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CareCloud (Nasdaq: MTBC, MTBCP) has announced its participation in the Roth Virtual London Conference from June 21-23, 2021. This event will provide an opportunity for investors to meet with the management team. Interested parties can arrange meetings through the conference sponsor or by contacting CareCloud's Investor Relations. CareCloud specializes in healthcare technology solutions aimed at enhancing financial and operational performance for medical practices and health systems. With over 40,000 providers using its services, CareCloud continues to innovate in the healthcare industry.
CareCloud (Nasdaq: MTBC, MTBCP) announced enhancements to its talkEHR and talkPHR platforms, aimed at improving the patient experience. The updates include a faster user interface, digitized patient intake forms, expanded communication capabilities, an optimized telehealth experience, and a unified login for managing multiple accounts. These improvements are designed to empower patients in managing their health information and promote engagement with healthcare providers.
CareCloud (Nasdaq: MTBC, MTBCP) has expanded into the hospital and health system market with the acquisition of MedMatica Consulting Associates, effective June 1, 2021. This strategic move enhances CareCloud's operational capabilities, allowing it to offer a broader range of IT consulting and workforce solutions to over 100 health systems. The acquisition aligns with CareCloud's growth strategy and is expected to improve client services. MedMatica, now rebranded as medSR, will operate independently under its existing leadership.
CareCloud (Nasdaq: MTBC, MTBCP) announced the re-election of board members Stephen Snyder, Anne Busquet, and Lawrence Sharnak during its annual meeting held on May 25, 2021. The vote reflected strong shareholder confidence, signifying continued support for the company's leadership. CEO Hadi Chaudhry highlighted a remarkable 381% increase in adjusted EBITDA year-over-year, attributed to strategic acquisitions that enhanced their product offerings. CareCloud aims to invest in growth and client experience amidst ongoing market expansion.
CareCloud (MTBC, MTBCP) announced a partnership with U.S. Physiatry (USP) to enhance revenue and collections.
USP, a leading physiatry group, chose CareCloud for its technology solutions to streamline workflows and reduce costs. CareCloud has supported USP's growth since 2014, offering Practice Management and EHR solutions. The collaboration aims to further boost profitability and operational efficiency, allowing USP to focus on patient care. CareCloud’s innovative technology is pivotal in enabling USP’s expansion and improving revenue cycles.
CareCloud (Nasdaq: MTBC, MTBCP) has announced monthly cash dividends for its Series A Preferred Stock at $0.22917 per share for June, July, and August 2021. This maintains a streak of 70 consecutive months of dividends since the stock's launch in November 2015. The ex-dividend dates are June 29, July 29, and August 30, 2021, with corresponding record dates on June 30, July 31, and August 31, 2021, and payment dates set for July 15, August 16, and September 15, 2021. The 11% annual rate applies to a $25.00 liquidation preference.
CareCloud (Nasdaq: MTBC, MTBCP) reported a 36% revenue growth in Q1 2021, reaching $29.8 million. The company's GAAP net loss decreased to $2.0 million from $2.5 million in Q1 2020. Adjusted net income stood at $2.9 million, equivalent to $0.20 per share, while adjusted EBITDA soared by 381% to $3.7 million. The results reflect strong integration from recent acquisitions. CareCloud ended Q1 with approximately $21.0 million in cash and aims for continued growth amidst an expanding customer base.
CareCloud (Nasdaq: MTBC, MTBCP) has announced the promotion of Loraine Goetsch to Division President and Steve Link to Senior Vice President of Client Operations. These promotions aim to support the company's scalability and enhance operational integration. CareCloud experienced record growth in 2020, and leadership emphasizes the importance of aligning global teams to optimize service delivery. Goetsch and Link bring extensive experience in the healthcare industry, poised to drive operational excellence and support ongoing growth.
CareCloud (formerly MTBC) will announce its Q1 financial results on May 6, 2021, before market opening. A conference call for investors is scheduled at 8:30 a.m. ET. The call will be accessible via live webcast, and a replay will be available shortly after. CareCloud offers a range of healthcare technology solutions aimed at improving operational performance and patient care, with over 40,000 providers relying on their services. For more details, visit their investor relations site.
CareCloud (Nasdaq: MTBC, MTBCP) has announced key promotions within its management, elevating Daniel Masvidal to Senior Vice President of Client Success and Dwight Garvin to Senior Vice President of Professional Services. These appointments aim to enhance client services and improve operational outcomes as the client base continues to expand. Masvidal will lead efforts to deliver exceptional client experiences, while Garvin will oversee product implementations and integrations. Both leaders bring extensive experience in healthcare IT, positioning CareCloud for future growth.
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