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MTBCP - CareCloud Inc News Story

$28.43 0.0  0.2%

Sector
Healthcare
Size
Small Cap
Market Cap £79.6m
Enterprise Value £64.9m
Revenue £80.0m
Position in Universe th / 6846

MTBC is Now CareCloud

Mon 29th March, 2021 1:45pm
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SOMERSET, N.J., March 29, 2021 (GLOBE NEWSWIRE) -- CareCloud, Inc.
(https://www.globenewswire.com/Tracker?data=di3LFqkSpChjrpsaNcFxQ8HkNaTHxYIaDgiEdUIhXeilHOeeLKQbj7GoT8WUFL8PiG4-QJjbC-yRMnRYWKek1A==) (Nasdaq:
MTBC) (Nasdaq: MTBCP), a leader in healthcare technology solutions for medical
practices and health systems nationwide, today announced the official renaming
of MTBC, Inc. to CareCloud, Inc. The name change, which reflects the
company’s continued commitment to bringing disciplined innovation and
cloud-based solutions to today’s evolving healthcare market, has already
been well received by the company’s growing client base.

“It is my pleasure to announce that we are officially CareCloud, Inc.,”
said Hadi Chaudhry, CEO, CareCloud. “As we have indicated, our name has
changed, but our values of innovation and customer excellence have not. On
behalf of the entire organization, I would like to thank our employees,
clients, investors and partners for supporting us through this transition - we
are looking forward to a bright future together as CareCloud.”

“The CareCloud name reflects both our legacy and our future as a
technology-first leader in the industry,” said Stephen Snyder, Chief
Strategy Officer, CareCloud. “As we look ahead into the future, we are
excited to continue to make bold moves in pursuit of our growing customer base
and expansive addressable market.”

“As a client of 12 years, we are thrilled that MTBC is now officially
CareCloud,” said Neil Patel, CFO, Pacific Toxicology Laboratories. “We
believe this brand change solidifies the company’s commitment to meet our
needs as we also continue to evolve our business on behalf of the patients we
serve.”

 “The new name is a great reflection of exactly the care and support that
CareCloud offers its clients,” said Joseph Vaisman, MD, Conejo Los Robles
Anesthesia Medical Group. “We are excited to explore the full scope of
technology and services included in CareCloud’s portfolio.”

CareCloud will continue to trade on the Nasdaq Global Market under the ticker
symbol “MTBC”, and its Series A Preferred Stock will also continue to
trade under the ticker symbol “MTBCP”.

To learn more, visit www.carecloud.com

About CareCloud
CareCloud (Nasdaq: MTBC) (Nasdaq: MTBCP) brings disciplined innovation to the
business of healthcare. Our suite of technology-enabled solutions helps
clients increase financial and operational performance, streamline clinical
workflows and improve the patient experience. More than 40,000 providers count
on CareCloud to help them improve patient care while reducing administrative
burdens and operating costs. Learn more about our products and services
including revenue cycle management (RCM), practice management (PM), electronic
health records (EHR), business intelligence, telehealth and patient experience
management (PXM) at www.carecloud.com.

Follow CareCloud on LinkedIn
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Forward Looking Statements

This press release contains various forward-looking statements within the
meaning of the federal securities laws. These statements relate to anticipated
future events, future results of operations or future financial performance.
In some cases, you can identify forward-looking statements by terminology such
as “may,” “might,” “will,” “should,” “intends,”
“expects,” “plans,” “goals,” “projects,” “anticipates,”
“aspires,” “believes,” “estimates,” “predicts,”
“potential,” or “continue” or the negative of these terms or other
comparable terminology.

Our operations involve risks and uncertainties, many of which are outside our
control, and any one of which, or a combination of which, could materially
affect our results of operations and whether the forward-looking statements
ultimately prove to be correct. Forward-looking statements in this press
release include, without limitation, statements reflecting management's
expectations for future financial performance and operating expenditures,
expected growth, profitability and business outlook, the impact of the
Covid-19 pandemic on our financial performance and business activities, and
the expected results from the integration of our acquisitions.

These forward-looking statements are only predictions, are uncertain and
involve substantial known and unknown risks, uncertainties and other factors
which may cause our (or our industry’s) actual results, levels of activity
or performance to be materially different from any future results, levels of
activity or performance expressed or implied by these forward-looking
statements. New risks and uncertainties emerge from time to time, and it is
not possible for us to predict all of the risks and uncertainties that could
have an impact on the forward-looking statements, including without
limitation, risks and uncertainties relating to the Company’s ability to
manage growth, migrate newly acquired customers and retain new and existing
customers, maintain cost-effective global operations, increase operational
efficiency and reduce operating costs, predict and properly adjust to changes
in reimbursement and other industry regulations and trends, retain the
services of key personnel, and other important risks and uncertainties
referenced and discussed under the heading titled “Risk Factors” in the
Company’s filings with the Securities and Exchange Commission. In addition,
there is uncertainty about the spread of the Covid-19 virus and the impact it
may have on the Company’s operations, the demand for the Company’s
services, and economic activity in general.

The statements in this press release are made as of the date of this press
release, even if subsequently made available by the Company on its website or
otherwise. The Company does not assume any obligations to update the
forward-looking statements provided to reflect events that occur or
circumstances that exist after the date on which they were made.

SOURCE CareCloud

Company Contact:
 Bill Korn
 Chief Financial Officer
 CareCloud
bkorn@carecloud.com

Investor Contact:
 Matt Kreps
 Managing Director
 Darrow Associates Investor Relations
mkreps@darrowir.com

Media Inquiries:
Kaitlyn Mode
Corporate Communications Manager
CareCloud
kmode@carecloud.com


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