NextGen Healthcare Announces Update to Credit Facility

Rhea-AI Summary

NextGen Healthcare (Nasdaq: NXGN) announced a $300 million amended revolving credit agreement with JPMorgan Chase Bank on March 12, 2021. This facility, maturing on March 12, 2026, replaces the previous $300 million facility and includes a $150 million accordion feature, potentially increasing total borrowing to $450 million. CFO Jamie Arnold expressed satisfaction with this deal, noting it offers increased financial flexibility and better terms compared to the prior agreement.

Positive

• Amended credit facility increases borrowing capacity to potentially $450 million.
• More favorable terms enhance financial flexibility for NextGen Healthcare.

Negative

• None.

NextGen Healthcare, Inc. (Nasdaq: NXGN), a leading provider of ambulatory-focused technology solutions, today announced that on March 12, 2021, it entered into a $300 million second amended and restated revolving credit agreement with JPMorgan Chase Bank, N.A., as administrative agent, U.S. Bank National Association and Bank of the West, as co-syndication agents, and certain other agents and lenders. This amended facility matures on March 12, 2026, and replaces NextGen Healthcare’s prior $300 million facility. This amended facility includes a $150 million “accordion” feature, which could accommodate borrowing up to $450 million in the aggregate.

“We are pleased to enter into this amended credit facility which provides us with increased financial flexibility for the next five years through additional borrowing capability at more favorable terms compared to our previous facility,” said Jamie Arnold, chief financial officer for NextGen Healthcare.

About NextGen Healthcare, Inc.

NextGen Healthcare, Inc. (Nasdaq: NXGN) is a leading provider of ambulatory-focused technology solutions. We are empowering the transformation of ambulatory care—partnering with medical, behavioral and dental providers in their journey to value-based care to make healthcare better for everyone. We go beyond EHR and PM. Our integrated solutions help increase clinical productivity, enrich the patient experience, and ensure healthy financial outcomes. We believe in better. Learn more at nextgen.com, and follow us on Facebook, Twitter, LinkedIn, YouTube and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210316005333/en/

FAQ

What is the significance of NextGen Healthcare's $300 million credit agreement?

The credit agreement provides NextGen Healthcare with enhanced financial flexibility and the ability to borrow up to $450 million.

When does the amended credit facility for NextGen Healthcare mature?

The amended credit facility matures on March 12, 2026.

What was the previous amount of NextGen Healthcare's credit facility before the amendment?

The previous credit facility was also $300 million.