Practice Velocity Shares Company Ownership
CEO announces employee stock ownership plan
MACHESNEY PARK, IL (March 31, 2017) – Practice Velocity President and CEO Dr. David Stern informed the company’s employees that they were becoming owners of the company. The software engineering firm, which specializes in medical records and billing software, announced an employee stock ownership plan for its 240 employees on Friday.
“[The employees] have shown themselves as confident and capable of handling this business, and I have total faith that this group is going to be totally amazing,” said Stern, during his announcement speech. “The time comes, when you know you need to do something big to make the company take it to the next level, and this is it,” said Stern.
Dr. Stern thanked Practice Velocity employees for their commitment to the company and for working as owners by cutting expenses and putting in extra hours to complete projects. “I’m not giving you a gift – you’re getting something that you’ve earned,” said Dr. Stern.
Machesney Park Village President Jerry Bolin, who was asked to attend the announcement as a special guest, thanked Dr. Stern and Practice Velocity for their investment at the Machesney Town Center. “Practice Velocity has been a catalyst for the new developments that will be made at the Town Center,” said Mayor Bolin, referring to the forthcoming Towncenter Living Community assisted living facility, Pita Pit restaurant and Maximum Performance Fitness Training center. “On behalf of the Village, I congratulate the employees for becoming new owners of this important company,” said Mayor Bolin.
Practice Velocity’s growth rates have been an average of 30% annually and the company is earning new clients each year. The company was recently recognized as providing the best urgent care EMR software by Klas Research. For more information about Practice Velocity, visit their website at www.practicevelocity.com.