NextGen Names New COO, CFO

Names: Srinivas Velamoor, James Hammerschmidt

Previous titles: Chief growth and strategy officer and executive vice president, NextGen Healthcare; Senior vice president of finance and investor relations, NextGen Healthcare

New titles: President and chief operating officer, NextGen Healthcare; Chief financial officer, NextGen Healthcare

NextGen Healthcare announced on Thursday two promotions to fill out the electronic health record vendor’s executive team, months after the company was acquired and taken private. 

Velamoor, who joined NextGen in 2021, will immediately take the reins as president and COO. He previously worked at McKinsey & Company, PricewaterhouseCoopers and Diamond Management & Technology Consultants.

Hammerschmidt will take on the CFO role following the retirement of Jamie Arnold at the end of March. He joined NextGen in 2017, and played a “key role” in the company’s acquisition by private equity firm Thoma Bravo for $1.8 billion last year, according to a press release. 

Shortly after the deal closed in November, NextGen reported it would lay off nearly 250 employees, affecting workers in St. Louis, Baltimore and Pennsylvania. A spokesperson said the company pursed the layoffs in line with its “focused growth strategy.”