Two weeks ago Medical Transcription Billing Corp (NASDAQ:MTBC) made some news which sent investors scrambling on the long side, this came after releasing earnings numbers and announcing new partnerships with healthcare providers which sent the stock on a tear. The rally started on April 25th launching from around .35 cents and accelerated to $2.40 last week on huge volume sending these shares 230% higher for 2017.
A look at the chart below shows this meteoric rise in the price. Shareholders have not seen these prices since 2015 for MTBC so they are dancing in the streets hoping the trend has turned higher.
Medical Transcription Billing Corp (NASDAQ:MTBC) announced its new partnership with Health Compliance Network, LLC, a leading provider of compliance solutions to hospitals and medical groups throughout the United States.
“We are excited to launch our new partnership with Healthcare Compliance Network, a recognized leader in the healthcare compliance arena,” said Karl Johnson, SVP, Sales and Marketing for MTBC. He continued, “We look forward to helping each other grow as we coordinate marketing efforts and focus on adding value to each other’s service offerings.”
“As a company that’s committed to compliance and industry leading revenue cycle management solutions, MTBC is a great fit for our customers,” said Wiks Moffat, Healthcare Compliance Network’s Principal. Wiks added, “There are great synergies between our respective solutions and we look forward to working together.”
The partnership between MTBC and Healthcare Compliance Network was officially launched on April 25, 2017. Among other things, the partnership will include cross-marketing and coordination regarding service offerings.
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$MTBC 10-Day Chart Below:The company also closed an important deal with Fogo Data Centers who deliver advanced cloud hosting technologies and world-class customer service for growing enterprises nationwide. They deliver products and services through a network of owner-operated SOC II, HIPAA and PCI compliant regional data centers.
“We are thrilled to unveil our new collaboration with Fogo, a recognized leader in healthcare data management, including complex electronic medical record transitions for large healthcare providers,” said Karl Johnson, SVP, Sales and Marketing for MTBC. He continued, “Since we provide related, but distinctly separate services, we believe we can each help each other enhance our value to both current and potential customers.”
“We specialize in providing services to clients who are looking to enhance their IT infrastructure and partners seeking to increase revenue and provide expanded services to their end users,” said William G. Esslinger, Jr., Fogo Data Centers’ CEO. Esslinger added, “MTBC presents us with an exciting opportunity to develop synergies between our respective solutions, and we look forward to working together.”
The partnership between MTBC and healthcare-centric Fogo Data Centers was officially launched on May 10, 2017. The respective firms will cross-market their services and collaborate on potential service offerings.
MTBC (NASDAQMKTS:MTBC) 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 throughout the United States. They have a integrated Software-as-a-Service (SaaS) platform that’s helps customers increase revenues, streamline workflows and make better business and clinical decisions, while reducing administrative burdens and operating costs.
This is a needed service in nearly every business, so now it will be about execution for companies like this as the market place matures and the services are integrated. This often expands other products within the list of services companies offer, and the relationship with the company deepens.
One of the keys here will be how the shares perform after this upstart rally so these new shareholders stay around for the long haul. Long declines in stocks strip out weak holders so it seems the decks are cleared here for MBTC to get back to the business of day to day execution for their clients. For continuing coverage on shares of $MTBC stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: We have no position in MTBC and have not been compensated for this article.