Founder and Former CEO of Practice Fusion Joins MTBC

Tailwinds’ Take: This is a nice little coup, getting this guy on board.

SOMERSET, N.J., April 02, 2018 (GLOBE NEWSWIRE) — MTBC (NASDAQ: MTBC) (NASDAQ: MTBCP), a leading provider of proprietary, cloud-based EHR and practice management solutions, today announced that Ryan Howard, founder and former CEO of Practice Fusion, has joined MTBC as Special Advisor to the CEO.  In this role, he will be providing strategic guidance to support the growth of MTBC’s next generation EHR, talkEHR.

“Ryan is an accomplished strategist and thought leader who built the largest cloud-based physician-patient platform in the United States by offering a free EHR,” said Stephen Snyder, MTBC CEO.  “We share Ryan’s disruptive vision of empowering healthcare providers with a top-tier, free EHR and are thrilled that he will be helping support our continued growth.”

“I’m very pleased to join MTBC as Special Advisor to the CEO” said Howard. “Having spent much of the last decade building the largest physician-patient platform in the United States, I look forward to supporting MTBC’s full launch and growth of talkEHR.”

talkEHR is designed to utilize natural language processing and artificial intelligence to automate key components of patient charting and reduce manual tasks and errors. It is offered completely free of cost to healthcare providers.  talkEHR users are also eligible to upgrade to MTBC’s premium, end-to-end medical billing solution, which is offered at one of the lowest price points in the industry.

Howard, a serial entrepreneur and industry veteran, founded Practice Fusion in 2005.  Under his leadership, Howard grew Practice Fusion into one of the largest physician-patient platforms in the United States.  In 2016, Howard founded iBeat, a wearable technology company, which he continues to lead as CEO.

About MTBC

MTBC is a healthcare information technology company that provides a fully integrated suite of proprietary web-based solutions, together with related business services, to healthcare providers. Our integrated Software-as-a-Service (or SaaS) platform helps our customers increase revenues, streamline workflows and make better business and clinical decisions, while reducing administrative burdens and operating costs. MTBC’s common stock trades on the NASDAQ Capital Market under the ticker symbol “MTBC,” and its Series A Preferred Stock trades on the NASDAQ Capital Market under the ticker symbol “MTBCP.”

For additional information, please visit our website at www.mtbc.com.

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SOURCE MTBC

Disclaimer:
This press release is for information purposes only, and does not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

Disclaimer
Practice Fusion® is a registered trademark of Practice Fusion and its use does not imply an endorsement or approval of MTBC, its products or this press release.

Company Contact:

Rachel Grossinger

Marketing Manager

Medical Transcription Billing, Corp.

rgrossinger@mtbc.com

732-873-5133



Investor Contact:

Bill Korn

Chief Financial Officer

Medical Transcription Billing, Corp.

bkorn@mtbc.com

732-873-5133
Tailwinds' Disclaimers & Disclosures: For a full list of disclaimers and disclosures, please visit http://tailwindsresearch.com/disclaimer/.

4 COMMENTS

  1. Daniel –

    The current 11% preferred is trading at discount (estimated 24.60) to the up-sized new preferred being sold at 25. Seems like a no-brainer to buy the discounted preferred. Why would the current preferred trade at a discount if its the same? Know that your firm is there for the 2x and 3x baggers, but what do you think about this preferred?

    Thanks,

    Steve

    • I think it’s truly a no-brainer to buy the current preferred at a discount. However, salesmen will push the new shares for the larger commission, right?

      In terms of my thoughts on the preferred, I think it’s a great piece of paper if you’re looking for 11% cash returns. The company is doing well and I think they will be able to continue paying this dividend with no problem. However, for my personal investment, if I’m going to take the risk of buying a microcap, why would I limit myself to 11% return? There really is no upside on the preferred and, if you think the company will execute and be able to pay, then the common should return much more, right?

      You have any other names I should be looking at to add to the platform?

  2. Thanks for the feedback on the preferred. One that I have been accumulating is NBEV in the beverage space. They are led by a Westpoint, maverick CEO, former Coke and industry executive. In the fastest growing segments of the beverage industry, been digesting acquisitions and turning them around, have doubled points of distribution in the last few quarters, trading at just over 1 x ’17 sales estimated at $66 MM, they are projecting 90MM- 110MM in ’18. No debt, no warrants, close to closing a credit line with PNC. They announced an ATM a few weeks ago which killed the stock, but they needed it to finance all their growth and help to close PNC line. They also delayed their 10K this week due to several acquisitions. CEO blog said they killed it on the top and bottom line in January. Its an’18 prove it to me story, don’t think investors believe the CEO, and no-body really follows them. They were at the ROTH conference and the presentation is available on-line. Last year it traded up to 7, and recently was around 4. The story is so much better than last year and trading very cheap. Of course i am talking my book and I love their products to drink.

    • All I do is talk my book. 🙂

      Thanks for sharing the idea. It’s one I’m familiar with, but haven’t touched yet. Maybe it’s time. I’m going to revisit the story as it’s been a while.

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