CareCloud Hints at 2014 IPO

The CEO of cloud-based health IT vendor CareCloud has alluded to an initial public offering sometime next year, according to a Boston Business Journal report.

"With the JOBS Act, we see much smaller companies able to go public, and we'll be big enough next year, so we are looking at it," CEO Albert Santalo said in the report.

Last week, CareCloud announced 440 new customers in its third quarter, along with its 15th straight quarter of revenue growth. As of Oct. 1, CareCloud's platform was being used by 3,700 providers in 47 states, supporting more than 5.5 million unique patients.

CareCloud's continuing success, however, may make an IPO next year less likely, "At our current growth rate, it may make more sense to wait for a more valuable public exit," said Mr. Santalo in the report.

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