MCK - MTBC Acquires CareCloud For Medical Practice Management Tech
Quick Take
MTBC (MTBC) has announced the acquisition of CareCloud Corporation for up to $40.5 million in cash, perpetual preferred stock and contingent consideration, plus warrants.
CareCloud has developed advanced physician practice management software.
With the deal, MTBC seeks to deepen and expand its offering set to medical practice management.
However, the stock appears overvalued given current financial assumptions and management provided little detail about the deal’s rationale and expected financial effects, so my bias is NEUTRAL.
Target Company
Miami, Florida-based CareCloud was founded to develop a suite of physician practice software tools