NextGen Healthcare Expands Leadership Team with Esteemed Healthcare Industry Veteran

Rhea-AI Summary

NextGen Healthcare (Nasdaq: NXGN) has appointed Srinivas (Sri) Velamoor as the new Chief Growth Officer, starting August 2, 2021. With over 20 years of experience in healthcare and technology, Velamoor will oversee corporate development and strategy. His background includes leadership roles at McKinsey & Company, where he focused on digital transformation in healthcare. CEO Rusty Frantz emphasized Velamoor's strong vision as crucial for the company's growth amid industry changes. Velamoor expressed enthusiasm for collaborating to enhance healthcare delivery and navigate emerging business models.

Positive

• Srinivas Velamoor's extensive experience in healthcare technology and digital transformation.
• The creation of the Chief Growth Officer role indicates a strategic focus on expanding business development.
• Velamoor's leadership expected to drive corporate development and strategy effectively.

Negative

• None.

NextGen Healthcare, Inc. (Nasdaq: NXGN), a leading provider of ambulatory-focused technology solutions, today announced that Srinivas (Sri) Velamoor will join the company in the newly created position of Chief Growth Officer. Velamoor brings two decades of experience in driving growth and performance at leading global healthcare, financial services and technology organizations and will lead the Company’s corporate development, strategy, solutions and business development functions, along with the NextGen® Connected Health Solutions and NextGen® Office business lines. Velamoor officially begins on August 2, 2021 and will report directly to President and Chief Executive Officer, Rusty Frantz.

Srinivas (Sri) Velamoor Joins NextGen Healthcare as Chief Growth Officer and Executive Vice President (Photo: Business Wire)

Velamoor comes to NextGen Healthcare from McKinsey & Company, where he was a partner and the health sector leader of McKinsey’s North America digital and analytics and ‘Leap’ business building practices. Over the last decade at McKinsey, he orchestrated the growth and scale-up of the firm’s healthcare technology and digital health practices and led end-to-end growth and performance transformations at several leading global healthcare institutions. He also led the end-to-end design, launch and commercial acceleration of multiple businesses in the areas of consumer health, analytics, virtual health, digital therapeutics, payments and technology services. Before joining McKinsey & Company, Velamoor was a partner at both PricewaterhouseCoopers and Diamond Management & Technology Consultants, where he advised industry leading firms in financial services and healthcare. Velamoor received an MBA in Finance from The Wharton School at The University of Pennsylvania, and a BSE in Biomedical Engineering, Electrical Engineering and Economics from Duke University.

“I am delighted to welcome Sri to our executive team at such a pivotal time in the healthcare industry’s transformation and NextGen Healthcare’s acceleration,” said Rusty Frantz, President and Chief Executive Officer of NextGen Healthcare. “As Chief Growth Officer, Sri brings strong and seasoned leadership, vision and expertise to our team, so important as we look to expand our strategic focus and leverage our financial health to play an even larger role in the transformation of care.”

“I’m excited to be joining a company with a rich history of innovation and commitment to improving ambulatory healthcare,” said Velamoor. “I have focused my career on the digital transformation of the healthcare system and making it work more effectively for consumers and care providers alike. As healthcare institutions aggressively evolve towards new business and delivery models in the post-COVID-19 world, NextGen Healthcare is well positioned to continue its leadership position by helping them navigate the nuances of emerging risk reallocation models, new care modalities, consumer centricity, and digital disruption. I am truly looking forward to partnering with NextGen Healthcare’s global team in helping shape the future of health care.”

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/20210525005045/en/

FAQ

Who is the new Chief Growth Officer of NextGen Healthcare (NXGN)?

Srinivas (Sri) Velamoor has been appointed as the Chief Growth Officer of NextGen Healthcare.

What experience does Srinivas Velamoor bring to NextGen Healthcare?

Velamoor has over 20 years of experience in healthcare and technology, previously leading healthcare practices at McKinsey & Company.

When does Velamoor officially start at NextGen Healthcare?

Srinivas Velamoor will officially begin his role on August 2, 2021.

What are Velamoor's responsibilities at NextGen Healthcare?

He will lead corporate development, strategy, and oversight of the NextGen Connected Health Solutions and NextGen Office business lines.

How is the appointment of Velamoor expected to impact NextGen Healthcare (NXGN)?

His leadership is expected to enhance the company’s strategic focus and drive growth in a transforming healthcare industry.