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.]

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