Carecloud, Inc. current report, 23 September 2015

Full document

Business Context and Reporting Period

This Form 8-K was filed by Medical Transcription Billing, Corp. (referred to in metadata as Carecloud, Inc.) on September 23, 2015. The report discloses the filing of financial statements and pro forma information related to recent business acquisitions.

Key Financial Metrics

The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. Instead, it references the following documents for detailed financial data:

  • Acquired Business Statements: Financial statements for the RCM Division of QHR Technologies Inc. (operating as SoftCare Solutions, Inc.), acquired on July 10, 2015, are included as Exhibit 99.1.
  • Pro Forma Information: Pro forma financial data regarding the acquisitions of SoftCare, Omni Medical Billing Services, LLC, Practicare Medical Management, Inc., and subsidiaries of CastleRock Solutions, Inc., are included as Exhibit 99.2.

Material Changes

The primary material change reported is the completion of the acquisition of substantially all assets of SoftCare Solutions, Inc. on July 10, 2015. This filing serves to formally incorporate the financial results of this acquired entity and the pro forma impact of multiple recent acquisitions into the public record.

Guidance, Outlook, and Risks

The filing text does not contain management commentary, forward-looking guidance, specific risk factors, or details on contingencies. The document is strictly procedural, focusing on the submission of required financial exhibits.

Investor Verification Checklist

  • Review Exhibit 99.1 for the standalone financial performance of the acquired SoftCare Solutions, Inc. division.
  • Analyze Exhibit 99.2 to understand the pro forma financial impact of combining SoftCare, Omni Medical Billing Services, Practicare Medical Management, and CastleRock Solutions.
  • Verify the integration status of these four acquired entities into the registrant's operations.
  • Confirm the audit status of the acquired financial statements, noting the consent of Grant Thornton LLP (Exhibit 23.1).