Medical Transcription Billing Corp., a health IT company based in Somerset, N.J., has closed the largest acquisition in the firm's history since it went public.
MTBC has acquired substantially all assets of MediGain, a Plano, Texas-based medical billing company, and its affiliate, Millennium Practice Management, a Upper Saddle River, N.J.-based medical billing company, through its wholly owned subsidiary, according to Mahmud Haq, MTBC's CEO.
"This acquisition has allowed us to expand our client base and will allow us to show significant revenue growth in 2017," he said in a statement.
Substantially all of MediGain's assets, including customer accounts, intellectual property, and offshore operations in India and Sri Lanka, were acquired by MTBC's wholly owned subsidiary, MTBC Acquisition Corp., Oct. 3, according to a news release.
Financial details of the transaction were not disclosed.
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