CareCloud Announces Results from Annual Shareholder Meeting

5/26, 3:15 PM (Source: GlobeNewswire)

Shareholders Re-Elect Board Members by Overwhelming Vote, Company Poised for Continued Growth

SOMERSET, N.J., May 26, 2021 (GLOBE NEWSWIRE) -- CareCloud, Inc. (Nasdaq: MTBC) (Nasdaq: MTBCP), a leader in healthcare technology solutions for medical practices and health systems nationwide, today announced that it held its 2021 annual shareholders’ meeting on May 25, 2021, during which, shareholders re-elected Stephen Snyder, Anne Busquet, and Lawrence Sharnak for another two-year term, by an overwhelming majority.

“CareCloud has enjoyed another successful year of record growth and market expansion, and we are beyond grateful to our shareholders, customers, and employees for their enthusiastic support,” said Mahmud Haq, Founder and Chairman, CareCloud. “We are pleased about the reelection of Stephen, Anne, and Larry. Our shareholders have demonstrated a clear vote of confidence in the capabilities of these veteran leaders and we look forward to continuing to work alongside them as we grow our business and expand our product portfolio.”

Stephen Snyder, Chief Strategy Officer and former CEO, has played an active role on the company’s board since 2013. Anne Busquet, a former executive at American Express and a current board member of Pitney Bowes, first became a CareCloud director in 2014. Lawrence Sharnak, also a former executive at American Express was first elected as a CareCloud director in 2020.

“Over the past 18 months, CareCloud has successfully integrated two strategic acquisitions - CareCloud Corporation and Meridian Medical Management - which propelled the enhancement of our product offering and fortified our expansion into the enterprise market,” said Hadi Chaudhry, CEO, CareCloud. “With a 381% increase in adjusted EBITDA, year-over-year, we’ve continued to invest in our sales and marketing strategies, promoting leaders within operations and client experience to support projected growth in the coming months.”

The final voting tallies from this year’s annual meeting was included in a Form 8-K, which was previously filed with the Securities and Exchange Commission.

About CareCloud

CareCloud (Nasdaq: MTBC) (Nasdaq: MTBCP) brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs. Learn more about our products and services including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, telehealth and patient experience management (PXM) at www.carecloud.com.

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Forward Looking Statements

This press release contains various forward-looking statements within the meaning of the federal securities laws. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “should,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these terms or other comparable terminology.

Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management's expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of the COVID-19 pandemic on our financial performance and business activities, and the expected results from the integration of our acquisitions.

These forward-looking statements are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission. In addition, there is uncertainty about the spread of the Covid-19 virus and the impact it may have on the Company’s operations, the demand for the Company’s services, and economic activity in general.

The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

SOURCE CareCloud

Company Contact:
Bill Korn
Chief Financial Officer
CareCloud
bkorn@carecloud.com

Investor Contact:
Matt Kreps
Managing Director
Darrow Associates Investor Relations
mkreps@darrowir.com

Media Inquiries:
Kaitlyn Mode
Corporate Communications Manager
CareCloud
kmode@carecloud.com


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