South Florida Company Hand-Picked To Compete For ‘World’s Smartest Start-up’

MIAMI, FL, September 14, 2010 – CareCloud today announced that it has been named co-winner of IBM’s SmartCamp Silicon Valley, an exclusive global program sponsored by IBM with the goal of bringing together entrepreneurs, investors and experienced mentors who want to build a Smarter Planet. The program, through which IBM seeks to identify and support innovative new technology companies, attracted hundreds of start-up companies from all over the world that are creating new technologies in critical areas such as healthcare, water management, food solutions and parking resource management.

In addition to the event’s top prize, the IBM SmartCamp Silicon Valley award, CareCloud also competed for three awards offered by IBM’s SmartCamp cosponsors. CareCloud picked up two of these prizes, including the Ballou PR award, offered by international public relations firm Ballou, and the SDForum high technology award.

CareCloud modernizes the workflow in a medical practice by leveraging a cloud-computing infrastructure to deliver robust software solutions, backed by an optional revenue cycle management service to healthcare providers. The company’s web-based platform represents a quantum leap in usability and effectiveness over previous generations of medical practice management software at significantly reduced cost. By leveraging technology-enabled services to connect physicians, patients, insurance companies to one another, CareCloud is also eliminating the rampant inefficiency and wasteful spending that have traditionally plagued the healthcare industry.

“We feel our solution helps revolutionize the way physicians collaborate and share critical healthcare information,” said Albert Santalo, CareCloud’s President and CEO. “To be recognized by IBM, right in the heart of Silicon Valley, and to receive all the insights of the brilliant people attending, this has just been an incredible event.”

CareCloud, which offers both a standalone practice management App and an optional, fully integrated revenue cycle management service for medical practices, was well received by Silicon Valley’s top investors and venture capitalists. Representing the company on September 8th and 9th at the Palo Alto event were Albert Santalo, Chairman and CEO, and Richard Lopez del Rincon, Executive Vice President. CareCloud and the event’s other co-winner, Streetline, will head to Dublin in November for the upcoming SmartCamp World Finals to square off against other winners from around the globe for the title of “World’s Smartest Start-Up.”

The events are part of IBM’s Global Entrepreneur initiative, designed to bring new technologies to market faster, that tackle pressing issues such as energy efficiency, the environment, and healthcare. Under the program, victorious start-ups receive no-charge access to IBM’s software portfolio, the opportunity to work side-by-side with scientists and technology experts from IBM Research, and a team of dedicated project managers to assist in product development through the global network of 40 IBM Innovation Centers.

CareCloud and co-winner Streetline will now compete with fellow winners from SmartCamps around the globe for a chance at IBM’s top prize.

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