SOURCE: MTBC

MTBC

June 19, 2017 09:15 ET

MTBC Re-elects Directors and Reflects on Year of Growth at Annual Shareholders' Meeting

SOMERSET, NJ--(Marketwired - Jun 19, 2017) - MTBC (NASDAQ: MTBC) (NASDAQ: MTBCP), a leading provider of proprietary, cloud-based healthcare IT and revenue cycle management solutions, today announced that its shareholders held their 2017 annual meeting on June 15, 2017.

At the annual meeting, the shareholders re-elected Mahmud Haq, the company's founder and CEO, and Cameron Munter, a former Ambassador of the United States of America to Pakistan, to serve another term on its board of directors. They will continue to serve alongside of Anne Busquet, former president of American Express Interactive Services and New Business Development; Howard Clark, Jr., the company's audit chairman, the former CFO of American Express and former Chairman and CEO of Shearson Lehman Brothers, Inc.; John Daly, a former EVP and director of E.F. Hutton & Company; and Stephen Snyder, an M&A and healthcare attorney who serves as the company's president. MTBC's board of directors and executives together own almost 50% of the company's common stock.

In his prepared comments, Haq said, "2016 was an exciting year of achieved milestones for MTBC, including the closing and integration of our largest acquisition to date and our ramp-up in late 2016 of an experienced team of sales professionals with a track record of success in our space. We have had a strong start to 2017 with four new cross-marketing partnerships with industry leaders, two consecutive quarters of greater than 60% year-over-year revenue growth and new product releases."

Final voting tallies from this year's meeting are subject to certification and are included in the Company's most recent Form 8-K filed with the Securities and Exchange Commission.

About MTBC
MTBC is a healthcare information technology company that provides a fully integrated suite of proprietary web-based solutions, together with related business services, to healthcare providers throughout the United States. Our integrated Software-as-a-Service (SaaS) platform helps our customers increase revenues, streamline workflows and make better business and clinical decisions, while reducing administrative burdens and operating costs. MTBC's common stock trades on the NASDAQ Capital Market under the ticker symbol "MTBC," and its Series A Preferred Stock trades on the NASDAQ Capital Market under the ticker symbol "MTBCP."

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

Forward-Looking Statements
This press release contains various forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. 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 "anticipate", "believe", "continue", "could", "estimate", "expect", "goals", "intend", "likely", "may", "plan", "potential", "predict", "project", "will" or the negative of these terms or other similar terms and phrases.

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, increased sales and marketing expenses, and the expected results from the integration of our acquisitions.

Forward-looking statements are only current predictions and are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from those anticipated by such statements. These factors include, but are not limited to, the company's ability to manage growth; integrate acquisitions; effectively migrate and keep newly acquired customers 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. Although we believe that the expectations reflected in the forward-looking statements contained in this press release are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements.

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.

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SOURCE MTBC

Contact Information

  • Investor and Company Contact:
    Bill Korn
    Chief Financial Officer
    Medical Transcription Billing, Corp.
    bkorn@mtbc.com
    732-873-5133