in performing services; (b) determine the manner, means, details and methods used in performing the services; (c) not have any right or authority to assume or create any obligation or responsibility, express or implied, on behalf of or in the name of the Company, or to bind the Company in any manner, except as may be authorized in writing by a duly authorized officer or manager of the Company, and shall not make any contrary representation to any third party.

 

5.             Release.  Executive, on behalf of himself, his executors, administrators, successors and assigns, now and forever hereby unconditionally release and discharge the Company, together with all of the Company’s past and present affiliates, together with each of their owners, members, stockholders, officers, directors, partners, employees, agents, representatives and attorneys, and each of their estates, heirs, family members, predecessors, successors, and assigns (hereinafter collectively referred to as the “Releasees”) from any and all rights, claims, charges, actions, causes of action, complaints, sums of money, suits, debts, covenants, contracts, agreements, promises, obligations, damages, demands or liabilities of every kind whatsoever, in law or in equity, whether known or unknown, suspected or unsuspected (“Claims”), which Executive or his executors, administrators, successors or assigns ever had, now have or may hereafter claim to have by reason of any matter, cause or thing whatsoever, arising from the beginning of time up to the date Executive signs this Agreement including, but not limited to, (a) any Claims arising under any constitution, or any federal, local or state statute or regulation, including, without limitation, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Americans with Disabilities Act of 1990, the Age Discrimination in Employment Act, the Older Workers Benefits Protections Act, the Family and Medical Leave Act, the Equal Pay Act, the Rehabilitation Act, and the Employee Retirement Income Security Act of 1974, the Immigration and Reform Control Act, the Uniform Services Employment and Re-Employment Act, the Worker Adjustment and Retraining Notification Act, the Georgia Equal Pay Act, the Georgia Prohibition of Age Discrimination in Employment Act and the Georgia Equal Employment for Persons with Disabilities Code; (b) relating in any way to Executive’s employment relationship with the Company or any of the Releasees, or the termination of Executive’s employment relationship with the Company or any of the Releasees; (c) any Claims based in tort, wrongful termination or breach of contract; and (d) arising under or relating to any policy, agreement, understanding or promise, written or oral, formal or informal, between the Company

 

3



 

and any of the Releasees and Executive, including, but not limited to, the Employment Agreement; provided, however, that notwithstanding the foregoing, nothing contained in this Agreement shall in any way diminish or impair any rights Executive may have (a) under this Agreement; (b) with respect to any claim that cannot legally be waived, including but not limited to workers’ compensation benefits claims and unemployment benefits claims; (c) with respect to indemnification arising under the charter or by-laws of the Company (and/or its affiliates), or under any applicable statutory or common law; (d) under the director and officer insurance policy or policies of the Company; and (e) with respect to his existing Company equity and equity rights, including, without limitation, the Options and the Restricted Stock (collectively, the “Excluded Claims”). Executive understands and agrees that, except for the Excluded Claims, Executive has knowingly relinquished, waived and forever released any and all rights to any personal recovery in any action or proceeding that may be commenced on Executive’s behalf arising out of the aforesaid employment relationship or the termination thereof, including, without limitation, claims for back pay, front pay, liquidated damages, compensatory damages, general damages, special damages, punitive damages, exemplary damages, costs, expenses and attorneys’ fees.  By signing this Agreement, Executive represents and warrants that Executive has not commenced or joined in any charge, claim, action or proceeding whatsoever against any of the Releasees arising out of or relating to any of the matters set forth this Section 5.  Executive acknowledges that neither the offer to Executive of this Agreement nor the payments and benefits set forth herein is intended to, or shall be construed as, an admission of liability or of any improper conduct on the part of the Company or any other Releasee.

