CareCloud Bundle
Who Owns CareCloud?
Understanding a company's ownership is key to grasping its strategic direction and market influence. CareCloud, Inc., a healthcare technology firm, rebranded in March 2021 from Medical Transcription Billing Corporation (MTBC), signaling a shift towards cloud-based IT solutions. This evolution highlights the significance of knowing who controls CareCloud, impacting its operations and innovation.
Founded in 1999 by Mahmud Haq as Medical Transcription Billing Corporation, CareCloud now operates as a publicly traded entity on the Nasdaq Global Market under 'CCLD'. Headquartered in Somerset, New Jersey, it provides cloud-based solutions like EHR and practice management software to over 40,000 providers nationwide.
As of August 21, 2025, CareCloud's market capitalization stands at approximately $111.73 million. The company offers a comprehensive suite of solutions, including its CareCloud PESTEL Analysis, to healthcare providers.
Who Founded CareCloud?
The company that is now known as CareCloud began its journey in 1999 under the name Medical Transcription Billing Corporation (MTBC). It was founded by Mahmud Haq, who continues to play a pivotal role in the organization. His vision was to create advanced IT solutions for healthcare practices, starting with transcription and billing services.
| Founding Year | 1999 |
| Founder | Mahmud Haq |
| Initial Focus | Medical Transcription and Billing |
Founder's Background
Mahmud Haq brought significant experience to his founding role. He previously served as CEO and President of Compass International Services Corporation and as Vice President of Global Risk Management for American Express.
Early Vision
The company's initial aim was to provide healthcare practices with user-friendly and customizable IT solutions. The focus was on addressing market needs in medical transcription and billing.
Foundational Ownership
While specific early equity splits are not public, Mahmud Haq's role as founder established a significant insider stake from the outset.
Series C Funding
By August 2014, the company had secured approximately $25 million in Series C funding. This capital came from notable early investors, including TPG and Intel Capital.
Current Shareholding
As of May 2025, Mahmud Haq remains the largest individual insider shareholder. He holds 40.81% of the company's shares, totaling 5,034,520 shares as of December 28, 2023.
Enduring Influence
Mr. Haq's substantial shareholding underscores his continued significant influence on the company's strategic direction since its inception.
The company's history of ownership is deeply intertwined with its founder, Mahmud Haq. His initial vision and subsequent leadership have shaped its trajectory. The early capital injections, such as the Series C funding round, were instrumental in the company's growth and technological advancements, attracting significant investment from firms like TPG and Intel Capital. Understanding this early ownership structure is key to grasping the company's current standing and its Marketing Strategy of CareCloud.
Key Ownership Details
Mahmud Haq, the founder, continues to be the primary individual shareholder, demonstrating a long-term commitment and significant control over the company's direction.
- Founder: Mahmud Haq
- Largest Individual Insider Shareholder (as of May 2025): Mahmud Haq
- Shareholding Percentage: 40.81%
- Number of Shares Held (as of Dec 28, 2023): 5,034,520
- Early Investors: TPG, Intel Capital
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How Has CareCloud’s Ownership Changed Over Time?
CareCloud, Inc.'s ownership journey began with its public debut as MTBC on July 23, 2014. A significant shift occurred in January 2020 with the acquisition of CareCloud Corporation, leading to a rebranding and a new ticker symbol, solidifying the current ownership structure.
| Date | Event | Impact |
|---|---|---|
| July 23, 2014 | MTBC goes public on NASDAQ Capital Market (Ticker: MTBC) | Initial public offering, establishing a public ownership base. |
| January 2020 | Acquisition of CareCloud Corporation (approx. $40 million) | Led to the eventual rebranding and integration of operations. |
| March 29, 2021 | MTBC rebrands as CareCloud, Inc. (Ticker: CCLD) | Reflects the strategic acquisition and unified company identity. |
| March 2025 | Conversion of Series A preferred shares to common stock | Reduced annual dividend commitments by approximately $7.7 million. |
As of May 2025, insider ownership represents a dominant force in CareCloud's shareholder landscape, with a collective holding of 50.97%. Mahmud Haq, the founder and Executive Chairman, is the largest individual shareholder, controlling 40.81% of the outstanding common stock as of December 28, 2023. The executive leadership team and directors collectively held about 38% of both common stock and voting power by the end of 2024, indicating substantial management influence over corporate direction. This concentration of insider ownership is a key factor in understanding who owns CareCloud and how its strategic decisions, such as its focus on AI and acquisitions, are shaped. The company's history of ownership changes over time reflects its growth and strategic evolution, culminating in its current structure as a public entity with significant insider control.
Key Stakeholders in CareCloud's Ownership
CareCloud's ownership is characterized by a strong insider presence complemented by growing institutional investment. Understanding these stakeholders is crucial for grasping the company's strategic trajectory.
- Mahmud Haq: Founder and Executive Chairman, holding 40.81% of common stock (as of Dec 28, 2023).
