CareCloud Announces Results from Annual Shareholder Meeting

Rhea-AI Summary

CareCloud announced the results of its 2024 Annual Shareholder Meeting held on June 17, 2024. Shareholders re-elected A. Hadi Chaudhry, John Daly, Mahmud Haq, and Cameron Munter as directors with over 90% approval. Additionally, shareholders approved the compensation for the company's named executive officers as outlined in CareCloud's 2024 Proxy Statement. The meeting's outcomes were filed in a Form 8-K with the SEC. Executive Chairman Mahmud Haq expressed gratitude for the support from shareholders, customers, and employees, and highlighted the company's goals to grow free cash flow, expand AI solutions, and increase the customer base.

Positive

• Shareholders re-elected all four director nominees with over 90% approval.
• Approval of executive compensation indicates shareholder confidence in management.
• Plans to grow free cash flow, expand AI solutions, and increase the customer base indicate strategic focus on growth.

Negative

• None.

SOMERSET, N.J., June 20, 2024 (GLOBE NEWSWIRE) -- CareCloud, Inc. (the “Company”) (Nasdaq: CCLD, CCLDO, CCLDP), a leader in healthcare technology solutions for medical practices and health systems nationwide, today announced that it held its 2024 Annual Shareholders’ Meeting on June 17, 2024, during which the shareholders, by an overwhelming majority, reelected all four director nominees.

At the Annual Meeting, CareCloud’s shareholders reelected A. Hadi Chaudhry, John Daly, Mahmud Haq, and Cameron Munter for another two-year term by a vote of more than 90% of the shareholders present or voting by proxy. Shareholders also voted to approve, on an advisory basis, the compensation of the Company’s named executive officers, as disclosed in the Company’s 2024 Proxy Statement’s compensation tables and any related information found in such proxy statement.

“We are thankful to our shareholders, customers and employees for their strong support over the last year,” said Mahmud Haq, executive chairman of CareCloud’s board of directors. “In the year ahead, we look forward to achieving new milestones as we continue to grow our free cash flow, expand our AI solutions, and increase the size of our customer base.”

The final voting tallies from this year’s Annual Meeting were included in a Form 8-K which was previously filed with the Securities and Exchange Commission.

About CareCloud

CareCloud (Nasdaq: CCLD, CCLDO, CCLDP) 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, patient experience management (PXM) and digital health, at www.carecloud.com.

Follow CareCloud on LinkedIn, Twitter and Facebook.

Forward-Looking Statements

This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. 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,” “shall,” “should,” “could”, “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “predicts,” “possible,” “potential,” “target,” 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 pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions.

These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they 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, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies products and services competitive with ours, 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.

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:
Norman Roth
Interim Chief Financial Officer and Corporate Controller
CareCloud, Inc.
nroth@carecloud.com

Investor Contact:
Bill Korn
CareCloud, Inc.
ir@carecloud.com

FAQ

What were the results of CareCloud's 2024 Annual Shareholder Meeting?

At the 2024 Annual Shareholder Meeting, CareCloud shareholders re-elected all four director nominees and approved the compensation for the company's named executive officers.

When was CareCloud's 2024 Annual Shareholder Meeting held?

CareCloud's 2024 Annual Shareholder Meeting was held on June 17, 2024.

Who were re-elected as directors in CareCloud's 2024 Annual Shareholder Meeting?

A. Hadi Chaudhry, John Daly, Mahmud Haq, and Cameron Munter were re-elected as directors.

What percentage of votes did CareCloud's director nominees receive in the 2024 Annual Shareholder Meeting?

CareCloud's director nominees received over 90% of the votes.

What did CareCloud's shareholders approve regarding executive compensation?

Shareholders approved the compensation of the company's named executive officers as detailed in the 2024 Proxy Statement.

What future plans did CareCloud outline at the 2024 Annual Shareholder Meeting?

CareCloud plans to grow free cash flow, expand AI solutions, and increase its customer base.