 

6.             Consideration and Revocation Period; Voluntary Agreement.  In accordance with the Older Workers Benefit Protection Act of 1990 and the Age Discrimination in Employment Act, Executive is aware of and agrees to the following: (a) Executive has been advised to consult with an attorney of his choosing before signing this Agreement; (b) Executive has been given twenty-one (21) days to consider this Agreement, although Executive may sign it sooner; (c) once Executive signs this Agreement, Executive has seven (7) days to revoke Executive’s consent to this Agreement; (d) any such revocation shall be made in writing so as to be received by Company by hand or overnight delivery prior to the eighth (8th) day following Executive’s execution of this Agreement; and (e) if no such revocation occurs, this Agreement shall become effective on the eighth (8th) day following Executive’s execution of this Agreement.  In the event that Executive revokes his consent as permitted above, or does not sign the Agreement within the twenty-one (21) day period referenced in Section 6(b), this Agreement shall be null and void and Executive shall not be entitled to any payments or benefits hereunder.  Executive further represents and agrees that, absent this Agreement, he would not be entitled to the payments and benefits set forth above in Sections 3(d) and 3(e).

 

7.             Termination of Employment Agreement; Survival of Restrictive Covenants.   The Parties agree that the Employment Agreement shall terminate and be of no further effect, effective as of the Separation Date, except for Sections 7, 8 and 9 thereof, which shall survive termination of the Employment Agreement.  The Parties further agree that Executive’s employment with Nant Health, LLC shall not constitute a breach of any of Sections 7-9 of the Employment Agreement.

 

8.             No Additional Obligations.  The Company shall not be obligated to pay any other sums to Executive or to provide any other benefits to Executive after the Separation Date, except as set forth in this Agreement.

 

9.             Successors and Assigns.  This Agreement shall inure to the benefit of and be binding upon the respective successors and (in the case of the Company) assigns of the Parties to this Agreement, and each of them.

 

10.          Choice of Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Georgia without regard to its conflicts of laws rules.  Executive acknowledges and

 

4



 

agrees that Executive is subject to personal jurisdiction in state and federal courts in Fulton County, Georgia, and waives any objection thereto.

 

11.          Severability.  If any provision of this Agreement shall be held invalid, void or unenforceable by a court of competent jurisdiction, the remaining provisions shall not be affected thereby and shall remain in full force and effect.  In the event that any covenant contained herein is not enforceable in accordance with its terms, Executive and the Company agree that such provision shall be reformed to make it enforceable in a manner that provides as nearly as possible the result intended by this Agreement.

 

12.          Entire Agreement.  This Agreement contains the entire agreement between the Parties pertaining to the subject matter hereof.  No covenants, agreements, representations, or warranties of any kind whatsoever, whether express or implied in law or fact, have been made by the Parties, except as specifically set forth herein.  This Agreement supersedes any and all prior and contemporaneous agreements, term sheets, negotiations and understandings, whether written or oral, pertaining to the subject matter hereof.

 

13.          Modifications.  No modification, amendment, or waiver of any of the provisions contained in this Agreement, or any future representations, promise, or condition in connection with the subject matter of this Agreement, shall be binding upon any party to this Agreement unless made in writing and signed by such party.

 

14.          Voluntary Agreement.  EXECUTIVE ACKNOWLEDGES THAT HE HAS READ AND UNDERSTANDS THE FOREGOING PROVISIONS AND THOSE SUCH PROVISIONS ARE REASONABLE AND ENFORCEABLE.  EXECUTIVE FURTHER ACKNOWLEDGES THAT HE HAS SIGNED THIS AGREEMENT AS HIS OWN AND VOLUNTARY ACT.

 

15.          Notice.  All notices or other communications required or permitted by this Agreement: (a) must be in writing; (b) must be delivered to each party at the address set forth below, or any other address that a party may designate by notice to the other party; and (c) are considered delivered on the earlier of: (a) on the date of delivery if delivered personally or (b) on the first business day following the date of dispatch if sent by a nationally recognized overnight courier (providing proof of delivery), in each case to the parties at the following addresses (or at such other address for a party as shall be specified by like notice), if to Executive, at his current address on file with the Company or such different address as Executive may provide the Company in writing and if to the Company at its corporate headquarters, attention: Chairman of the Board.

