By Dhirendra Tripathi
Investing.com – Nextgen Healthcare (NASDAQ:NXGN) shares fell more than 5% during Tuesday’s session as the immediate departure of the company’s chief executive officer rattled investors.
A note Monday said the company and Rusty Frantz had agreed to a mutual separation and that Frantz will no longer serve as President, Chief Executive Officer or a member of the NextGen Healthcare board of directors, effective immediately.
An executive leadership committee has been established to lead NextGen on an interim basis while its next CEO is identified with the assistance of executive search firm Spencer Stuart, the company note said.
“I’ve been transparent about my personal experience with the patient/provider connection. This transition enables me to put 100% of my focus on my most important priority – my family. . .,” Frantz said.
The company also reaffirmed its outlook for fiscal 2022. It expects revenue to come between $574 million and $584 million, and non-GAAP earnings per share to fall in the range of 89 cents and 95 cents.