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): | June 17, 2014 |
HealthStream, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
Tennessee | 000-27701 | 621443555 |
_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
of incorporation) | File Number) | Identification No.) |
209 10th Ave. South, Suite 450, Nashville, Tennessee | 37203 | |
_________________________________ (Address of principal executive offices) |
___________ (Zip Code) |
Registrants telephone number, including area code: | 615-301-3100 |
Not Applicable
______________________________________________
Former name or former address, if changed since last report
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:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-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.
(b) On June 17, 2014, HealthStream, Inc., a Tennessee corporation (the "Company"), announced that Michael Sousa has been named Senior Vice President of Business Development of the Company. Mr. Sousa previously served as Senior Vice President of Sales of the Company since January 2010. Mr. Sousa transitioned in to his new role effective June 17, 2014.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit 99.1 Press Release of HealthStream, Inc., dated June 17, 2014.
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.
HealthStream, Inc. | ||||
June 17, 2014 | By: |
Gerard Hayden
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Name: Gerard Hayden | ||||
Title: Chief Financial Officer |
Exhibit Index
Exhibit No. | Description | |
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99.1
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Press release of HealthStream, Inc., dated June 17, 2014. |
EXHIBIT 99.1
For Immediate Release:
Media Contact:
HealthStream, Inc.
Mollie Condra, Ph.D.
Vice President, Investor Relations &
Communications
615) 301-3237
Mollie.condra@healthstream.com
HealthStream Expands Senior Leadership
Veteran healthcare technology sales executive Tom Schultz joins as new SVP, sales; Michael
Sousa, SVP, selected to lead key business development initiatives
Nashville, Tenn. (June 17, 2014) HealthStream, Inc. (NASDAQ: HSTM), a leading provider of workforce development and research / patient experience solutions for the healthcare industry, today announced that Thomas (Tom) Schultz has been hired to serve as senior vice president (SVP), sales. As a dynamic industry veteran, Tom brings extensive experience in technology solutions for the healthcare workforce. Concurrently, Michael Sousawho previously served as SVP, sales, achieving unparalleled success in growing revenueshas been selected to serve as SVP, business development. The Companys senior leadership is deepened and expanded by both of these roles as they are filled by seasoned executives with the skills, experience, and industry visibility to advance HealthStreams growth.
Tom Schultz, with 26 years of healthcare technology experience, comes most recently from Infor, Inc., where he was vice president of their healthcare business unit. In this role, Tom was responsible for healthcare solution sales. His work in that position began 16 years ago at Lawson Software (which was acquired by Infor in 2011) where he became the senior sales executive for the healthcare vertical, focused on selling integrated enterprise-level applications in human capital management, HRIS, analytics, clinical integration, financial management, and supply chain. Under Toms leadership, tremendous revenue growth was achieved, along with record-setting gains in their healthcare customer base.
In his new role as SVP, sales, Tom Schultz will be responsible for continuing to drive revenue growth and market share for HealthStream. His hands-on experience and keen understanding of healthcare organizations workforce and talent management needs makes Tom particularly qualified to further drive the Companys growth. HealthStream contracted approximately 1.7 million new subscribers to its market-leading workforce development platform in the four-year period from 2009 to 2013 alone, bringing the total number of subscribers on our platform to approximately 3.85 million. Moreover, a couple of our talent management applications on our platform, the Competency Center and Performance Center, are both rapidly gaining momentumhaving just added 50,000 subscribers last quarter. There is significant opportunity to further expand many of HealthStreams most sought-after solutionsas theyre used by healthcare organizations to meet compliance requirements, improve patients experiences, increase resuscitation rates, and streamline competency and performance management.
The timing couldnt be better; the innovative solutions that HealthStream offers to assess and develop the healthcare workforce are urgently neededand I am excited to lead their efforts to deliver them to healthcare organizations, said Tom Schultz. My experience in leading global sales teams will be well utilized as I step in to drive HealthStreams growth strategy. I look forward to working with this robust team to build on the market success that they have achieved so far.
As HealthStreams customer base has experienced significant growth, the Company has, concurrently, grown its eco-system of applications and partners. The growth of HealthStreams eco-system brings opportunities to develop new products, penetrate new markets, leverage our network and data, invest in new technologies and/or acquisitions, and create new revenue streams for the Company. HealthStream has chosen Michael Sousa to explore and lead such opportunities as SVP, business development.
During his 10-year tenure at Healthstream, Michael has provided executive-level leadership for sales strategy, new business acquisition, and revenue growth. He oversaw the design, launch, and growth of our HealthStream Strategic Accounts Program and HealthStream Professional Services, two successful initiatives. Further, he reengineered the HealthStream sales teams into an integrated, high-performing sales organization, increasing annual sales performance by 238 percent from 2009 to 2013. Prior to HealthStream, Michael held several consulting positions, including associate partner for IBM Business Consulting Services healthcare practice and managing consultant for PWC Consultings e-learning practice. His extensive knowledge of the healthcare industry, innovative uses of technology to create new solutions, and proven experience in building and leading high performing sales teams make him uniquely qualified to prioritize and launch new revenue-generating initiatives for the Company.
Great people are necessary for a great companyand, therefore, Im excited to expand our executive team with Tom Schultz as our SVP, sales and Michael Sousa in his new role as SVP, business development, said Robert A. Frist, Jr., chief executive officer, HealthStream. Our team is energized and strengthened by these two executives and the leadership they bring to the Company. Both are industry pros and I look forward to their leadership on our executive team.
About HealthStream
HealthStream (NASDAQ: HSTM) is dedicated to improving patient outcomes through the development of
healthcare organizations greatest asset: their people. Our unified suite of software-as-a-service
(SaaS) solutions is contracted by, collectively, approximately 3.85 million healthcare employees in
the U.S. for workforce development, training & learning management, talent management, performance
assessment, and managing simulation-based education programs. Our research solutions provide
valuable insight to healthcare providers to meet HCAHPS requirements, improve the patient
experience, engage their workforce, and enhance physician alignment. Based in Nashville, Tennessee,
HealthStream has additional offices in Laurel, Maryland, Brentwood, Tennessee, Pensacola, Florida,
and Jericho, New York. For more information, visit http://www.healthstream.com or call
800-933-9293.
This press release contains forward-looking statements that involve risks and uncertainties regarding HealthStream. Investors are cautioned that such results or events predicted in these statements may differ materially from actual future events or results. This information has been, or in the future may be, included in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such results or events predicted in these statements may differ materially from actual future events or results. The Companys statements regarding the acquisition of HCCS are subject to risks associated with the integration of its operations and the Companys updated financial outlook for 2014, while presented with numerical specificity, includes forward-looking statements which are based on a variety of assumptions regarding the Companys operating performance that may not be realized, and which are subject to significant uncertainties and potential contingencies associated with the Companys financial and accounting procedures and other matters referenced from time to time in the Companys filings with the Securities and Exchange Commission. Consequently, such forward-looking information should not be regarded as a representation or warranty by the Company that such projections will be realized.