Recent Acquisition & Partnership to Enhance Customer Base - Report on Medical Transcription Billing

Aug 05, 2015, 09:20 ET from www.aciassociation.com

NEW YORK, August 5, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Medical Transcription Billing Corp. (NASDAQ: MTBC). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=MTBC

Highlights from our MTBC Report include:

  • Acquisition Deal with QHR Corporation - In a press release dated July 14, 2015, Medical Transcription Billing Corp. (MTBC) announced that it has acquired three divisions of SoftCare Solutions, Inc. - the U.S. subsidiary of QHR Corporation, a leader in Healthcare Technology. Under the terms of the transaction that closed on July 10, 2015, MTBC acquired substantially all of the assets of QHR's U.S. based healthcare clearinghouse, EDI, and revenue cycle management divisions. The Company informed that the acquired assets expands its customer base to over 2,000 healthcare providers throughout the U.S., and also brings in intellectual property and other assets necessary to support the ongoing operations of the divisions.
  • MTBC and QHR's Management Opinion on the Deal - Commenting on the acquisition of SoftCare Solutions, Stephen Snyder, President of MTBC, said, "This acquisition presents MTBC with a unique strategic opportunity. The vertical integration of the clearinghouse and EDI divisions with our existing healthcare information technology offering, supported by almost two thousand employees worldwide, will drive increased efficiencies, platform enhancements and a further expansion of our customer base throughout the U.S." Further, Mike Checkley, President and CEO of QHR, added, "MTBC has the structure and vision to take the acquired divisions forward. We see MTBC as a great fit for the customers and staff."
  • Partnership Deal with Amazing Charts - In another press release dated May 15, 2015, MTBC announced its partnership with Amazing Charts, a leading developer of Electronic Health Record (EHR) and Practice Management systems for physician practices. Under the terms of the partnership the duos aims to offer an enhanced integrated EHR and revenue cycle management solution for providers. Commenting on the partnership Matt Pierce, Amazing Charts vice president of business development, said, "We are excited to include MTBC in our Partner Community program and expect Amazing Charts customers to find great value in their offerings."
  • Views of Management On Deal with Amazing Charts - Commenting on the partnership with Amazing Charts, Snyder said "We're very pleased to be launching our new partnership with Amazing Charts and look forward to helping additional Amazing Charts users increase revenues, while reducing expenses and streamlining workflows. We believe that the combination of Amazing Charts' industry leading EHR and MTBC's industry leading revenue cycle management solution, which we're offering at the lowest price point in the industry, is a very compelling option."

To find out how this influences our rating on Medical Transcription Billing Corp. read the full report in its entirety here: http://www.aciassociation.com/?c=MTBC

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