CareCloud, Inc. (formerlyMTBC) is a publicly traded Americanhealthcareinformation technology company that provides services, to healthcare providers and hospitals.[1] The Company maintains its headquarters in Somerset, New Jersey, and employs approximately 4,000 workers worldwide.[2]
CareCloud’s common stock trades on the Nasdaq Global Market under the ticker symbol “CCLD,” and its Series A (11%), and Series B (8.75%) Preferred Stocks trade on the Nasdaq Global Market under the ticker symbols “MTBCP” and “MTBCO.”[3]
CareCloud was founded as Medical Transcription Billing Corporation (MTBC) in 1999 by American entrepreneur Mahmud Haq.[4] The earliest days of the company were focused on providing transcription and manual medical billing to healthcare providers primarily located in New Jersey.[5][6][7][8]
In 2004, the company developed a fully integrated suite of services that includes a proprietary practice management platform,ONC-ACB,meaningful use stage 2 certified complete electronic health records software and a revenue cycle management service.[9][10]
On July 23, 2014, the company went public on NASDAQ Capital Market under the ticker symbol "MTBC."[12][13][14] The preferred stock trades under “MTBCP.”[13][14]
In 2017, the company launched talkEHR, the industry’s first voice-enabled electronic health record.[15][16][17][18]
In 2019, they changed the corporation name from Medical Transcription Billing Corp. to MTBC, Inc.[8]
In 2021, MTBC changed its name to CareCloud, Inc., adopting the name of the company it had acquired the previous year.[19][20][21]
Post-IPO, the company (as MTBC) made 16 acquisitions including revenue cycle management and healthcare IT companies in the United States. Some of the key acquisitions include Gulf Coast Billing (2016),[23] Renaissance Physician Services (2016),[24][25] MediGain (2016),[26][27] Orion (2018).[28][29]
CareCloud's office in Bagh, Azad Jammu Kashmir
In 2020, MTBC made two major acquisitions of healthcare technology companies: CareCloud Corporation, a Miami-based company founded byAlbert Santalo in 2009, and Meridian Medical Management, for reportedly up to $40M and $24.8M, respectively.[30][31][32][33] In 2021, MTBC renamed itself CareCloud, Inc., taking the acquired company's name.
$117 Million (2023)