 

16.          Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, and such counterparts when taken together shall constitute but one instrument.

 

[Signatures appear on the following page]

 

5



 

IN WITNESS WHEREOF, and intending to be legally bound hereby, the Parties hereby execute this Agreement as of the first date set forth below.

 

 

ROBERT E. WATSON

 

 

 

 

DATED: January 8, 2015

/s/ Robert E. Watson

 

 

 

 

 

STREAMLINE HEALTH SOLUTIONS, INC.

 

 

 

 

DATED: January 8, 2015

By:

/s/ Jonathan R. Phillips

 

Name: Jonathan R. Phillips

 

Title: Chairman of the Board

 


Exhibit 10.2

 

AMENDMENT TO EMPLOYMENT AGREEMENT

 

THIS AMENDMENT (the “Amendment”) is made by and between Streamline Health Solutions, Inc., a Delaware corporation (the “Company”), and David Sides (“Executive”), effective as of January 8, 2015 (the “Effective Date”).

 

RECITALS

 

WHEREAS, the Company and Executive entered into an Employment Agreement as of September 10, 2014 (the “Agreement”);

 

WHEREAS, Executive is being promoted to President and Chief Executive Officer of the Company as of the Effective Date; and

 

WHEREAS, the Company and Executive now wish to amend the Agreement as set forth below in connection with such promotion.

 

NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned, intending to be legally bound hereby, agree as follows:

 

1.                                      Section 2 of the Agreement is hereby amended and restated in its entirely to read as follows:

 

2.                                      POSITION AND DUTIES

 

During the Term (as defined in Section 10 of this Agreement), Executive will be employed as President and Chief Executive Officer of the Company, and may also serve as an officer or director of affiliates of the Company for no additional compensation as part of Executive’s services to the Company hereunder.  While employed hereunder, Executive will do all things necessary, legal and incident to the above positions, and otherwise will perform such executive-level functions as the Board of Directors of the Company (the “Board”), to whom Executive will report, may establish from time to time.

 

2.                                      Section 10 of the Agreement is hereby amended to replace the reference to “September 9, 2016” with “January 8, 2017.”

 

3.                                      Sections 11(d) and 13(a) of the Agreement are hereby amended to replace the reference to “seventy-five percent (75%)” with “one hundred percent (100%).”

 

4.                                      Section 2 of Exhibit A to the Agreement is hereby amended to replace the references to “$275,000” with “$300,000.”

 



 

5.                                      Except as modified by this Amendment, the Agreement shall remain in full force and effect.

 

[signature page follows]

 

2



 

IN WITNESS WHEREOF, this Amendment has been executed by the parties hereto, effective as of the Effective Date.

 

 

STREAMLINE HEALTH SOLUTIONS, INC.

 

 

 

 

 

By:

/s/ Jonathan R. Phillips

 

Its:

Chairman of the Board

 

 

 

 

 

January 8, 2015

 

Date

 

 

 

 

 

EXECUTIVE

 

 

 

/s/ David Sides

 

David Sides

 

 

 

January 8, 2015

 

Date

 


Exhibit 99.1

 

 

News Release

 

STREAMLINE HEALTH ANNOUNCES PROMOTION OF CHIEF OPERATING OFFICER DAVID SIDES TO PRESIDENT AND CEO

 

Robert E. Watson Named President of NantHealth, a Key Streamline Client; Remains On Streamline Board of Directors

 

Atlanta, Georgia — January 8, 2015 — Streamline Health Solutions, Inc. (NASDAQ: STRM), a leading provider of transformational data-driven solutions to help healthcare providers reduce exposure to risk, enhance clinical, financial, and operational performance, and improve patient care, today announced the promotion of its Executive Vice President and Chief Operating Officer, David Sides to President and Chief Executive Officer, replacing Robert E. Watson who is leaving the Company to become President of NantHealth, LLC.  Watson will remain on the Company’s Board of Directors.

