MTBCP CareCloud Inc

CareCloud, Inc. (Nasdaq: MTBC, MTBCO, MTBCP), a leader in healthcare technology solutions for medical practices and health systems nationwide, was recently visited at its Bagh office in Pakistan by U.S. Ambassador Donald Blome. The ambassador commended the U.S.-based company for its invaluable community support, which strengthens economic growth for the area, including the construction of an academic institution that benefits CareCloud employees, their families and the community.

“[CareCloud] is a fantastic example of the kind of quality investment that brings economic growth and development, and Pakistan has enormous potential for more of this,” said Blome, who has served as U.S. Ambassador to Pakistan since April 2022. “This is an American firm that adheres to its principles of corporate social responsibility. They brought a beautiful school here and became part of the community. Pakistan can be a place that can draw this kind of investment, and I think the world has to see more of it – has to see examples like this.”

Founded by American entrepreneur Mahmad Haq in 1999 as Medical Transcription Billing, Corp., the healthcare information technology (IT) company went public in 2014 and rebranded to CareCloud in 2021. It now offers an extensive suite of modern, cloud-based clinical, financial and administrative software and services that has empowered U.S. healthcare providers for more than two decades.

CareCloud, with more than 500 U.S.-based employees and more than 4,000 employees globally, is a leader among the growing list of U.S. companies who have a strong presence in the fast-developing country of Pakistan, leveraging its highly productive workforce of educated, English-speaking workers. Pakistan offers tax incentives on IT exports and a low cost of living and equipment, making it among the most cost-effective labor markets compared to other countries, or exclusive reliance on U.S.-based employees.

“Thousands of Pakistanis have studied in the United States and have returned to Pakistan to assume key roles in business and government,” Blome said at a Sept. 29 reception celebrating the 75-year partnership between the U.S. and Pakistan. “U.S. companies employ hundreds of thousands of Pakistanis, and we have built a network of personal and professional connections that has established a strong foundation for our relationship.”

CareCloud shares close ties with several U.S. diplomats, including current CareCloud board member and former U.S. Ambassador to Pakistan Cameron Munter. "Ambassador Blome's visit highlights the important role of CareCloud in Pakistan,” said Munter, who served as U.S. Ambassador to Pakistan from 2010 to 2012. “CareCloud’s commitment to the local community is a perfect example of how American business contributes to good relations among all parties. Moreover, these benefits, significant as they are in Pakistan, are also benefits for Americans, providing services that employ Americans, help American medical providers and offer an attractive prospect for American investors. CareCloud is, in my opinion, the perfect example of what America and Pakistan can achieve when they work together."

The newly-announced academic institution serving pre-K through 12th grade in Bagh is now open, with more than 750 students enrolled.

To learn more about CareCloud, visit carecloud.com.

About CareCloud

CareCloud (Nasdaq: MTBC, MTBCO, MTBCP) brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to improve patient care, while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, telehealth and patient experience management (PXM) at www.carecloud.com.

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SOURCE CareCloud

Company Contact:Bill KornChief Financial OfficerCareCloudbkorn@carecloud.com

Investor Contact:Gene MannheimerICR WestwickeCareCloudIR@westwicke.com

Media Inquiries:Alexis FeinbergICR WestwickeCareCloudPR@westwicke.com