SOMERSET, NJ--(Marketwired - Sep 27, 2016) - MTBC (NASDAQ: MTBC), (NASDAQ: MTBCP), a leading provider of cloud-based healthcare IT and practice management solutions, launched a first of its kind Client Loyalty Program two weeks ago, in partnership with SEC-registered online brokerage and technology company, LOYAL3. As part of this program, MTBC is awarding 100 shares of its publicly traded common stock to its providers as a way to thank them for using MTBC's services and 1,000 shares for referring other physician practices. New MTBC clients are also eligible to participate and receive awards. MTBC has set aside 100,000 shares of its common stock, which were in treasury stock following its share repurchased program earlier in the year.
MTBC's Client Loyalty Program has garnered a favorable initial response from customers who signed up to receive their free MTBC Stock. Dr. Eric Weinstock from The Florida Psychiatric Center, who was one of the first customers to sign up for program, said, "I have been a customer of MTBC for over 7 years and I have been extremely pleased with the service they provide." Dr. Donepudi from Droidmd P LLC, another client who signed up during the initial period, said, "MTBC has provided excellent service for my practice over the years. They are very responsive and have addressed any and all issues promptly. Overall, I am very satisfied with their service and would recommend them without reservations."
As part of the Client Loyalty Program, physicians who are using MTBC's healthcare services can also nominate one staff member at their practice to receive 25 additional shares. Enthused providers were quick to nominate their office managers and admin staff and gift them their stock rewards.
"The initial response has been beyond our expectations, both from our clients and key investors," said Bill Korn, Chief Financial Officer. He added, "This not only validates client confidence in our services but also the fact that when clients own a stake in the company, they act as strategic partners and contribute to the success of the company. Savvy investors recognize that the long-term benefits, in terms of client retention and referrals of new business should far outweigh the cost of the program."
MTBC has filed a registration statement (including a prospectus and prospectus supplement) with the SEC for the offering to which this communication relates. Before you redeem your offer, you should read the prospectus in that registration statement and other documents MTBC has filed with the SEC for more complete information about MTBC and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.
Alternatively, MTBC will arrange to send you the prospectus if you request it by calling Christine Petraglia at (646) 731-9817, or visiting rewards.loyal3.com/docs/mtbc/prospectus.pdf.
Medical Transcription Billing, Corp. 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 (or 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."
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