MTBC Announces Acquisition of Renaissance Physician Services

Tennessee-Based Revenue Cycle Management Company, Renaissance Physician Services, Joins MTBC

SOMERSET, N.J., May 05, 2016 (GLOBE NEWSWIRE) -- MTBC (Nasdaq:MTBC), a leading provider of proprietary, web-based electronic health records, practice management and mHealth solutions, today announced the acquisition of Renaissance Physician Services, a revenue cycle management company based in Chattanooga, Tennessee.

“We are very pleased to announce our new relationship,” said Durie Andrews, President of Renaissance Physician Services (“Renaissance”).  He continued, “We’re excited to now be able to provide our clients with MTBC’s top-rated technology platform and other important value-adds, at no additional cost.”  Mr. Andrews, who now serves as a director of business development for MTBC, further added, “I look forward to further expanding MTBC’s client base throughout Tennessee and nearby states by leveraging our industry relationships, combined resources and expertise.”

“We are privileged to be able to partner with the healthcare providers who have trusted Renaissance for more than a decade and to welcome Durie to our business development leadership team,” said Stephen Snyder, MTBC President.  He continued, “We look forward to leveraging our proprietary technology and combined team of experts to help the clients of Renaissance further increase revenues, reduce operating costs, and enhance workflows.”

Renaissance Medical Billing, LLC, d/b/a Renaissance Physician Services, was founded in 2001.  As it grew, it expanded its reach beyond Tennessee to Georgia, Alabama, and Florida.  Its client base is comprised of primary care providers, together with cardiologists, hospitalists, neonatologists, orthopedists and other specialists.

As part of the transaction, which closed effective May 1, 2016, MTBC acquired substantially all of the assets of Renaissance, including customer contracts.

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About Medical Transcription Billing, Corp.

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 practicing in ambulatory care settings. 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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Source: MTBC