Good Overview of Epic
Mike Ivy wrote a good overview of Epic in the Capital Times, a few years back. If you’ve been wondering about Epic’s culture, history, or philosophy, it’s worth a read. Excerpts:
But precious little is really known about Epic Systems Corp. or its enigmatic founder, Judy Faulkner, a computer mastermind who developed one of the world’s first databases organized around an individual patient.
Launched in 1979 with $70,000 in cash and a $70,000 bank loan, Epic Systems has quietly emerged as one of the leading medical software companies in the world. Its recent growth has been astronomical: from 172 employees in 1996 to over 1,600 today. Sales topped $285 million last year, up 30 percent from 2003.
While many technology companies churn out press releases almost daily touting their latest product or sales deal in an effort to excite investors, Epic has chosen to fly well below the radar screen.
The company remains privately held by its employees - shares are repurchased when anyone leaves - and maintains it has no intention of ever making a public stock offering. The share price has gone from $14 in 1996 to over $100 today, making Faulkner one of the most successful, if not wealthiest, businesswomen in the state.
For snacking, coffee, tea, cocoa, milk, fruit juice, mineral water and microwave popcorn are free. Employees can bring in their pets on weekends. Epic also makes an annual donation in employees’ names to a charity of their choice.
“Culture eats strategy every time,” Faulkner told the Madison Club crowd, in explaining her Zen-tinged business philosophy.
Read the full article for more…