NextGen Healthcare, Inc. - NXGN STOCK NEWS

NextGen Healthcare, Inc. (Nasdaq: NXGN) has filed preliminary proxy materials with the SEC for its 2021 Annual Meeting of Shareholders, scheduled for October 13, 2021. The Board of Directors cautions shareholders against misleading claims from founder Shelly Razin, emphasizing a strategic plan for profitable growth. The company proposes changing its incorporation from California to Delaware for better governance and the adoption of a majority vote for director elections. New independent directors were announced to enhance governance and shareholder interests.

NextGen Healthcare (Nasdaq: NXGN) responded to Sheldon Razin’s attempt to elect a majority of the Board of Directors at the upcoming 2021 Annual Meeting on October 13, 2021. Razin, the company’s founder and a long-time director, has been on the Board for 47 years. The Board will review his nominations, urging shareholders to refrain from immediate action. NextGen Healthcare remains focused on serving shareholders and clients while promoting a diverse and experienced Board.

Sheldon Razin announced the nomination of four independent candidates to NextGen Healthcare's (NXGN) Board of Directors ahead of the Annual Meeting on October 13, 2021. Razin, holding 15.2% of shares, criticized the current Board's performance under Chairman Jeffrey Margolis, citing issues like poor growth and ineffective leadership. The nominees, including Kenneth Fearn and Ramon Gregory, are positioned to bring fresh perspectives and enhance corporate governance. Razin emphasized the need for a Board committed to long-term value creation.

NextGen Healthcare (Nasdaq: NXGN) announced the appointment of Dr. Geraldine McGinty and Dr. Pamela S. Puryear to its Board of Directors, effective August 11, 2021, enhancing the company's leadership with their extensive healthcare experience. The changes coincide with the retirement of James Malone after his service concludes at the Annual Meeting scheduled for October 13, 2021. The upcoming meeting will spotlight a diverse slate of nine director nominees, including three women and people of color, reflecting the company's commitment to diversity.

NextGen Healthcare, Inc. (Nasdaq: NXGN) will conduct its 2021 Annual Meeting of Shareholders on October 13, 2021, at its headquarters in Atlanta, GA. Shareholders recorded as of September 2, 2021, are eligible to vote and attend. Proxy materials and the 2021 Annual Report will be accessible to these shareholders. This communication clarifies that it is not a proxy solicitation, and the company will file a proxy statement with the SEC concerning the meeting, urging shareholders to review all relevant documents carefully for important information.

NextGen Healthcare (Nasdaq: NXGN) has partnered with Liberty Resources in Syracuse, N.Y., integrating its comprehensive platform, including NextGen Enterprise EHR and Behavioral Health Suite. Liberty, a leader in integrated care, aims to enhance overall well-being for nearly 18,000 individuals. The collaboration focuses on improving patient outcomes through advanced technology and strategic consulting from NextGen Advisors. This alliance is designed to streamline operations and provide a holistic approach to healthcare, addressing both medical and behavioral needs.

NextGen Healthcare (Nasdaq: NXGN) announced a favorable jury verdict on July 29, 2021, in the lawsuit Ahmed D. Hussein v. Sheldon Razin, Steven Plochocki, and Quality Systems, Inc., affirming no financial liability for the company. The verdict concluded a case initiated in October 2013, ensuring that no adjustments are necessary to Q1 FY22 financials reported earlier that day. NextGen will submit its Quarterly Report on Form 10-Q on July 30, 2021.

NextGen Healthcare (NASDAQ: NXGN) reported solid financial results for Q1 of fiscal 2022, achieving $146.1 million in revenue, a 12% increase from the previous year. Recurring revenue grew by 11%, totaling $132.4 million, while subscription services revenue rose 8% to $38.3 million. Managed services revenue saw robust growth at 31%, reaching $29.4 million. The company reported a fully diluted net income of $0.04 per share compared to a loss of $0.01 a year ago. NextGen also raised its revenue guidance for fiscal 2022 to $576-$586 million.