SOMERSET, N.J., Dec. 16, 2024 (GLOBE NEWSWIRE) — CareCloud, Inc. (Nasdaq: CCLD, CCLDP, CCLDO), a leading provider of healthcare technology and generative AI solutions for medical practices and health systems nationwide, today announced a strategic realignment of its leadership team, effective January 1, 2025. A. Hadi Chaudhry and Stephen Snyder will serve as Co-CEOs, with Crystal Williams appointed as President.
“We are thrilled to announce these important leadership changes,” said Mahmud Haq, Founder and Executive Chairman of CareCloud’s Board of Directors. “As we look ahead to 2025, our focus is on transformative technology-driven innovations, driving both acquisitive and organic revenue growth, and delivering an exceptional client experience. This realignment optimizes our leadership to capitalize on these priorities, ensuring improved operational margins, enhanced client revenue, and better patient outcomes.”
Chaudhry and Snyder bring a proven track record of two decades of successful collaboration. Under the new structure, with AI becoming central to CareCloud’s future success, Chaudhry will focus on advancing the Company’s technology and AI strategies, further strengthening CareCloud’s value proposition across products and delivery channels. Snyder will lead the Company’s acquisitive and organic growth strategy, driving expansion into new markets and partnerships.
As President, Williams will focus on elevating the client experience, with a particular emphasis on expanding wallet share and improving client outcomes. Williams previously served as CareCloud’s COO and brings over 20 years of leadership experience in revenue cycle management (RCM) and operational excellence.
2024: A Year of Transformation and Momentum
This leadership realignment comes on the heels of a transformative year for CareCloud. In 2024, the Company returned to positive GAAP income and achieved a 50% year-over-year increase in adjusted EBITDA, alongside significant free cash flow growth enabling the Company to pay off its entire line of credit with internally generated cash flow in the first nine months of the year. This operational success has been reflected in the market, with CareCloud’s common stock surging by over 300% in the past year.
Positioned for Growth
With this strengthened leadership team, CareCloud is well-positioned to execute on its strategy, leveraging its technology and operational expertise to deliver sustained long-term growth, improved client outcomes, and enhanced shareholder value.
About CareCloud
CareCloud brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows, and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs. Learn more about our products and services including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health at www.carecloud.com.
