MTBC Announces Full Repayment of Opus Bank Term Debt
September 11 2017 - 7:00AM
Marketwired
MTBC Announces Full Repayment of Opus Bank Term Debt
SOMERSET, NJ-(Marketwired - Sep 11, 2017) - MTBC (NASDAQ: MTBC)
(NASDAQ: MTBCP) a provider of proprietary, cloud-based healthcare
IT solutions and services, today announced that it has fully repaid
its $8 million term loans from Opus Bank ("Opus"), which had
outstanding balances of approximately $7.3 million as of January 1,
2017.
"We're pleased to have repaid Opus well ahead of the maturity
date," said Bill Korn, MTBC CFO. He continued, "With the term debt
repaid, we've reduced our debt servicing cost and positioned
ourselves to pursue other exciting matters, which we hope to
announce as we move forward."
Additional information regarding MTBC's repayment of the term
debt and amendment with Opus is included in its Current Report on
Form 8-K filed with the Securities and Exchange Commission on
September 11, 2017, and is incorporated herein by reference.
About MTBC
MTBC is a healthcare information technology company that
provides a fully integrated suite of proprietary web-based and
mobile health solutions, together with related business services,
to healthcare providers throughout the United States. Its
integrated SaaS platform helps its 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 more information on MTBC, please visit www.mtbc.com.
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SOURCE MTBC
Contact Information
Company and Investor Contact: Bill Korn Chief Financial Officer
Medical Transcription Billing, Corp. bkorn@mtbc.com (732)
873-5133
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