Medical Transcription Billing IPO Info

Company Name: Medical Transcription Billing
Stock Symbol: MTBC
Exchange: NASDAQ
Status: Priced
IPO Date: Week of 7/23/2014
IPO Price: 5.00 (-53.20%)

Underwriters

Chardan Capital Markets, LLC, Aegis Capital Corp, Summer Street Research Partners

Amount of Offering: N/A
Number of Shares Offered: 4.08 Mil
Shares Outstanding After Offering: N/A
Valuation: N/A

Company Description

Medical Transcription Billing, Corp. 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. In addition to our experienced team in the United States, we employ a highly educated workforce of more than 1,000 people in Pakistan, where we believe labor costs are approximately one-half the cost of comparable India-based employees, thus enabling us to deliver our solutions at competitive prices.

Financial Data

For the twelve months ended March 31, 2014, without giving effect to the acquisition of the assets of the Target Sellers, our total revenue was $10.8 million, our net loss was ($581,000), and our EBITDA was $578,000. Pro forma for the acquisition of the Target Sellers, our total revenue for the twelve months ended March 31, 2014 was $32.5 million, our net loss was ($5.3 million), and our EBITDA was $2.2 million. The large net loss is due primarily to amortization of intangibles from the acquisition of the Target Sellers, estimated at $8.3 million.