CareCloud, Inc. (formerly MTBC) is a publicly traded American
healthcareinformation 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]
History
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][9]
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.[10][11]
On July 23, 2014, the company went public on NASDAQ Capital Market under the ticker symbol "MTBC."[13][14][15] The preferred stock trades under “MTBCP.”[14][15]
In 2017, the company launched talkEHR, the industry’s first voice-enabled electronic health record.[16][17][18][19]
In 2019, they changed the corporation name from Medical Transcription Billing Corp. to MTBC, Inc.[9]
In 2021, they changed the corporation name to CareCloud, Inc.[20][21][22]
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),[24] Renaissance Physician Services (2016),[25][26] MediGain (2016),[27][28] Orion (2018).[29][30]
In 2020, CareCloud (formerly MTBC) made two major acquisitions of healthcare technology companies; CareCloud Corporation and Meridian Medical Management for reportedly up to $40M and $24.8M, respectively.[31][32][33]
In 2020, CareCloud (as MTBC) was awarded public company of the year by TechUnited New Jersey.[39][40] In years 2009-2012 and 2016, the company was included in the
Deloitte Technology
Fast 500 list as a fastest growing US tech company.[41][42][43] In years 2010-2013, they were included in the
Inc. 5000 as a fastest growing US company.[44] In 2012, CareCloud was nominated for the US Secretary of State's Award for
Corporate Excellence.[12] In 2015, they were ranked as a Top 50 EHR software company by Medical Economics.[45]