SOMERSET, N.J., Dec. 11, 2017 (GLOBE NEWSWIRE) -- Medical Transcription Billing, Corp. (NASDAQ: MTBC) (NASDAQ: MTBCP), a leading provider of proprietary, cloud-based healthcare IT solutions and services, today announced the closing of its public offering of 155,440 shares of its non-convertible 11% Series A Cumulative Redeemable Perpetual Preferred Stock (“Series A Preferred Stock”) at a price of $25 per share, for gross proceeds of approximately $3.9 million.

H.C. Wainwright & Co., acted as exclusive lead placement agent for the offering and Boenning & Scattergood, Inc. acted as co-placement agent. After deducting the placement agent’s fees and other estimated offering expenses payable by MTBC, the net proceeds to MTBC are approximately $3.4 million.

“We’re grateful to our investors and bankers for helping us close this upsized and oversubscribed offering of our Series A Preferred Stock,” said Stephen Snyder, MTBC President. He continued, “As we generate positive cash from operations, remain free of long-term debt, and have a $5 million undrawn revolving line of credit to support growth, we are well positioned to continue increasing our revenue and profitability to record levels in 2018.”

About MTBC

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 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. MTBC's common stock trades on the NASDAQ Capital Market under the ticker symbol “MTBC,” and its Series A Preferred Stock trades on the NASDAQ Capital Market under the ticker symbol “MTBCP.”

For additional information, please visit our website at www.mtbc.com.