Opus Bank is pleased to announce it provided:

Title: Medical Transcription Billing Corporation
Amount: $10,000,000
Month: March
Year: 2016

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.

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