MTBC - MTBC STOCK NEWS

MTBC, Inc. announced the successful closing of its largest public offering, raising $27.6 million by selling 1,104,000 shares of its Series A Preferred Stock at $25 per share. After expenses, the net proceeds amount to $25.6 million. The funds will be used for working capital, general corporate purposes, and growth initiatives, including potential acquisitions. The offering exceeds the initial target of $20 million due to strong demand.

MTBC (Nasdaq: MTBC) has upsized its public offering of 11% Series A Cumulative Redeemable Perpetual Preferred Stock, priced at $25.00 per share. The company plans to sell 960,000 shares, generating gross proceeds of $24.0 million. After costs, the net proceeds are expected to be approximately $22.1 million. The offering is aimed at funding working capital, general corporate purposes, and potential acquisitions. Closing is anticipated around July 21, 2020. Underwriters include B. Riley FBR and Ladenburg Thalmann.

MTBC, Inc. (Nasdaq: MTBC) has announced a public offering of approximately 800,000 shares of its non-convertible 11% Series A Cumulative Redeemable Perpetual Preferred Stock priced at $25.00 per share. The offering includes a 30-day option for underwriters to purchase an additional 15% of the shares. Proceeds will be used for working capital, general corporate purposes, and potential acquisitions. The public offering is contingent on the effectiveness of an amended registration statement with the SEC.

MTBC, Inc. (Nasdaq: MTBC) announced that its CareCloud division is now including CareCloud Live, a HIPAA-compliant telehealth solution, in its standard software suite at no extra cost. This platform, which enhances appointment management and clinical workflows, was recognized as a Category Leader in Telemedicine Software by GetApp. The rapid development of CareCloud Live, prompted by the pandemic, allows clients to schedule telehealth visits seamlessly within their existing subscriptions. This integration reflects a significant shift towards telehealth as a standard component of healthcare.

MTBC, a provider of cloud-based healthcare IT solutions, has been chosen by Bienestar Health Group in Puerto Rico to deliver its AI-powered EHR/Telehealth platform as a white-labeled solution. This partnership aims to tackle healthcare IT challenges in Puerto Rico, enhancing patient care through interoperability and modern technology. talkEHR is ONC-ACB certified and offers comprehensive support for ambulatory care providers. Leaders from both organizations emphasize the importance of adaptability and future growth in this collaboration.

MTBC, a provider of cloud-based healthcare IT solutions, has raised its 2020 revenue guidance to $105 - $107 million, indicating a year-over-year growth of approximately 65%. The adjusted EBITDA guidance remains at $12 - $13 million. CEO Stephen Snyder attributes this increase to a strong first half and the recent Meridian acquisition. CFO Bill Korn anticipates annualized revenue of $130 - $135 million for the second half, despite a slight impact from COVID-19. The company aims for an adjusted EBITDA of $24 - $25 million in the same period, maintaining an EBITDA margin of nearly 20%.

MTBC has launched Robotic Process Automation (RPA) solutions for healthcare IT and medical billing partners, stemming from its acquisition of Meridian Medical Management. The RPA 'Microbots' automate tedious tasks within the revenue lifecycle, improving operational efficiency. As per Gartner, 50% of U.S. healthcare providers are expected to invest in RPA within three years. This initiative enhances MTBC's service offerings and profitability, positioning it ahead of market trends while aiming to streamline revenue cycle management and reduce operational costs.

MTBC, Inc. (Nasdaq: MTBC) announced a partnership with Envision Pain Management to enhance revenue cycle management (RCM) and patient experience. CareCloud, MTBC's subsidiary, will support Envision as it opens four new clinics in rural North Carolina and Wisconsin, aiming to improve provider efficiency and reduce patient wait times. Envision's focus on underserved areas drives this collaboration, with CareCloud providing comprehensive RCM services. The partnership is expected to boost patient access and clinical outcomes, aligning with Envision's mission to deliver superior pain management care.

MTBC has successfully completed its largest acquisition to date of Meridian Medical Management, enhancing its cloud-based healthcare IT solutions. This acquisition is expected to significantly contribute to MTBC's revenue growth, with management planning to revise revenue guidance upwards during the Q2 earnings call. Meridian's advanced technologies, including Robotic Process Automation, will bolster MTBC's offerings, aiming for increased scalability and profitability. Meridian employs over 200 staff, strengthening MTBC's position in the healthcare IT market.