- MTBC (MTBC +8.1%) acquired Washington-based revenue cycle management company's client accounts and related business assets.
- The purchase price is based on a percentage of the actual revenues earned and received from the acquired client base during the three years after closing, together with revenues from new business added after closing.
- The acquisition is expected to be accretive to earnings during 3Q17.
- Stephen Snyder, President of MTBC, said, "This transaction allows us to leverage our proprietary technology and combined team to add value to the acquired client accounts and expand our reach to new business opportunities in Washington and beyond." He continued, "We're pleased to be able to continue to play a leading role in turning market challenges into opportunities as we consolidate the highly fragmented healthcare IT market and provide enhanced solutions to healthcare providers."
- Press Release
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