SOFTWARE: Sheldon Razin falls short in proxy battle at NextGen Healthcare

Laguna Beach’s Sheldon Razin, founder in 1974 of what’s now NextGen Healthcare Inc.

(Nasdaq: NXGN), gracefully conceded defeat after losing a bitter proxy battle earlier this month.

“I am proud of the growth and market expansion that the company has achieved and wish NextGen Healthcare’s Board of Directors and management team success going forward,” the 83-year-old said in a statement.

Even though Razin’s the largest single shareholder of the medical practice-focused software company with a 15.2% stake worth about $150 million, his slate of directors only got about 20% of the votes.

Shares were little changed in the week following the Oct. 13 vote. NextGen, which moved its headquarters from Irvine to Atlanta earlier this year but still has operations here, is valued around $1 billion.