Medical Transcription Billing Corporation
Opus Bank’s Technology Banking division provides $10,000,000 in credit facilities to Medical Transcription Billing Corporation (“MTBC”) to provide funds for future acquisitions and working capital needs, and to refinance debt
Overview of Transaction
- Medical Transcription Billing Corporation (“MTBC”) is a healthcare information technology company that provides a fully integrated suite of proprietary web-based solutions, together with related business services, to healthcare providers practicing in ambulatory care settings. MTBC’s integrated Software-as-a-Service platform helps customers increase revenues, streamline workflows and make better business and clinical decisions, while reducing administrative burdens and operating costs.
- MTBC received credit facilities to refinance existing debt and provide growth capital for future acquisitions and working capital needs.
Significance of Transaction
- Obtaining the credit facilities provided by Opus Bank (“Opus”) was a very important corporate milestone for MTBC and allows MTBC to further pursue its acquisition strategy and make important investments in its sales and marketing infrastructure.
Opus Bank's Role
- Opus provided credit facilities in a flexible structure to allow MTBC the ability to execute on its strategic corporate and growth plan.
- Opus was able to underwrite, structure, approve, and close the credit facilities within a 3-week time period, allowing MTBC to announce the credit facilities prior to commencing its Series A Preferred Stock offering.