- Directors and Executive Officers: Collectively held approximately 38% of common stock and voting power (as of Dec 31, 2024).
- Institutional Investors: Increased holdings from 4.20% to 11.72% between Dec 2024 and March 2025, with 60 institutions holding 8,399,162 shares as of August 2025.
- Notable Institutional Investors: Include Vanguard Group Inc, BlackRock, Inc., and Morgan Stanley.
- Mutual Funds: Held 4.41% of the company's shares as of May 2025.
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Who Sits on CareCloud’s Board?
The governance of CareCloud, Inc. is steered by its Board of Directors, a group that also represents significant ownership stakes in the company. The current executive leadership includes Founder and Executive Chairman Mahmud Haq, Co-Chief Executive Officers A. Hadi Chaudhry and Stephen Snyder, and President Crystal Williams. Additional board members elected in May 2025 are Anne Busquet, Bill Korn, and Lawrence Sharnak, with Cameron P. Munter and Norman Roth also noted as insiders holding company shares.
| Director/Insider | Role | Ownership Interest (as of Dec 31, 2024) |
|---|---|---|
| Mahmud Haq | Founder and Executive Chairman | 40.81% (as of May 2025) |
| A. Hadi Chaudhry | Co-Chief Executive Officer | Part of collective insider holdings |
| Stephen Snyder | Co-Chief Executive Officer | Part of collective insider holdings |
| Crystal Williams | President | Part of collective insider holdings |
| Anne Busquet | Director | Part of collective insider holdings |
| Bill Korn | Director | Part of collective insider holdings |
| Lawrence Sharnak | Director | Part of collective insider holdings |
| Cameron P. Munter | Insider | Holds company shares |
| Norman Roth | Insider | Holds company shares |
As of December 31, 2024, the collective ownership by directors and executive officers amounted to approximately 38% of the company's common stock and its associated voting power. This significant concentration of voting power, notably driven by Mahmud Haq's 40.81% stake as of May 2025, grants these individuals substantial influence over shareholder decisions. CareCloud's common stock operates on a one-share-one-vote basis, though Series B Preferred Stock holders have limited voting rights, primarily concerning the election of two directors if dividends are in arrears for eighteen or more months. While no recent activist campaigns have been publicly reported, this insider voting power significantly shapes the company's governance dynamics, impacting decisions on director elections and overall management, and is a key aspect of understanding Competitors Landscape of CareCloud.
Understanding Voting Power
The concentration of voting power among CareCloud's board members and executives is a defining characteristic of its corporate structure. This insider control influences strategic direction and shareholder approvals.
- Mahmud Haq holds a significant majority stake, impacting overall voting power.
- Directors and executive officers collectively own approximately 38% of voting stock.
- The company follows a one-share-one-vote principle for common stock.
- Series B Preferred Stock has limited voting rights, contingent on dividend arrears.
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What Recent Changes Have Shaped CareCloud’s Ownership Landscape?
Recent developments indicate significant shifts in CareCloud's ownership and strategic direction. A leadership realignment in early 2025 appointed new Co-CEOs and President, signaling a focus on innovation and growth. The company has also actively pursued acquisitions, further shaping its ownership landscape.
| Development | Date | Impact |
| Leadership Realignment (Co-CEOs, President) | January 1, 2025 | Accelerated technology innovation, revenue growth, AI strategies |
| Acquisition of MesaBilling LLC | February 2025 | Accretive growth expected within 90 days |
| Acquisition of RevNu Medical Management | April 2025 | Accretive growth expected within 90 days |
| Authorized Common Stock Increase | January 27, 2025 (Filed Feb 5, 2025) | Increased flexibility for capital raises and strategic transactions |
| Series A Preferred Share Conversion | March 2025 | Reduced annual dividend commitment by approximately $7.7 million |
| Inclusion in Russell Microcap Index | Effective June 30, 2025 | Increased market recognition and investor confidence |
Ownership trends reveal a dynamic environment for CareCloud. Insider ownership remains a significant factor, with substantial share purchases in the preceding 24 months. Concurrently, institutional ownership has seen a notable increase, suggesting growing investor interest. The company's stock performance, including a surge of over 300% in 2024 and a 262.76% market capitalization increase in one year as of August 21, 2025, underscores this positive momentum.
Insider Ownership Strength
Insiders held 50.97% of the company's stock in May 2025. They actively purchased shares, demonstrating confidence in the company's future.
Growing Institutional Interest
Institutional ownership expanded significantly, rising from 4.20% to 11.72% between December 2024 and March 2025.
Strategic Acquisitions
The company completed two key acquisitions in early 2025, MesaBilling LLC and RevNu Medical Management, to fuel growth.
Financial Structure Enhancement
A conversion of preferred shares in March 2025 improved the capital structure and cash flow by reducing dividend obligations. Understanding these shifts is crucial for analyzing Revenue Streams & Business Model of CareCloud.
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