CareCloud Ranked in the Top 500 Fastest-Growing Companies in North America

Attributes 230% Revenue Growth to its growing suite of technology-enabled solutions

SOMERSET, N.J., Nov. 17, 2021 (GLOBE NEWSWIRE) -- CareCloud, Inc. (Nasdaq: MTBC) (Nasdaq: MTBCP), a leader in healthcare technology solutions for medical practices and health systems nationwide, today announced it ranked for the sixth time on the Deloitte Technology Fast 500^™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 27^th year. CareCloud grew 230% during this period.

CareCloud’s CEO and President, Hadi Chaudhry, credits CareCloud’s comprehensive suite of technology-enabled solutions, combined with a proactive, services-centric acquisitions strategy, with the company’s 230% revenue growth.

“We are honored to be listed among North America's fastest-growing technology companies,” said Chaudhry. “As a repeat winner, this accolade underscores our ability to provide compelling technology and services that consistently meet the evolving needs of healthcare providers and health systems, nationwide. From independent single provider practices to large group hospitals, our software and solutions enable providers to streamline workflows, improve clinical outcomes and increase profitability.”

“Each year the Technology Fast 500 shines a light on leading innovators in technology and this year is no exception,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. “In the face of innumerable challenges resulting from the pandemic, the best and brightest were able to pivot, reinvent and transform and grow. We celebrate the winning organizations and especially the talented employees driving their success.”

“The pandemic has underscored the urgent need for tech solutions in a variety of areas across health care, fintech, energy tech, entertainment, to name a few, so reliance on innovators like the winners of the Technology Fast 500 is more important than ever,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit & assurance practice. “These companies are not only at the cutting edge, transforming the way we do business, but most importantly, recognize the strategic importance of ongoing innovation, especially in the ever-changing world of technology.”

CareCloud, formerly known as MTBC, Inc., previously ranked as a Technology Fast 500^™ award winner for 2016. Overall, 2021 Technology Fast 500^™ companies achieved revenue growth ranging from 212% to 87,037% from 2017 to 2020, with median growth of 521%. When CareCloud was known as Medical Transcription Billing Corporation the company was included on Deloitte’s Technology Fast 500 list from 2009 to 2012. CareCloud is proud to be a six-time winner of this prestigious award.

About the 2021 Deloitte Technology Fast 500^™

Now in its 27^th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2017 to 2020.

In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.

About CareCloud

CareCloud (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.

For additional information, please visit our website at www.carecloud.com.

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Company Contact:
Bill Korn
Chief Financial Officer
CareCloud
bkorn@carecloud.com

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

Media Inquiries:
Kaitlyn Mode
Corporate Communications Manager
CareCloud
kmode@carecloud.com

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

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