Publicly traded company acquires South Florida-based tech firm for $36M

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    MTBC, a publicly traded cloud-based health care IT company, has acquired Miami-based CareCloud Corp.

    The deal is valued at $36 million. It includes $17 million in cash plus 760,000 shares of the company’s 11% Series A Cumulative Redeemable Perpetual Preferred Stock, or a type of stock paid out after a specific amount of time, valued at about $25 each. If CareCloud’s 2020 revenue exceeds $36 million, the seller will receive a payment equal to the excess up to $3 million.