UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 14,
2015
MEDICAL TRANSCRIPTION BILLING, CORP.
(Exact name of registrant as specified in its charter)
Delaware |
333-192989 |
22-3832302 |
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
7 Clyde Road, Somerset, New Jersey, 08873
(Address of principal executive offices, zip code)
(732) 873-5133
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
On December 14, 2015, the Board of Directors of the Company approved
a $500,000 stock repurchase program. Under the plan, the Company may repurchase up to $500,000 of its common stock. The plan runs
through January 16, 2016. Repurchases will depend upon a variety of factors, such as price, market conditions, volume limitations
on purchases and other regulatory requirements, and other corporate considerations, as determined by the Company. The repurchase
program does not require the purchase of any minimum number of shares and may be modified, suspended or discontinued at any time.
The Company will finance stock repurchases with existing cash balances. The program may be suspended or discontinued at any time
without prior notice.
Item 9.01 |
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Financial Statements and Exhibits. |
Exhibit No. Description
99.1 Press Release issued December 15, 2015, by Medical Transcription Billing Corp.
SIGNATURE(S)
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
hereunto duly authorized.
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Medical Transcription Billing, Corp. |
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Date: December 15, 2015 |
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By: /s/ Mahmud Haq |
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Mahmud Haq |
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Chairman of the Board and Chief Executive Officer |
EXHIBIT 99.1
MTBC
Announces $500,000 Stock Repurchase Program
SOMERSET, N.J., Dec. 15, 2015 (GLOBE NEWSWIRE) -- MTBC (Nasdaq:MTBC), a leading
provider of proprietary, web-based electronic health records, practice management and mHealth solutions, today announced that
its Board of Directors has approved the repurchase of up to $500,000 of the Company’s common stock. The plan runs for thirty
days.
“This
program reflects our Board of Directors’ and executive management team’s
great confidence in MTBC’s growth prospects, long-term strategy and ability to
generate long-term shareholder returns,” said Mahmud Haq, Chairman and Chief Executive
Officer. “We are confident in the strength of our business and committed to building
shareholder value as is evident through our repurchase program announcement today. Our
stock price presents us with an exciting opportunity to purchase MTBC shares at attractive
prices and return value to existing shareholders,” he added.
MTBC’s
stock repurchase program allows MTBC to repurchase shares in open-market purchases in
accordance with all applicable securities laws and regulations, including Rule 10b-18
of the Securities Exchange Act of 1934, as amended. Repurchases will depend upon a variety
of factors, such as price, market conditions, volume limitations on purchases and other
regulatory requirements, and other corporate considerations, as determined by MTBC’s
management team. The repurchase program does not require the purchase of any minimum
number of shares and may be modified, suspended or discontinued at any time. The Company
will finance the stock repurchases with existing cash balances.
About
Medical Transcription Billing, Corp.
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. For additional information, please visit our website at www.mtbc.com.
Forward-Looking
Statements
This
press release contains various forward-looking statements within the meaning of the Securities
Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These statements
relate to anticipated future events, future results of operations or future financial
performance. In some cases, you can identify forward-looking statements by terminology
such as "anticipate", "believe", "continue", "could", "estimate", "expect", "goals",
"intend", "likely", "may", "plan", "potential", "predict", "project", "will" or the negative
of these terms or other similar terms and phrases.
Our
operations involve risks and uncertainties, many of which are outside our control, and
any one of which, or a combination of which, could materially affect our results of operations
and whether the forward-looking statements ultimately prove to be correct. Forward-looking
statements in this press release include, without limitation, statements reflecting management's
expectations for future financial performance and operating expenditures, expected growth,
profitability and business outlook, increased sales and marketing expenses, and the expected
results from the integration of our acquisitions.
Forward-looking
statements are only current predictions and are subject to known and unknown risks, uncertainties,
and other factors that may cause our actual results, levels of activity, performance,
or achievements to be materially different from those anticipated by such statements.
These factors are including, but not limited to the Company's ability to manage growth;
integrate acquisitions; effectively migrate and keep newly acquired customers and other
important risks and uncertainties referenced and discussed under the heading titled "Risk
Factors" in the Company's filings with the Securities and Exchange Commission. Although
we believe that the expectations reflected in the forward-looking statements contained
in this press release are reasonable, we cannot guarantee future results, levels of activity,
performance, or achievements.
The
statements in this press release are made as of the date of this press release, even
if subsequently made available by the Company on its website or otherwise. The Company
does not assume any obligations to update the forward-looking statements provided to
reflect events that occur or circumstances that exist after the date on which they were
made.
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