Welcome to our dedicated page for Carecloud news (Ticker: CCLD), a resource for investors and traders seeking the latest updates and insights on Carecloud stock.
Overview of CareCloud Inc
CareCloud Inc (CCLD) is a pioneering healthcare information technology company that excels in delivering comprehensive, cloud-based solutions tailored for high-growth medical groups. Leveraging advanced cloud computing and healthcare IT technologies, the company provides a full suite of SaaS offerings designed to empower medical practices in the modern medical ecosystem. With an emphasis on an intuitive user experience, robust security measures, and flexible integration, CareCloud Inc helps medical providers streamline their operations, enhance patient care, and maintain compliance with industry standards.
Products and Services
CareCloud Inc offers a diverse range of proprietary solutions, including:
- Practice Management (PM): Tools designed to optimize daily operations by simplifying appointment scheduling, billing, and administrative tasks.
- Electronic Health Records (EHR): A modernized platform facilitating the secure management of patient records and clinical data.
- Revenue Cycle Management (RCM): Services focused on improving financial operations and optimizing reimbursement processes.
- Telehealth and Patient Experience Management (PXM): Solutions that support remote patient care, enabling seamless virtual consultations and improved patient engagement.
- Business Intelligence and Robotic Process Automation (RPA): Advanced analytical tools and automation bots that streamline routine tasks and drive operational efficiency.
In addition to these core offerings, CareCloud Inc provides comprehensive healthcare consulting, implementation services, and on-demand workforce staffing capabilities, ensuring that medical groups can access critical resources when needed.
Business Model and Market Position
The company's primary revenue comes from a subscription-based model, offering scalable solutions that cater to medical groups of varying sizes. By emphasizing flexibility, connectivity, and security, CareCloud Inc has solidified its position as a trusted partner for healthcare providers seeking to modernize their practice management systems. The company operates within the competitive landscape of healthcare IT, differentiating itself with an award-winning design philosophy that enhances usability and operational efficiency for its clients.
Technology and Innovation
As an early adopter of cloud computing in healthcare, CareCloud Inc has continually evolved to meet the ever-changing demands of the industry. Its technology platform is built to provide a modern, seamless experience across a suite of powerful applications and services. This effort not only improves day-to-day operations for medical professionals but also furthers the goal of delivering excellent patient care by reducing administrative burdens and increasing clinical focus.
Competitive Landscape and Industry Impact
Within the healthcare technology sector, CareCloud Inc is recognized for its commitment to building secure, flexible, and scalable digital solutions that help healthcare providers compete effectively in a changing market. Its integrated approach to healthcare IT positions the company amongst peers who specialize in practice management and electronic health records, while its unique emphasis on patient experience and business process automation further underscores its relevance in the new medical economy.
Commitment to Quality and Security
CareCloud Inc emphasizes the importance of security and reliability, understanding that the integrity of medical data is paramount for both providers and patients. Its cloud platform, designed with state-of-the-art security protocols, offers peace of mind to healthcare professionals by safeguarding sensitive information and ensuring continuous connectivity.
Conclusion
In summary, CareCloud Inc stands out as a dynamic healthcare IT provider, dedicated to empowering medical groups with innovative cloud-based solutions. Its comprehensive suite of applications not only streamlines operations but also enhances the overall quality of patient care. Through strategic deployment of advanced technology and a deep understanding of healthcare administrative needs, the company continues to drive operational efficiency and establish itself as a vital resource in the competitive medical technology sector.
CareCloud (NASDAQ: CCLD) has announced the acquisition of RevNu Medical Management, an audiology-focused revenue cycle management company based in Westminster, California. This marks CareCloud's second acquisition in 31 days, following the MesaBilling deal.
RevNu's founder Clay Gililland, who owns over 30 hearing health clinics in Southern California, will integrate with CareCloud to leverage their technology and automation capabilities. Daniel Davis, former RevNu CEO, will lead CareCloud's new hearing healthcare division as President.
The acquisition targets the U.S. audiology market, which includes approximately 24,000 employed audiologists and hearing aid specialists, with annual hearing aid spending exceeding $5 billion. The segment remains minimally penetrated by outsourced RCM vendors. The acquisition is expected to be accretive within 90 days, with consideration paid quarterly based on retained revenue.
CareCloud (Nasdaq: CCLD) announced an expanded partnership with Alpine Ear, Nose & Throat PC, a Colorado-based otolaryngology group. Following their existing revenue cycle management (RCM) collaboration, Alpine ENT has implemented CareCloud FrontDesk Assist, a front-office solution aimed at streamlining operations.
Alpine ENT, with 24 providers across three Northern Colorado locations, reported improvements in operational efficiency since implementing FrontDesk Assist, including reduced patient wait times and streamlined appointment scheduling. The solution supports critical front-office functions such as referral management, surgery estimates, and prior authorizations.
The practice, which offers ENT services, audiology, vestibular therapy, and allergy care, has experienced measurable gains in productivity and patient engagement through this expanded partnership. FrontDesk Assist is now available nationwide to healthcare practices across all specialties.
