Business
CareCloud Closes Strategic Acquisition, Accelerates Growth in the Hospital Market
SOMERSET, N.J., June 02, 2021 (GLOBE NEWSWIRE) -- CareCloud, Inc. (Nasdaq: MTBC) (Nasdaq: MTBCP), a leader in cloud-based healthcare technology and revenue
About this update from Carecloud, Inc.
[{"type":"text","content":"SOMERSET, N.J., June 02, 2021 (GLOBE NEWSWIRE) -- CareCloud, Inc. (Nasdaq: MTBC) (Nasdaq: MTBCP), a leader in cloud-based healthcare technology and revenue cycle solutions, today announced its continued expansion into the hospital and health system market, through its acquisition of industry leading businesses that provide IT consulting, strategic advisory services and workforce augmentation solutions to hospitals in the U.S., Canada and the Caribbean. The acquisition officially closed on June 1, 2021, as CareCloud acquired certain assets from MedMatica Consulting Associates, Inc., including assets MedMatica previously acquired from Santa Rosa Consulting, Inc. (together, “MedMatica”). “We are incredibly impressed with what the MedMatica team has been able to accomplish, and are excited to invest in their continued growth,” said Stephen Snyder, CareCloud’s Chief Strategy Officer. “By combining MedMatica’s proven processes, domain knowledge, and deep health system relationships with our operational scale, resources, and broad technology capabilities, this synergistic combination enables CareCloud to better meet the evolving needs of existing hospital clients, broadens our value proposition and positions us for further growth.” “CareCloud’s investment will further enhance our competitive edge, while enabling us to offer a broader range of essential solutions to our health system clients,” said Jerry Howell, who will continue to lead MedMatica as its CEO. “We have remarkable synergies and I couldn’t be more excited about this next phase of our growth as we continue to expand our capabilities to meet the needs of our hospital clients.” \"We’re pleased to welcome Jerry and the team,\" said A. Hadi Chaudhry, CareCloud’s CEO. \"The U.S. healthcare industry is going through an unprecedented transformation - one where technology and data are at the heart of change across the entire healthcare ecosystem. We are excited for the opportunity to pair our operational scale and powerful solutions with a new dimension of capabilities to serve this expansive market. This acquisition is in line with our previously expressed operational and financial guidance for the year and positions us to further accelerate our up-market growth strategy during 2021 and for years to come.” MedMatica has been serving the hospital market for over two decades and has...