Medical Transcription Billing Corp (NASDAQ:MTBC) a major provider firm of proprietary, cloud-based healthcare IT services and solutions, reported its recent acquisition deal of a revenue cycle management firm’s client accounts and associated business assets, which is anticipated to be accretive to earnings in 3Q 2017.
The details
Rhonda Otte, who is the founder of the bought business who now works as a Director of Business Development for Medical Transcription in the Northwestern United States, said that the company provides the expertise and technology that their customers are seeking. Therefore, they are extremely thrilled about this new association. She added that there is a considerable opportunity to expand company’s customer base in their region and they look forward to having a major role in leading this growth.
Stephen Snyder, the President of Medical Transcription Billing, reported that this deal enables them to use their proprietary know-how and combined team to bring value to the bought customer accounts and expand their reach to new business prospects in Washington and beyond. He added that they are delighted to be able to play a major part in turning market challenges into prospects as they consolidate the extremely fragmented healthcare IT industry and offer improved solutions to healthcare providers.
The acquisition reported today of the seller’s client accounts and related resources represents Medical Transcription’s first acquisition deal of this year. The purchase price is dependent on a percentage of the actual revenues recorded and received from the bought client base during the 3 years after closing, together with sales from new business included after closing. The structure is intended to align the interests of the MTBC and seller in continuing to expand the Washington-area client base.
Medical Transcription Billing is a healthcare information technology firm that offers a fully integrated suite of web-based solutions, and linked business services, to healthcare providers working in ambulatory care setup. The integrated Software-as-a-Service platform helps their clients streamline workflows, increase revenues and make better clinical and business decisions, while reducing operating costs and administrative burdens. Medical Transcription common stock is listed on the NASDAQ platform under the ticker “MTBC”.
