API Healthcare Announces 60 Percent Year-Over-Year Sales Growth in 2012

HARTFORD, Wis. --(Business Wire)--

API Healthcare, the leader in healthcare-specific workforce management technology, today announced a 60 percent year-over-year increase in sales bookings. The Company's 30^th year of operation was also a record year in a long line of successful growth years. Record bookings in the fourth quarter of 2012 were a result of the Company signing dozens of health systems and staffing agencies seeking to optimize their workforce.

"Our strong financial performance in 2012 is highlighted by double-digit growth in sales bookings, revenue and EBITDA," said J.P. Fingado, president and chief executive officer, API Healthcare. "That growth positions API Healthcare to continue to deliver innovative solutions and our distinctive strong service levels to the market. As the healthcare industry continues to adapt to the dynamic challenges of healthcare reform, we anticipate the increased demand for innovative workforce management solutions will carry over into 2013 and well beyond."

"The growth trajectory can be attributed to a number of factors. Decreasing reimbursements, increasing health system operating expenses and more focus on quality have directed healthcare executives to place a great deal of attention on the labor pool," said Fingado. "With labor costs amounting to an estimated 60 percent of these operating costs, and the need to optimize the placement of staffing resources from both a financial and quality perspective, many leading healthcare systems are shifting to API Healthcare's integrated platform of staffing, time and attendance, human resources and paroll and talent management solutions."

"Like every hospital, Kadlec Regional Medical Center is committed to delivering quality patient care," said Dave Roach, vice president IT/CIO, CPHIMS, Kadlec Regional Medical Center, Richland, WA. "API Healthcare helped us combine this commitment to quality with innovative, workforce technology solutions to develop the electronic employee record for our organization - providing for better efficiency of our entire workforce. Kadlec looks forward to many more years of successful partnership as we collaborate to ensure our mutual success."

A sample of the healthcare systems recently signed include:

Baptist Health, Louisville, KY
Boston Children's Hospital, Boston, MA
Fairfield Medical Center, Lancaster, OH
Memorial Sloan-Kettering Cancer Center, New York, NY

The year was also highlighted by API Healthcare being named "Category Leader" for Staff/Nurse Scheduling and for Time and Attendance categories in the 2012 Best in KLAS Awards: Software and Services report.

About API Healthcare

API Healthcare (www.apihealthcare.com) is the largest healthcare-specific vendor focused on workforce management solutions for the healthcare industry. Driven by the mission to elevate quality and performance across the healthcare community through innovative workforce solutions and services, API Healthcare has been dedicated to the healthcare industry for more than 30 years. The company's staffing and scheduling, patient classification, human resources, talent management, payroll, time and attendance, business analytics, and staffing agency solutions are used by more than 1,600 hospitals and staffing agencies. Founded in 1982, API Healthcare has been rated by KLAS in the Top 20 Best in KLAS Awards Report (www.KLASresearch.com) as the top time and attendance provider system for the last 11 years (2002-2012) and the top staffing and scheduling solution in 2012.

About KLAS

KLAS is a research firm on a global mission to improve healthcare delivery by enabling providers to be heard and to be counted. Working with thousands of healthcare executives and clinicians, KLAS gathers data on software, services, medical equipment, and infrastructure systems to deliver timely reports, trends, and statistical overviews. The research directly represents the provider voice and acts as a catalyst for improving vendor performance. KLAS was founded in 1996, and their staff and advisory board average 25 years of healthcare information technology experience. Follow KLAS on Twitter (News - Alert) at www.twitter.com/KLASresearch.