Shareholders Approve the Company’s Reincorporation into
Shareholders Elect All Nine of NextGen Healthcare’s Director Nominees
- The reincorporation of
NextGen Healthcareinto Delaware
- The elimination of cumulative voting in the election of directors
- The election of all nine of the Company’s director nominees to the Board of Directors, consisting of
Craig A. Barbarosh, George H. Bristol, Darnell Dent, Julie D. Klapstein, Jeffrey H. Margolis, Dr. Geraldine McGinty, Morris Panner, Dr. Pamela Puryearand David Sides
- The ratification of the appointment of the independent registered public accounting firm
- The amendment and restatement of NextGen Healthcare’s 2015 equity plan
The NexGen Healthcare Board and management thank our shareholders for their support. We are delighted to welcome our new directors.
We appreciate the perspectives stakeholders have shared throughout this process. In our conversations, shareholders have recognized the Company’s many strengths, including NextGen Healthcare’s winning platform, talented and dedicated employees, and the benefits our services and solutions provide to healthcare providers and consumers across the country. Like us, shareholders see opportunities to further accelerate growth and value creation, and we are committed to doing just that. The Board and management look forward to continuing to engage with our shareholders over the next year.
With the Annual Meeting behind us, we now turn our full attention to the business. Client success is key to our own. Our focus remains on providing innovative, comprehensive solutions that enable providers to engage with patients more effectively and efficiently.
We look to the future with confidence knowing that we have a strong operating and financial foundation from which to build and support NextGen Healthcare’s continued market leadership.
The Company’s Board of Directors added:
With the director appointments announced today, the NextGen Healthcare Board consists of eight independent directors and the Company’s new CEO. Five of the nine directors are new to the Board in the past four years and further advance the Board’s diversity across race, gender, age and tenure. Collectively, the Board’s directors bring decades of highly relevant experience across providers, health insurance, life sciences and enterprise software to drive strategic execution and premier performance and growth.
At the meeting, shareholders also approved the proposal for an exclusive forum for intra-corporate claims, the forum selection proposal for securities claims and the adoption of proxy access. At the meeting, shareholders did not approve the advisory proposal with respect to executive compensation, the proposal to increase the threshold required for shareholders to call a special meeting from 10% to 15%, the proposal for the Board to solely fill Board vacancies and the proposal to grant the Board the sole authority to set the size of the Board.
The Company will file voting results for all proposals on a Form 8-K with the
Forward Looking Statements
This communication may contain forward-looking statements within the meaning of the federal securities laws, including but not limited to, statements regarding future events including but not limited to the COVID-19 pandemic, developments in the healthcare sector and regulatory framework, the Company's future performance, as well as management's expectations, beliefs, intentions, plans, estimates or projections relating to the future (including, without limitation, statements concerning revenue, net income, and earnings per share). Risks and uncertainties exist that may cause the results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements and additional risks and uncertainties are set forth in Part I, Item A of our most recent Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q, including but not limited to: volatility and uncertainty in the global economy, financial markets and on our customers in light of the continuing COVID-19 pandemic, including the potential (i) slowdown or shutdown of preventive and elective medical procedures, (ii) delay in the contracting for additional products and services by our customers and (iii) delay in the sales cycle for new customers; a determination by the jury that the Company has liability in litigation advanced by a former director and shareholder; the volume and timing of systems sales and installations; length of sales cycles and the installation process; the possibility that products will not achieve or sustain market acceptance; seasonal patterns of sales and customer buying behavior; impact of incentive payments under The American Recovery and Reinvestment Act on sales and the ability of the Company to meet continued certification requirements; uncertainties related to the future impact of
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