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MTBCP - CareCloud Inc News Story

$29.14 0.2  0.7%

Sector
Healthcare
Size
Small Cap
Market Cap £86.0m
Enterprise Value £71.2m
Revenue £76.0m
Position in Universe th / 6847

MTBC Announces Name Change to CareCloud, Inc., Doubles Down on Innovation & Growth

Mon 1st March, 2021 1:45pm
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Name change sets the stage for unified client experience and cohesive
technology approach

SOMERSET, N.J., March 01, 2021 (GLOBE NEWSWIRE) -- MTBC
(https://www.globenewswire.com/Tracker?data=HTv7J6qrjN6qoQWjEGbR1B1Dz4WJ_bWCuRxMcw91vFSsv8CE--IvNnjFXbOSTHex) (Nasdaq:
MTBC) (Nasdaq: MTBCP), a leading provider of cloud-based healthcare IT
solutions and services, today announced it is renaming the company to
CareCloud, Inc. effective March 29, 2021. The name change reflects the
company’s continued commitment to bringing disciplined innovation and
cloud-based solutions to today’s evolving healthcare market.

“For 20 years, we have had a tradition of making big moves, entering new
markets, and delivering powerful, cloud-based solutions to our clients,”
said Mahmud Haq, Executive Chairman and Founder, MTBC. “In view of this
legacy and ongoing commitment, today we are excited to announce that we will
be changing our name to CareCloud, Inc.”

As a result of the company’s consistent growth, strategic acquisitions and
history of innovation over two decades, MTBC’s solutions and market presence
have expanded significantly, today powering more than 40,000 healthcare
providers across 50 states, supported by more than 3,000 team members
worldwide.

“The CareCloud identity reflects MTBC’s leadership in providing a unified,
easy-to-use, and diverse cloud-based platform that empowers healthcare
providers to increase collections, optimize care delivery, and enhance the
patient experience,” said Stephen Snyder, CEO, MTBC. “As we continue to be
a growth leader in the market, our new name signifies that we are creating a
more unified customer experience to support further market expansion and
client acquisition.”

“Today, we find ourselves in an enviable position as we have forged ahead to
expand our modern technology-enabled offerings, broadened our market presence,
and solidified our vision for the future,” said Hadi Chaudhry, President,
MTBC. “Our name may be changing, but our values and commitment to excellence
are not. We remain committed to delivering unparalleled value to our clients,
partners, and investors.”

Under the new CareCloud name, MTBC’s common stock 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 MTBC

MTBC is a healthcare information technology company that provides a full suite
of proprietary cloud-based solutions, together with related business services,
to healthcare providers and hospitals throughout the United States. Our
Software-as-a-Service (or SaaS) platform includes revenue cycle management
(RCM), practice management (PM), electronic health record (EHR), business
intelligence, telehealth and patient experience management (PXM) solutions for
high-performance medical groups. MTBC helps clients increase financial and
operational performance, streamline clinical workflows and make better
business and clinical decisions, allowing them to improve patient care while
reducing administrative burdens and operating costs. MTBC’s common stock
trades on the Nasdaq Global Market under the ticker symbol “MTBC,” and its
Series A Preferred Stock trades on the Nasdaq Global Market under the ticker
symbol “MTBCP.”

For additional information, please visit our website at www.mtbc.com. To view
MTBC's latest investor presentation, read press releases, and listen to
interviews with management, please visit ir.mtbc.com
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SOURCE MTBC

Company Contact:
 Bill Korn
 Chief Financial Officer
 MTBC
bkorn@mtbc.com

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

Media Inquiries:
Mike Cuesta
Chief Marketing Officer
MTBC
mcuesta@mtbc.com



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GlobeNewswire, Inc. 2021
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