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MTBC Announces Results from Annual Shareholder Meeting

SOMERSET, N.J., June 25, 2019 (GLOBE NEWSWIRE) -- MTBC, Inc. (MTBC) (MTBCP), a leading provider of proprietary, cloud-based healthcare IT and practice management solutions, today announced that it held its 2019 annual shareholders’ meeting on June 21, 2019, during which, by an overwhelming majority, the shareholders reelected three directors and approved all proposals.

At the annual meeting, MTBC’s shareholders reelected Howard L. Clark, Jr., a former CFO of American Express, Anne Busquet, a former division president of American Express, and Stephen Snyder, MTBC’s CEO, as directors. Additionally, the shareholders approved two proposals, which were both supported by MTBC’s board.

“MTBC has enjoyed a year of exciting new milestones,” said Mahmud Haq, chairman of MTBC’s board. He continued, “During the last twelve months, we completed our largest acquisition to date, which extended the scope and strength of our offering, while expanding our footprint in the hospital market. We also grew our revenue by nearly 60% year-over-year during 2018, while more than doubling our adjusted EBITDA – and we’re on track for another year of significant revenue growth and margin expansion. We’re thankful to our shareholders, customers and employees for their support over the last year and look forward to growing our business and achieving new milestones in the year that lies ahead.”

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 MTBC
MTBC, Inc. 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 practicing in ambulatory care settings. 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 Global Market under the ticker symbol "MTBC," and its Series A Preferred Stock trades on the Nasdaq Global Market under the ticker symbol "MTBCP."

For additional information, please visit our website at www.mtbc.com. To view MTBC's latest Corporate Presentation, listen to interviews with the MTBC leadership team, and see the latest events and news about the Company, please visit the Events and Presentations page of MTBC's Investor Relations website at ir.mtbc.com/events.

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Source MTBC
Company Contact:
Bill Korn
Chief Financial Officer
MTBC, Inc.
bkorn@mtbc.com

Investor Contact:
Matt Kreps, Managing Director
Darrow Associates Investor Relations
mkreps@darrowir.com
(214) 597-8200