UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On July 13, 2023, NextGen Healthcare, Inc. (the “Company”), entered into a settlement agreement (the “Settlement Agreement”) with the U.S. Department of Justice (the “DOJ”) and two private parties (the “Relators”) to resolve the previously disclosed investigation by the DOJ regarding the Company’s software certification under the United States Department of Health and Human Services Electronic Health Record Incentive Program and the Company’s marketing practices. The investigation also involved a previously disclosed qui tam lawsuit (the “Civil Action”) filed by the Relators against the Company alleging violations of the federal False Claims Act.
Pursuant to the terms of the Settlement Agreement, on July 14, 2023, the Company paid a total of $31,267,534.25 to the United States to settle the claims and a total of $1,200,000 to Relators for attorneys’ fees, expenses and costs. Upon receipt of such payments, the DOJ and the Relators dismissed the Civil Action and released the Company from the claims specified in the Settlement Agreement. In anticipation of the finalizing of the settlement, in fiscal fourth quarter 2023, the Company recorded total expense of $35,095,000 related to the settlement and associated legal fees, which was reflected in the Company’s financial results reported in its Annual Report on Form 10-K for the fiscal year ended March 31, 2023.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: July 14, 2023 |
NEXTGEN HEALTHCARE, INC. |
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By: |
/s/ Jeffrey Linton |
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Jeffrey Linton |
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Executive Vice President, General Counsel, and Secretary |
Document and Entity Information |
Jul. 13, 2023 |
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| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Jul. 13, 2023 |
| Entity Registrant Name | NEXTGEN HEALTHCARE, INC. |
| Entity Central Index Key | 0000708818 |
| Entity Emerging Growth Company | false |
| Entity File Number | 001-12537 |
| Entity Incorporation State Country Code | DE |
| Entity Tax Identification Number | 95-2888568 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Common Stock (Par Value $0.01) |
| Trading Symbol | NXGN |
| Security Exchange Name | NASDAQ |