In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Medical Transcription Billing Corp (NASDAQ:MTBC) reported that Intracoastal Capital, Llc. has picked up 1,269,757 of common stock as of 2017-05-18.
The acquisition brings the aggregate amount owned by Intracoastal Capital, Llc. to a total of 1,269,757 representing less than 9.99% stake in the company.
For those not familiar with the company, Medical Transcription Billing, Corp. is a healthcare information technology company that provides an integrated suite of Web-based solutions, together with related business services, to healthcare providers practicing in ambulatory care settings. The Company’s offering, PracticePro, allows healthcare practices with the core software and business services on Software-as-a-Service (SaaS) platform. PracticePro includes practice management software and related tools, which facilitate the day-to-day operation of a medical practice; electronic health records (EHR), which allow its customers to qualify for government incentives; revenue cycle management (RCM) services, which include medical billing, analytics and related services, and mobile Health (mHealth) solutions, including smartphone applications that assist patients and healthcare providers in the provision of healthcare services. The Company offers a clearinghouse service, which allows clients to track claim status.
A glance at Medical Transcription Billing Corp (NASDAQ:MTBC)’s key stats reveals a current market capitalization of 19.89 Million based on 11.49 Million shares outstanding and a price at last close of $1.85 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-11-15, Haq picked up 90,000 at a purchase price of $0.97. This brings their total holding to 4,987,070 as of the date of the filing.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Medical Transcription Billing Corp (NASDAQ:MTBC) as things move forward to see if its progress aligns with these transactions.
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