CareCloud, Inc. (the “Company” or “CareCloud”) (Nasdaq: MTBC)
(Nasdaq: MTBCP), a leader in healthcare technology solutions for
medical practices and health systems nationwide, announced today
that FTSE Russell, which manages the widely-followed Russell
2000® Index and other indices based on market capitalization
and style orientation, has included CareCloud in the Russell
Microcap® Index for the fourth straight year.
“We're pleased to announce our continued
inclusion in the highly regarded Russell Microcap® Index, which was
made possible by our strong financial performance and proven
business model. CareCloud has reported a compound annual growth
rate of revenues in excess of 53% from first quarter 2018, before
we joined the Russell Microcap® Index, through first quarter 2021,”
said Bill Korn, Chief Financial Officer. “According to FTSE
Russell, the Russell Microcap® Index has generated 12.3% compound
annual returns over the last three years, and our common stock
(Nasdaq: MTBC) has generated 34.3% compound annual returns over the
same period.”
Membership in the Russell Microcap® Index means
automatic inclusion in the appropriate growth and value style
indexes. FTSE Russell determines membership for its Russell US
Indexes primarily by objective, market-capitalization rankings and
style attributes.
Russell indexes are widely used by investment
managers and institutional investors for index funds and as
benchmarks for active investment strategies. Approximately $10.6
trillion in assets are benchmarked against Russell’s U.S. indexes.
Russell indexes are part of FTSE Russell, a leading global index
provider.
For more information on the Russell Microcap®
Index and the Russell US Indexes reconstitution, go to the “Russell
Reconstitution” section on the FTSE Russell website.
About
CareCloudCareCloud (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, Twitter and Facebook.
About FTSE RussellFTSE Russell
is a global index leader that provides innovative benchmarking,
analytics, and data solutions for investors worldwide. FTSE Russell
calculates thousands of indexes that measure and benchmark markets
and asset classes in more than 70 countries, covering 98% of the
investable market globally.
FTSE Russell index expertise and products are
used extensively by institutional and retail investors globally.
Approximately $17.9 trillion is currently benchmarked to FTSE
Russell indexes. For over 30 years, leading asset owners, asset
managers, ETF providers and investment banks have chosen FTSE
Russell indexes to benchmark their investment performance and
create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE
Russell index design and management: a transparent rules-based
methodology is informed by independent committees of leading market
participants. FTSE Russell is focused on applying the highest
industry standards in index design and governance and embraces the
IOSCO Principles. FTSE Russell is also focused on index innovation
and customer partnerships as it seeks to enhance the breadth, depth
and reach of its offering.
For more information, visit
www.ftserussell.com.
Forward-Looking StatementsThis
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,” “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 KornChief Financial
OfficerCareCloudbkorn@carecloud.com
Investor Contact:Matt Kreps, Managing
DirectorDarrow Associates Investor
Relationsmkreps@darrowir.com(214) 597-8200
Media Inquiries:Kaitlyn ModeCorporate
Communications ManagerCareCloudkmode@carecloud.com
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