Before the opening bell, NetworkNewsWire (“NNW”), a multifaceted financial news and publishing company that delivers a new generation of communication solutions for business, announced the online availability of an interview with Bill Korn, chief financial officer of Medical Transcription Billing, Corp. (NASDAQ: MTBC; MTBCP). During the interview, Korn joined NNW’s Stuart Smith to discuss MTBC’s operations, recent achievements and the company’s ongoing execution of an acquisition-based growth strategy in order to maintain a competitive edge in the sizable healthcare IT market.
“MTBC has two cores strengths that distinguish us from most of the 1,500 other healthcare IT companies,” Korn explained in the interview. “We have an integrated cloud-based technology platform, which we developed in-house, and we have wholly owned offshore subsidiaries with 1,600 employees in four countries, with labor costs that average about 10% of the labor costs in the U.S. This allows us to provide services which are labor intensive even though we use our technology, and we can deliver these services much less expensively than our customers or competitors can provide them.”
To hear the full interview, visit http://nnw.fm/mtbc-interview-oct-2016
Thus far in 2016, MTBC has successfully achieved a number of milestones. The company has recorded three quarters of positive EBITDA since its IPO in 2014; raised $7.5 million of non-convertible stock on the NASDAQ; and, earlier this month, closed on the acquisition of MediGain, LLC and its Millennium Practice Management, LLC affiliate, marking MTBC’s largest acquisition to-date. The MediGain acquisition was not only completed at “a significant discount as compared to the industry norm,” according to Korn, it is also expected to play a major role in MTBC’s efforts to promote financial growth in the coming months, with the company’s CFO predicting that the acquisition “should be accretive to… shareholders in 2017.”
“We believe that our newly acquired business will contribute to our positive adjusted EBITDA by the first quarter of 2017,” Korn concluded. “By growing our overall revenue greatly through this acquisition, MTBC expects to generate significant operating leverage.”
For more information, visit www.MTBC.com
About NetworkNewsWire
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing network of more than 5,000 key distribution outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge. For more information, visit www.networknewswire.com.
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