 

David Sides, a former Cerner executive, was hired as EVP and COO on September 9, 2014 to oversee operations, solutions development and client services.  He had previously served as CEO of iMDSoft, a provider of clinical information systems and electronic medical records for critical, perioperative and acute care organizations.

 

“I’m more excited today about our prospects for the future than I was when I joined the company back in September,” stated David Sides, President and CEO, Streamline Health Solutions, Inc.   “Of the many opportunities I was offered last summer, I found Streamline to be the most compelling.  The Company is just now beginning the third year of its five-year strategic plan, and from my perspective, it’s all about execution.  The primary assets have been assembled and the Looking Glass® platform implemented.  As President and CEO I will continue to focus my energies on executing against our plan going forward.”

 

“We are pleased to have David Sides on board as President and CEO,” stated Jon Phillips, Chairman of the Board of Streamline Health Solutions, Inc.   “David and Bob have a long and successful history of working together and will continue to do so with Bob remaining on our Board of Directors, and in his new role as President of NantHealth.”

 

Streamline Health recently completed a multi-million dollar, multi-year term license contract with NantHealth to provide its Looking Glass® Clinical Analytics solution to NantHealth’s cloud-based intelligent clinical operating systems.   NantHealth founder and CEO Dr. Patrick Soon-Shiong worked directly with Bob Watson, Streamline Health’s President and CEO to complete that contract, which led to the discussions resulting in Watson joining Soon-Shiong at NantHealth.  “We view Streamline Health as a leading provider of data-driven solutions to improve the business of providing quality healthcare

 



 

and look forward to working together with them to augment our efforts to cure cancer in our lifetime,” stated Soon-Shiong.

 

About Streamline Health

 

Streamline Health Solutions, Inc. (NASDAQ: STRM) is a healthcare industry leader in capturing, aggregating, and translating enterprise data into knowledge — actionable insights that reduce exposure to risk, enhance operational performance, and improve patient care. Through our Looking Glass® Platform we provide clients with meaningful, intelligent SaaS-based solutions from patient engagement to reimbursement. We share a common calling and commitment to advance the quality of life and the quality of healthcare — for society, our industry, our clients, the communities they serve, and the individual patient. For more information, please visit our website at www.streamlinehealth.net.

 

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995

 

Statements made by Streamline Health Solutions, Inc. that are not historical facts are forward-looking statements that are subject to risks and uncertainties and are no guarantee of future performance. The forward-looking statements contained herein are subject to certain risks, uncertainties and important factors that could cause actual results to differ materially from those reflected in the forward-looking statements, included herein. Forward-looking statements contained in this press release include, without limitation, statements regarding the Company’s expectations of future operating performance, its relationship with NantHealth, and related expectations and assumptions. These risks and uncertainties include, but are not limited to, the timing of contract negotiations and execution of contracts and the related timing of the revenue recognition related thereto, the potential cancellation of existing contracts or clients not completing projects included in the backlog, the impact of competitive solutions and pricing, solution demand and market acceptance, new solution development, key strategic alliances with third parties, including vendors that resell the Company’s solutions, the ability of the Company to control costs, availability of solutions from third party vendors, the healthcare regulatory environment, potential changes in legislation, regulation and government funding affecting the healthcare industry, healthcare information systems budgets, availability of healthcare information systems trained personnel for implementation of new systems, as well as maintenance of legacy systems, fluctuations in operating results, effects of critical accounting policies and judgments, changes in accounting policies or procedures as may be required by the Financial Accountings Standards Board or other similar entities, changes in economic, business and market conditions impacting the healthcare industry generally and the markets in which the Company operates and nationally, and the Company’s ability to maintain compliance with the terms of its credit facilities, and other risks detailed from time to time in the Streamline Health Solutions, Inc. filings with the U. S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s analysis only as of the date hereof. The Company undertakes no obligation to publicly release the results of any revision to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

 

Company Contact:

Randy Salisbury

SVP, Chief Marketing Officer

(404)-920-2412

Randy. Salisbury@streamlinehealth.net