CareCloud Gains Strong Shareholder Approval for Stock Expansion

CareCloud Receives Strong Affirmation from Shareholders

CareCloud, Inc. (the "Company") (NASDAQ: CCLD, CCLDO, CCLDP), recognized as a leader in providing healthcare technology solutions, has announced exciting news regarding its future growth potential. Recent reports reveal that approximately 94% of the proxies received support the proposal to increase the authorized shares of the Company. This proposal signals a strategic move to enhance the company’s flexibility and capabilities to pursue further opportunities.

Strategic Importance of the Proposal

The decision to increase the number of authorized shares aims to foster a greater range of strategic options within the company's business strategy. By enabling CareCloud to elevate its authorized common stock, the proposal paves the way for future acquisitions and facilitates organic growth endeavors. Additionally, it might allow for the conversion of existing Series A Preferred Stock into common stock. This key move underscores CareCloud's commitment to achieving long-term growth and enhancing shareholder value.

Reactions from Leadership

Stephen Snyder, Co-CEO of CareCloud, expressed enthusiasm about the strong backing from shareholders. "We are thrilled with the overwhelming support from our shareholders for this important Proposal," said Snyder. He went on to highlight the company's performance in the previous year, noting that CareCloud emerged as one of the highest-performing stocks with an appreciation of over 140%. This positive momentum reflects the company’s proactive approach toward increasing shareholder value and ensuring sustainable growth.

Encouraging Shareholder Participation

CareCloud is actively urging shareholders who have yet to submit their proxies to do so by the upcoming deadline, which is crucial for solidifying the proposal. The majority endorsement reflects the confidence that investors have in the direction CareCloud is headed.

Understanding CareCloud’s Services

CareCloud's mission revolves around providing disciplined innovation in healthcare. With a suite of technology-driven solutions, the company aims to enhance financial performance and operational efficiency for medical practices and healthcare systems. Their services include revenue cycle management (RCM), practice management (PM), electronic health records (EHR), and patient experience management. Over 40,000 providers turn to CareCloud to streamline clinical workflows, improve patient care, and minimize administrative tasks.

Looking Forward: Continuation of Growth

This strategic decision aligns perfectly with CareCloud's future goals. With its focused commitment to enhancing operational capabilities, the company is poised for continued growth. As CareCloud moves forward, its focus will remain on improving systems to provide better services to clients while enhancing value for its shareholders.

Frequently Asked Questions

What does the proposal to increase shares entail?

The proposal aims to authorize more shares for CareCloud to enhance its strategic options, including further acquisitions and organic growth opportunities.

How significant is the shareholder support for this proposal?

Approximately 94% of the shareholder proxies received have shown support for the proposal, indicating robust trust in CareCloud's direction.

Who commented on the proposal's success?

Stephen Snyder, Co-CEO of CareCloud, shared his excitement regarding the strong approval from shareholders, highlighting the company’s impressive performance last year.

Why is this increase in shares important for CareCloud?

Increasing the number of authorized shares enhances strategic flexibility, enabling CareCloud to pursue growth more effectively and potentially converting preferred stock into common stock.

What services does CareCloud provide?

CareCloud offers a range of healthcare technology solutions, including revenue cycle management, practice management, electronic health records, and patient experience management.

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