MTBC, based in Somerset, said in a news release that its wholly owned subsidiaries MTBC Health Inc. and MTBC Practice Management Corp. have wrapped up the deal, first announced in May.
Although financial terms were not disclosed, MTBC said the deal is its largest to date.
“The Orion acquisition is an important milestone and will further expand our client base, team and offerings,” CEO Stephen Snyde said in a prepared statement. “This combination will significantly accelerate our growth as we scale our business, enabling us to grow revenues without a corresponding increase in overhead, while expanding margins and investing in the people and technology that enable us to provide world-class service.”
Snyder added that the deal gives MTBC two new revenue segments, long-term practice management services and a physician group purchasing organization.
Kelli Caskey, formerly of the Orion team, now serves as president of MTBC Health.
The business units in the deal operate in 10 states and employ more than 300 employees, MTBC said.
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