MTBC Announces Signing of Two Key Healthcare Groups New clients expected to generate more than $1 million in annual revenues
April 27 2017 - 9:53AM
Marketwired
New clients expected to generate more than $1 million in annual
revenues
SOMERSET, NJ-(Marketwired - Apr 27, 2017) - MTBC (NASDAQ: MTBC)
(NASDAQ: MTBCP), a leading provider of mHealth and cloud-based
clinical and practice management solutions, announced the signing
of two new clients yesterday who are expected to generate more than
$1 million in combined, recurring, annual revenues, starting in
third quarter 2017, marking a record day of new business signings
for MTBC.
"We're very pleased to welcome these new clients, who are
regional leaders in their respective specialties of pain management
and orthopedics," said Karl Johnson, MTBC SVP, Sales and Marketing.
He continued, "Yesterday was a record day of closings for us and
we'll continue expanding our reach into new markets as we enable
healthcare providers to optimize revenues, while reducing operating
costs." During fourth quarter 2016, MTBC closed its largest
acquisition to-date and simultaneously launched a new organic
growth initiative. As part of this initiative, MTBC hired
experienced healthcare sales leaders, expanded its universe of
cross-marketing partners, and is on track to attend more than 20
industry conferences during 2017.
"We're excited to see MTBC's new growth initiative begin to
generate a strong return on our investment," said Stephen Snyder,
MTBC President. He continued, "We believe we're positioned to
achieve significant year-over-year revenue growth during 2017,
while generating positive adjusted EBITDA for full year 2017."
About MTBC
MTBC is a healthcare information technology company
that provides a fully integrated suite of proprietary web-based
solutions, together with related business services, to healthcare
providers throughout the United States. Our integrated
Software-as-a-Service (SaaS) platform helps our customers increase
revenues, streamline workflows and make better business and
clinical decisions, while reducing administrative burdens and
operating costs. MTBC's common stock trades on the NASDAQ Capital
Market under the ticker symbol "MTBC," and its Series A Preferred
Stock trades on the NASDAQ Capital Market under the ticker symbol
"MTBCP."
For additional information, please visit our website at
www.mtbc.com.
Follow MTBC on Twitter, LinkedIn and Facebook.
Forward-Looking Statements
This press release contains various
forward-looking statements within the meaning of the Securities Act
of 1933, as amended, and the Securities Exchange Act of 1934, as
amended. 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 "anticipate", "believe", "continue", "could",
"estimate", "expect", "goals", "intend", "likely", "may", "plan",
"potential", "predict", "project", "will" or the negative of these
terms or other similar terms and phrases.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, increased sales and marketing
expenses, and the expected results from the integration of our
acquisitions.Forward-looking statements are only current
predictions and are subject to known and unknown risks,
uncertainties, and other factors that may cause our actual results,
levels of activity, performance, or achievements to be materially
different from those anticipated by such statements. These factors
include, but are not limited to, the company's ability to manage
growth; integrate acquisitions; effectively migrate and keep newly
acquired customers 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.
Although we believe that the expectations reflected in the
forward-looking statements contained in this press release are
reasonable, we cannot guarantee future results, levels of activity,
performance, or achievements.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 MTBC
Company and Investor Contact:
Bill Korn
Chief Financial Officer
Medical Transcription Billing, Corp.
bkorn@mtbc.com
732-873-5133
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