CARECLOUD SOLD TO PUBLICLY TRADED HEALTHCARE-IT COMPANY

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    CareCloud, the homegrown cloud-based healthcare IT company founded by Albert Santalo in 2009, has been acquired.

    MTBC, a New Jersey-based publicly traded electronic health records company, is the buyer in a deal valued at at least $36 million. The terms include $17 million in cash and 760,000 shares of the company’s preferred Class A stock, valued at about $25 each, plus the possibility of $3 million to $4 million more if certain conditions are met. MTBC announced the closing this week.