CareCloud has Boston abuzz
CareCloud, a Miami-based company that provides cloud-based practice management, electronic health records and medical billing software and services, has opened a Boston office, located in the heart of the city's Innovation District.
Boston is CareCloud's second site. It will allow the company to bolster its engineering, product marketing and operational capabilities - as well as house key members of its executive team, according to a CareCloud news release.
"We could not be more excited to open our Boston office in the heart of the city's thriving Innovation District and join one of the country's most vibrant healthcare ecosystems," said Albert Santalo, CareCloud chairman and CEO, in a news release. "When CareCloud began looking for locations for our second office, Boston became the clear choice, based on its established healthcare and technology communities, world-class talent, and unmatched support for growth companies. The City of Boston and the Commonwealth of Massachusetts quickly provided their full resources to help CareCloud find the best possible location that would allow us to firmly plant our feet in the Boston business community. We are now beginning our recruiting efforts and job creation, which is critical for us to support our rapidly growing network of physician practices on our cloud-based platform."
Boston Mayor Thomas M. Menino was on hand March 12 to welcome CareCloud to the city.
LifeTech Boston, Menino's program created in 2004 to target Boston's life sciences industry for growth, heped CareCloud find its new 7,000 square foot location at Tower Point.
"Thanks to the work of the LifeTech Boston team, CareCloud is on track to thrive in the growing life sciences and healthcare technology cluster along the South Boston Waterfront," Merino said.
CareCloud’s new office situates it near competitors athenahealth, based in Watertown, Mass., and eClinicalWorks in Westborough, Mass. athenahealth announced on March 12 it had completed the deal to buy mobile health company Epocrates. Like CareCloud, athenahealth is poised to grow, with plans to open a new office in Atlanta, which is expected to result in 700 new jobs. Last December, athenahealth announced it would acuire from Harvard Univesity an 11-building campus known as the "Arsenal on the Charles," in Watertown, about 10 miles from downtown Boston.
Headquartered in Miami, CareCloud has more than 180 employees and clients in 45 states. Helping its physician clients to increase collections, streamline operations and improve patient care, CareCloud manages more than $2 billion in account receivables via its cloud-based billing service., according to the company.
CareCloud received over $20 million in Series A funding from Intel Capital and Norwest Venture Partners in 2011.