Company Poised to Accelerate Market Penetration in Important Behavioral Health Segment
IRVINE, Calif.--(BUSINESS WIRE)--Oct. 23, 2019--
NextGen Healthcare, Inc. (NASDAQ:NXGN), a leading provider of ambulatory-focused technology solutions, announced it has acquired Topaz Information, L.L.C., known as Topaz Information Solutions, a healthcare solutions company dedicated to meeting the needs of behavioral health and social services organizations. With this acquisition, NextGen Healthcare is well-positioned to improve the delivery of integrated and collaborative care in the behavioral health market, potentially reducing the cost of caring for millions of Americans while improving outcomes. The purchase, which includes all assets of TopazIS, was completed the first week of October. All employees of TopazIS have joined the NextGen Healthcare team. The terms of the deal were not disclosed.
According to America’s Mental Health 2018, a behavioral health research study published by the National Council for Behavioral Health and Cohen Veterans Network, demand for mental health services is strong and growing. Nearly six in 10 (56 percent) Americans have sought or want to seek mental health services either for themselves or for a loved one. Access is the number one challenge. NextGen Healthcare helps address the accessibility challenge by providing an integrated platform that effectively allows for providers to coordinate care and treat the whole patient.
“The acquisition of TopazIS appears to be a well-timed move by NextGen Healthcare,” said Aaron Gleave, Clinical Research Director for KLAS Research, a leading healthcare research firm. “NextGen Healthcare is acquiring additional technology as the market is beginning to accelerate the adoption of technology platforms and solutions in this space. Behavioral Health has been an underserved area, and we’d love to see NextGen Healthcare deliver the same level of excellence that we’ve observed in its ambulatory offerings the past couple years.”
“The importance of effectively treating behavioral and mental health has appropriately garnered national attention,” said Rusty Frantz, President and Chief Executive Officer of NextGen Healthcare. “The large majority of Americans understand that mental health is just as important as physical health. With the Topaz acquisition, NextGen is doubling down on our commitment to the behavioral health specialty for both societal and business benefits. We strongly believe companies do well by doing good.”
“Topaz has been a proud NextGen Healthcare partner since 2000,” said Javier Favela, formerly TopazIS Chief Executive Officer and now Vice President, Behavioral Health Solutions at NextGen Healthcare. “Because our cultures, technologies and missions were already so well aligned, it made perfect sense to join forces. We couldn’t be more delighted to become part of NextGen Healthcare, a company that truly cares about its providers and their clients.”
NextGen Behavioral Health Suite
NextGen Behavioral Health Suite enables organizations to deliver true integrated and collaborative care. It is built on the industry’s only technology platform that integrates behavioral, physical and dental health records for a comprehensive view of the client/patient’s health. The proven solution provides automation, pervasive interoperability, and superior analytics-driven medical and behavioral health workflows and is supported by a team with true subject matter expertise. For more information, visit https://www.nextgen.com/specialty/behavioral-mental-health.
About NextGen Healthcare, Inc.
We empower the transformation of ambulatory care—partnering with medical, behavioral and dental providers in their journey to value-based care to make healthcare better for everyone. We go beyond EHR and PM. Our integrated solutions help increase clinical productivity, enrich the patient experience, and ensure healthy financial outcomes. We believe in better. Learn more at nextgen.com, and follow us on Facebook, Twitter, LinkedIn and Instagram.
SAFE HARBOR PROVISIONS FOR FORWARD-LOOKING STATEMENTS
Certain statements in this news release may be forward-looking statements within the meaning of federal securities laws, including but not limited to statements regarding the anticipated impact of the Topaz acquisition. NextGen Healthcare cautions investors not to place undue reliance on any such forward-looking statements, which are based on information available at the time those statements are made or management's good faith belief as of that time with regard to future events, and should not be read as a guarantee of future performance or results. Risks and uncertainties exist that may cause 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 include, but are not limited to, the potential that the expected benefits and opportunities of the acquisition of Topaz may not be realized or may take longer to realize than expected; potential delays, inefficiencies or failures in integrating Topaz’s personnel, systems and business with NextGen Healthcare; and market and financial conditions which may impact the performance of Topaz. The foregoing factors are in addition to the risks set forth in the NextGen Healthcare’s public filings with the U.S. Securities and Exchange Commission, including the discussion under the heading “Risk Factors” in NextGen Healthcare’s most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q. These forward-looking statements speak only as of the date hereof. NextGen Healthcare expressly disclaims any intent or obligation to update these forward-looking statements except as required by law.
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Source: NextGen Healthcare, Inc.
NextGen Healthcare, Inc.