The Company creates information systems that empower healthcare organizations to increase patient care quality and experience while reducing cost and saving time. Its flagship solution, accounting for 85% of annual revenue, has been used to process over 100 million claims totaling over $10 billion in payments. The Company also sells its proprietary software suite, currently producing about 15% of annual revenue that delivers an ONC certified completely integrated electronic health record and practice management solution to outpatient medical clinics and community health centers.
For 2017, the Company is on track to generate sales of $7.9 million with $4.4 million in adjusted EBITDA, a 55.5% EBITDA margin. With additional capital there is an opportunity to expand the product offerings and further drive customer engagement in both the government and commercial sides of the business.
The Company is in the process of rolling out a new cloud-based version of its products. When this transition is completed, it will enable the Company to scale more rapidly by reducing the sales and installation cycles and delivering the product suite at a lower price point.