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MTBC Acquires Metro Medical Management Services, Inc., a NYC-based Revenue Cycle Management Company

SOMERSET, NJ, July 2, 2013 (GLOBE NEWSWIRE) -- MTBC, a leading provider of electronic health record software, practice management, revenue cycle management and patient engagement solutions, announced today that it has acquired Metro Medical Management Services, Inc., a revenue cycle management company based in New York City.

Terry Sonterre, founder and CEO of Metro Medical Management Services, Inc., said, "I'm excited about our new partnership with MTBC, which will enable us to better serve our clients and offer them MTBC's leading-edge technology platform and enhanced services." Mr. Sonterre further stated, "MTBC shares our commitment to providing excellent customer support and has the resources to significantly expand the scope of services we presently offer to our clients."

"We are privileged to have the opportunity to partner with Terry and his team as they continue to serve the many healthcare providers who have relied upon them for so many years," said Mahmud Haq, CEO of MTBC. He further explained, "Our combined resources, together with our proprietary, technology-driven solutions, will allow us to help these providers further increase practice revenues, reduce administrative expenses and streamline workflows."

"This acquisition is the most recent in a series of transactions, which are part of a larger trend of consolidation within the revenue cycle management and technology segments of the healthcare industry," said Stephen Snyder, President of MTBC. "Various factors are driving this trend, including governmental incentives for providers who use a certified EHR, the looming ICD-10 deadline, a growing recognition regarding the importance of using fully integrated platforms, and the increasing complexity of reimbursement rules and privacy requirements."

Metro Medical Management Services, Inc. was founded in 1998 and provides revenue cycle management services to clients throughout the New York City metro area. Mr. Sonterre, the founder and CEO of Metro Medical Management Services, Inc., has joined MTBC's executive team as an executive vice president and will be helping to drive new business development.

Bryce DeGroot of Compass Advisors, served as MTBC's acquisition advisor in this transaction. www.compass-advisors.com

About MTBC

Founded in 1999 and based in Somerset, New Jersey, MTBC provides practice and revenue cycle management services and proprietary software solutions to private physician offices and hospital-employed provider groups throughout the United States. Its integrated and competitively priced premium products, PracticePro™ and ChartsPro™, present a service suite unmatched in the industry in scope and value. MTBC has been consistently recognized as a Deloitte Technology Fast 500 company - 2009, 2010, 2011 and 2012 - and has also been recognized during each of the last three years as an Inc. 500│5000 company.

To learn more about MTBC, please visit www.mtbc.com.

CONTACT: Stephen Snyder, President Medical Transcription Billing, Corp. Telephone: (732) 873-5133 x113 Fax: (732) 873-3378 ssnyder@mtbc.com

Source: MTBC