MTBC Announces Signing of Its Largest Client, a 950 Provider Group
SOMERSET, N.J., Nov. 27, 2017 (GLOBE NEWSWIRE) -- MTBC (NASDAQ:MTBC) (NASDAQ: MTBCP), a leading provider of mHealth and cloud-based clinical and practice management solutions, today announced the signing of a 950 provider multi-state therapy group, which is expected to ramp-up by the end of 2017 to become the client generating MTBC’s largest monthly revenue.
“We’re honored that one of the nation’s largest and most innovative clinician-owned providers of physical, occupational and speech therapy services has selected MTBC,” said Karl Johnson, MTBC SVP Sales and Marketing. “With their unique practice emphasis, and exceptional rate of sustained growth, they’ll be leveraging our integrated solution to support continued growth and scale.”
“We will begin providing services to our new client this month and expect to be generating initial revenue during fourth quarter 2017,” said Stephen Snyder, MTBC President. “As we begin 2018, this new relationship will likely represent our largest single source of monthly client revenue.”
Under the service agreement entered into by the parties on November 21st, MTBC will be providing revenue cycle management services and personnel support. MTBC will also be making available its industry leading platform and practice management solution.
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.
Follow MTBC on TWITTER, LINKEDIN and FACEBOOK.
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, the ramp-up, revenue and retention of new and existing clients, 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 transition, ramp-up, and retain new and existing customers; comply with controlling contractual obligations and legal requirements; 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.
SOURCE MTBC
Company and Investor Contact: Bill Korn Chief Financial Officer Medical Transcription Billing, Corp. bkorn@mtbc.com (732) 873-5133
Released November 27, 2017