NextGen Healthcare Welcomes New COO and CFO

NextGen Healthcare, a prominent electronic health record vendor, recently announced key executive team changes, bolstering its leadership following the company’s acquisition. Srinivas Velamoor steps up as the new President and Chief Operating Officer (COO), while James Hammerschmidt is set to become the Chief Financial Officer (CFO).

Velamoor, a seasoned professional with a rich background in consultancy, joined NextGen in 2021. His impressive resume includes stints at McKinsey & Company, PricewaterhouseCoopers, and Diamond Management & Technology Consultants. Now, as he ascends to the role of President and COO, Velamoor is ready to steer NextGen Healthcare through its next phase of growth and innovation.

James Hammerschmidt, who has been with NextGen since 2017, will take over as CFO after Jamie Arnold’s retirement at March’s end. Hammerschmidt’s pivotal contribution to NextGen’s successful acquisition by Thoma Bravo, a private equity firm, for a staggering $1.8 billion, marks a high point in his tenure with the company. His promotion to CFO is a testament to his integral role in this transformative period for NextGen.

This leadership restructuring comes just months after Thoma Bravo acquired NextGen, taking the company private. In the wake of this significant deal, NextGen announced layoffs affecting nearly 250 employees across various locations, including St. Louis, Baltimore, and Pennsylvania. A spokesperson for NextGen stated that these layoffs are in alignment with the company’s “focused growth strategy,” signifying a strategic move to streamline operations and fortify its market position.

As NextGen Healthcare embarks on this new chapter, the appointments of Velamoor and Hammerschmidt are pivotal. Their combined expertise and leadership are expected to navigate the company through the evolving landscape of healthcare technology and reinforce its commitment to delivering cutting-edge solutions in the healthcare sector. These changes reflect NextGen’s continuous pursuit of excellence and innovation, underscoring its status as a key player in the healthcare technology industry.

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