MTCB Inc., a Somerset-based provider of cloud IT health care services, announced on Wednesday it has acquired Meridian Medical Management.
“Meridian is our largest acquisition to date,” Stephen Snyder, CEO of MTBC, said. “We expect to provide increased revenue guidance as part of our second quarter investors call as a result of this transaction. We also believe that Meridian’s team, digital assets, and customer base will help further accelerate our growth and margin expansion during 2021 and beyond.”
Meridian Medical, a former GE Healthcare IT company, provides advanced health care IT solutions and services to health care providers nationwide. It employs more than 200 workers and maintains offices in Connecticut, New Jersey, Pennsylvania and Kansas. Its assets include robotics, cloud-based business intelligence software, revenue cycle management and electronic health records solutions.
“Meridian’s technology will further elevate MTBC’s robust solutions with additional tools to help our customers scale and increase profitability,” A. Hadi Chaudhry, president of MTBC, said. “We’re excited to welcome our new team members and customers to the MTBC family of companies.”
B. Riley FBR Inc. acted as the investment banker to Meridian during the transaction. Crosstree acted as advisors to MTBC. Financial terms were not disclosed.