CareCloud (CCLD) has announced its Board's declaration of monthly cash dividends for March and April 2025 for its Series A and Series B Preferred Stock. Series A Preferred Stock holders will receive dividends at 8.75% per annum of the $25.00 per share liquidation preference ($2.1875 per annum per share), plus an additional 2.25% payment for oldest dividend due. Series B Preferred Stock holders will receive dividends at 8.75% per annum ($2.1875 per annum per share).
The dividends are cumulative and payable monthly on the 15th of each month. Record dates are set for the last day of each calendar month, with payments made on the next business day if the 15th falls on a non-business day.
CareCloud (NASDAQ: CCLD) reported strong financial results for full year 2024, marking a significant turnaround with a GAAP net income of $7.9 million compared to a $48.7 million loss in 2023. The company achieved revenue of $110.8 million and increased Adjusted EBITDA by 56% to $24.1 million.
Key highlights include a 244% increase in free cash flow to $13.2 million and strong Q4 2024 performance with $3.3 million in net income. The company completed strategic financial moves including converting 3.5 million Series A Preferred Stock into 26 million common shares, reducing annual dividend burden by $7.7 million, and fully repaying its Silicon Valley Bank credit line.
Looking ahead to 2025, CareCloud projects revenue of $111-114 million, Adjusted EBITDA of $26-28 million, and EPS of $0.10-0.13. The company attributes its improved performance to AI-driven innovation and operational efficiency.
CareCloud (Nasdaq: CCLD) has announced its intention to voluntarily delist its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock (CCLDP) from the Nasdaq Global Market. This decision follows a mandatory conversion of Series A Preferred Stock into common stock, where each share was converted into 7.3358 shares of the company's common stock. The conversion excluded 'material shareholders' who owned at least 100,000 shares of Series A Preferred Stock.
The company plans to file a Form 25 with the SEC around March 21, 2025, with the delisting expected to become effective by March 31, 2025. The delisting is being initiated as the security no longer meets Nasdaq's continued listing requirements following the conversion.
CareCloud (CCLD) has announced the mandatory conversion of its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock into Common Stock. The conversion, effective March 6, 2025, at 4:01 p.m. Eastern Time, will convert each preferred share into 7.3358 shares of Common Stock, including all accumulated and unpaid dividends.
This strategic move will eliminate approximately $7 million in annual dividend obligations, allowing the company to reinvest capital in growth initiatives. According to Norman Roth, Interim CFO, the conversion will result in a cleaner capital structure and enhanced flexibility for shareholder value creation.
Shareholders owning at least 100,000 preferred shares as of the Mandatory Exchange Date retain the right to object to the conversion. Fractional shares will be rounded up to the next whole share, and dividends on converted shares will cease to accrue on the conversion date.
CareCloud (CCLD) has announced the acquisition of MesaBilling, marking its first acquisition since Q2 2021 and signaling a renewed focus on strategic growth. The deal, finalized on February 28, 2025, though described as 'very small,' represents the company's return to its aggressive expansion strategy.
Between 2012 and 2022, CareCloud completed over 20 acquisitions, achieving a >30% compound annual growth rate (CAGR). The company plans to leverage its AI-powered revenue cycle management and automation tools to expand its healthcare provider network through this acquisition.
MesaBilling's Managing Member Marc Dobberstein expressed optimism about providing clients access to CareCloud's broader services and AI technology. Co-CEO Stephen Snyder indicated this acquisition marks the beginning of a new wave of strategic acquisitions and partnerships.
CareCloud (Nasdaq: CCLD), a healthcare technology and generative AI solutions provider for medical practices and health systems, has scheduled its fourth quarter and full year 2024 financial results announcement for March 13, 2025, before market opening. The company will host a conference call for investors at 8:30 a.m. Eastern Time.
Investors can access the live webcast and presentation slides at ir.carecloud.com/events, or join via audio-only by dialing 201-389-0920. A replay will be available approximately three hours after the call's conclusion at the same link, with an audio-only option available at 412-317-6671 (access code: 13751992).
CareCloud (Nasdaq: CCLD) has announced the transfer of funds for January 2025 dividend payments on its Series A and Series B Preferred Stock. Series A stockholders will receive 22.917 cents per share, while Series B stockholders will receive 18.229 cents per share, based on the January 31, 2025 record date.
The payments are expected to be reflected in shareholders' brokerage accounts between February 18 and February 20, 2025. Both Series A and Series B Preferred Stock dividends are cumulative and payable monthly in arrears on the 15th of each month or the next business day. Due to President's Day on February 17th, payments will begin processing on February 18th.
CareCloud (Nasdaq: CCLD) has launched a new advanced referral module for its AI-enabled EHR system, achieving up to 70% time savings in referral management. The module streamlines the referral process through automation and location-based guidance, receiving an exceptional rating from 92% of surveyed users.
Key features include real-time referral completion during patient visits, location-based specialist recommendations, secure patient notifications via text messages, seamless appointment booking, and easy access to referral documentation through Personal Health Record (PHR). The system enables providers to complete referrals during patient visits and allows patients to receive specialist recommendations with integrated maps, book appointments directly, and access their referral forms securely.
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