Nextgen Healthcare Inc Stock Price, News & Analysis

NextGen Healthcare (NASDAQ: NXGN) has nominated Darnell Dent as a director for its 2021 Annual Meeting of Shareholders. Dent brings nearly three decades of experience in managed healthcare, having previously served as CEO of FirstCare Health Plans. His expertise in technology-enabled healthcare solutions is expected to enhance NextGen's market capabilities. The Board aims to add more nominees and anticipates appointing a new CEO before the meeting. Currently, 50% of the director nominees are diverse, highlighting the company's commitment to representation.

NextGen Healthcare, Inc. (NASDAQ: NXGN) announced that Coastal Orthopedics has enhanced its billing and reporting using NextGen® Revenue Cycle Management (RCM) Services. This partnership allowed Coastal to remain financially stable during the COVID-19 pandemic, even as many providers faced reduced patient volume. Coastal can now focus on patient care while utilizing NextGen’s expertise in automation and complex billing. NextGen manages over 12 million claims annually and collects more than $2 billion per year for its clients.

NextGen Healthcare (Nasdaq: NXGN) has achieved a remarkable milestone by facilitating two million telehealth visits since March 2020, leading to a nearly 5,000% increase in virtual care usage. These services, particularly NextGen Virtual Visits™, have provided vital care continuity during the pandemic, receiving patient satisfaction scores averaging 9.1 out of 10. The platform integrates with NextGen® Enterprise EHR, allowing providers to manage medications, review lab results, and minimize missed appointments, shaping the future of ambulatory care.

Sheldon Razin and his group, owning 15.2% of NextGen Healthcare (NASDAQ: NXGN), filed a revised proxy statement to seek the election of four qualified director candidates at the upcoming Annual Meeting on October 13, 2021. This revised slate replaces an earlier list of six candidates, aiming to remove four entrenched directors who have overseen the company's stagnation. Razin's group will not invoke cumulative voting to enhance shareholder clarity and has urged the removal of certain proposals that could undermine shareholder rights.

NextGen Healthcare, Inc. (Nasdaq: NXGN) has issued a statement on behalf of its Board of Directors, excluding Sheldon Razin and Lance Rosenzweig. The Board has attempted to interview nominees proposed by Razin, adhering to company policies. The press release highlights Razin's and Rosenzweig's obstruction of this process, emphasizing the importance of candidate evaluations for shareholder interests. The company stresses its commitment to transparency and fair governance while responding to allegations made by Razin and Rosenzweig in their recent communications.

Sheldon Razin and Lance Rosenzweig, who own approximately 15.2% of NextGen Healthcare (NASDAQ: NXGN), criticize the company's August 26 press release for misrepresenting an email exchange between Razin and committee chair Morris Panner. They assert that the communication revealed their willingness to discuss board candidate interviews, contradicting the company's claims. They highlight the company's poor performance under Jeffrey Margolis’s leadership, citing stagnant growth, eroding margins, and a deteriorating balance sheet. Shareholders are urged to demand board change for improved governance.

NextGen Healthcare, Inc. (Nasdaq: NXGN) announced that board members Sheldon Razin and Lance Rosenzweig are obstructing efforts to refresh the board and resolve a proxy contest. The Board has been collaborating with Spencer Stuart since February to recruit independent directors with relevant expertise, resulting in the recent addition of Dr. Geraldine McGinty and Dr. Pamela S. Puryear. The company emphasizes its commitment to serve all shareholders and extends an invitation for four nominated candidates to engage in discussions, countering Razin's history of prioritizing personal interests over company welfare.