Medical Transcription Billing Corp. to acquire Orion's assets, 13 affiliate companies — 5 insights

Medical Transcription Billing Corp. signed an agreement to buy assets of Orion and 13 of its affiliates for an estimated $10 to $12 million, according to an 8K filing.

Here are five things to know.

1. MTBC will acquire "substantially all" of Orion's and 13 of its affiliates' revenue cycle, practice management and group purchasing organization assets.

2. The transaction is expected to increase MTBC's annualized revenues by at least 50 percent.

3. MTBC purchased MediGain's assets nearly two years ago. The transaction helped MTBC grow revenues by 30 percent and "achieve record profitability" in 2017, said CFO Bill Korn.

4. MTBC is a provider of cloud-based healthcare IT and revenue cycle management solutions.

5. Orion has pending cases under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court. The company provides revenue cycle management services to independent healthcare practices and hospitals, with offices in 10 states and more than 300 employees.

"At closing, the Orion transaction would likely expand our service offerings to include long-term practice management services, niche hospital offerings and a pharmaceutical group purchasing organization that provides discounts to its physician customers," said MTBC CEO Stephen Snyder.

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