MTBC (MTBC) Approves $1M Common Stock Buyback

MTBC (NASDAQ: MTBC) announced that its Board of Directors approved a one-year $1,000,000 program to repurchase shares of MTBC's common stock. The company’s previous share repurchase program expired on January 17, 2016.

"The stock repurchase program reflects our strong confidence in MTBC's growth prospects, strategy and ability to generate long-term shareholder returns," said Mahmud Haq, Chairman and Chief Executive Officer. "Our current stock price presents us with an exciting opportunity to repurchase MTBC shares at attractive prices and thereby return value to existing shareholders," he added.

MTBC's stock repurchase program allows MTBC to repurchase shares in open-market purchases in accordance with all applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. Repurchases will depend upon a variety of factors including price, market conditions, volume limitations on purchases and other regulatory requirements, and other corporate considerations, as determined by MTBC's management team. The repurchase program does not require the purchase of any minimum number of shares and may be modified, suspended or discontinued at any time. The Company will finance the stock repurchases with existing cash balances.

Investors who are interested in selling blocks of shares through the stock repurchase program can contact Bill Korn, Chief Financial Officer, at (732) 873-5133 x 133, or Eugene Bodo at Boenning & Scattergood, Inc. at (610) 862-5368.

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