MTBC Announces Final $5 Million MediGain Acquisition Payment
October 02 2017 - 6:15AM
MTBC (NASDAQ: MTBC) (NASDAQ: MTBCP) a provider of proprietary,
cloud-based healthcare IT solutions and services, announced today
that it has made its final payment of $5 million, plus interest,
related to the MediGain transaction.
“On September 28, 2017, MTBC paid Prudential
$5,270,000, comprised of principal and accrued interest due related
to the MediGain transaction,” explained MTBC in the 8-K filed with
the Securities and Exchange Commission on October 2, 2017. It
continued, “MTBC’s September 28th payment constituted payment in
full of MTBC’s obligation to Prudential.”
“We were pleased to announce last month that we
had fully repaid our Opus Bank term debt well ahead of the maturity
date and we are likewise pleased today to announce the full
satisfaction of our MediGain acquisition consideration,” said
Stephen Snyder, MTBC President. He continued, “The repayment
of our debt, combined with our significant year-over-year revenue
growth and record Adjusted EBITDA, leaves us well positioned as we
continue to grow and consolidate our segment of the market.”
Additional information regarding MTBC’s final
payment is included with its Current Report on Form 8-K filed with
the Securities and Exchange Commission on October 2, 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.
Follow MTBC on TWITTER, LINKEDIN and
FACEBOOK.
SOURCE MTBC
Company and Investor Contact:
Bill Korn
Chief Financial Officer
Medical Transcription Billing, Corp.
bkorn@mtbc.com
(732) 873-5133
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