NJ TECH CORNER: MTBC, INC.
Company Overview.
MTBC, Inc., formerly known as Medical Transcription Billing Corporation (NASDAQ: MTBC), is a Somerset-based healthcare information company that provides a suite of proprietary web-based solutions and business services to healthcare providers. The company’s clients range from small medical practices to community hospitals. In July 2018, the company acquired Onion Healthcorp, Inc., and its affiliates for $12.6 million through its wholly owned subsidiaries, MTBC Health, Inc. and MTBC Practice Management Corp. Founded in 2001, MTBC has a global workforce of approximately 2,400 full-time employees.
Investment & Financial Information
| Shares of common stock outstanding (as of April 26, 2019): | 12,009,742 |
| Share price of stock (as of May 31, 2019) | $4.80 |
| Share price of stock (one year ago) | $3.47 |
| Current valuation (as of May 31, 2019) | $57.64 million |
| Valuation one year ago | $40.47 million |
| Stock Symbol: | NASDAQ:MTBC |
| Revenues (year ended Dec. 31, 2018): | $50.5 million |
| Revenues previous year | $31.8 million |
| (Net Loss) (year ended Dec. 31, 2018) | ($ 2.13 million) |
| (Net Loss) previous year: | ($ 5.56 million) |
Management Team
| Name | Age | Title |
| Mahmud Haq | 59 | Executive Chairman |
| Stephen A. Snyder | 42 | CEO |
| A. Hadi Chaudhry | 42 | President |
| Bill Korn | 61 | Chief Financial Officer |
| Norman S. Roth | 63 | Principal Accounting Officer |
| Shruti Patel | 31 | General Counsel, Corporate Secretary |
Board of Directors
| Name | Age | Title |
| Mahmud Haq | 59 | Executive Chairman |
| Stephen A. Snyder | 42 | CEO |
| Cameron Munter | 64 | President and CEO of the EastWest Institute; former Professor of International Relations, Pomona College; former U.S. Ambassador to Pakistan and Serbia |
| Howard L. Clark Jr. | 74 | Vice chairman; retired vice chairman, Barclays Capital Inc.; former vice chairman, Lehman Brothers Inc.; former chairman, CEO, Shearson Lehman Brothers; former executive vice president, CFO, American Express; director, Green Waste Energy Inc.; member of the Board of Trustees of The Boys’ Club of New York and Honorary Trustee of Boston University; former chairman of Securities Industry Association and The Bond Club University |
| John N. Daly | 81 | President, IMMS LLC; former executive, E.F. Hutton & Co., Salomon Brothers, Prudential Investments |
| Anne M. Busquet | 68 | President, AMB Advisors; director, Pitney Bowes, Intercontinental Hotels Group, Provista Diagnostics; trustee, Board of Overseers for Columbia University, the Romanian American Foundation, French Institute Alliance Francais |
Noteworthy Control
| Name | Shares of common stock owned | % of total common shares |
| Mahmud Haq | 5,086,820 | 42.4% |
[All information for NJ Tech Corner was taken from the company’s annual report and proxy statement, with the exception of the company’s stock price and valuation.]
