Somerset-based MTBC has announced two promotions.
The cloud-based health care information technology solutions and services company made President Stephen Snyder its CEO.
A. Hadi Chaudhry, vice president of global operations, will take over as president.
Founder Mahmud Haq will take over as executive chairman of the board of directors.
“We’re very pleased to make this announcement during a banner year of corporate achievements,” Haq said. “During 2017, our leadership team enabled MTBC to repay $10 million of debt from Opus Bank ahead of schedule; fully pay the $5 million balance of our acquisition debt to Prudential; secure a $5 million revolving line of credit to support additional growth from Silicon Valley Bank; and grow our revenue and adjusted (earnings) to record levels. We also raised $17.5 million, under the leadership of our (chief financial officer), Bill Korn, through a series of successful public offerings.”
Snyder joined MTBC in 2005 as vice president, general counsel and corporate secretary. He later served as chief operating officer, beginning in January 2009. As president for the past six years, he spearheaded more than 15 acquisitions, has supported the business operations team and worked with MTBC’s CEO and CFO to complete the company’s successful initial public offering.
Chaudhry joined MTBC in 2002 as manager of IT and later served as general manager and chief information officer. He has served as vice president since October 2016. He has been a key leader in facilitating the successful integration and transition of MTBC’s acquisitions, and plays a major role in managing client relationships, devoting a large amount of time to helping them streamline their processes and maximize reimbursements, according to a release.
“The appointments of Stephen and Hadi are part of a plan that has been in the works for some time,” continued Haq. “I’ve worked closely with both Stephen and Hadi for more than 12 years and look forward to partnering with them for many more. I have the utmost confidence that their experience managing MTBC’s growth and their knowledge of the health care IT industry will enable them to help us achieve our corporate objectives.”