CareCloud Achieves Industry-Leading Security and Compliance Attestation, Uniquely Positioned to Grow Among Large Healthcare Enterprises

Rhea-AI Summary

CareCloud (Nasdaq: CCLD) has successfully completed its SOC 2 Type 2 examination for the second consecutive year, receiving a clean report with no exceptions. The examination, conducted by an independent CPA firm, covered security, availability, processing integrity, and confidentiality of Healthcare IT systems.

This achievement places CareCloud among an exclusive group representing less than 10% of all EHR vendors with such attestation. The certification validates the company's robust security infrastructure and demonstrates its capability to protect sensitive healthcare data, particularly important for larger enterprises such as health systems and hospital networks.

The attestation positions CareCloud for expanded growth into larger client bases, including health systems, multi-specialty group practices, and enterprise-level healthcare organizations that require stringent security and compliance frameworks for their operations.

Positive

• Achieved SOC 2 Type 2 certification for second consecutive year with clean report
• Positions company among top 10% of EHR vendors with this attestation
• Opens opportunities for expansion into larger enterprise healthcare clients
• Demonstrates robust security infrastructure meeting enterprise-level requirements

Negative

• None.

Insights

Security and Compliance Analyst

The successful completion of SOC 2 Type 2 examination for the second consecutive year, with a clean report and no exceptions, represents a significant competitive differentiator for CareCloud in the healthcare IT market. This attestation is particularly valuable as it encompasses critical areas including security, availability, processing integrity and confidentiality - all essential elements for enterprise healthcare organizations.

The achievement positions CareCloud among an elite group of less than 10% of EHR vendors with this certification, creating a substantial barrier to entry for competitors and opening doors to larger, more lucrative enterprise contracts. Enterprise healthcare organizations typically have stringent vendor requirements and SOC 2 Type 2 attestation is often a non-negotiable prerequisite for consideration.

From a market perspective, this certification strategically positions CareCloud to:

• Target higher-margin enterprise clients like health systems and hospital networks
• Reduce sales cycle friction in enterprise deals where compliance is a gateway requirement
• Command premium pricing for their solutions due to validated security infrastructure
• Differentiate from smaller competitors who lack enterprise-grade security certifications

The timing of this achievement aligns well with the healthcare industry's increasing focus on cybersecurity and data protection, particularly as AI-driven solutions become more prevalent. For investors, this represents a clear pathway to potential revenue growth through enterprise market expansion, while the clean report with no exceptions minimizes compliance-related risk factors.

SOC 2 Type 2 Attestation Positions CareCloud Among a Select Group of less than 10% of all EHR Vendors

SOMERSET, N.J., Feb. 06, 2025 (GLOBE NEWSWIRE) -- CareCloud, Inc. (the “Company”) (Nasdaq: CCLD, CCLDO, CCLDP), a leader in healthcare technology and AI-driven solutions, today announced that it has successfully completed a SOC 2 Type 2 examination for the second consecutive year, receiving a clean report with no exceptions. The examination scope of the Healthcare IT systems, performed by an independent CPA firm, covered security, availability, processing integrity, and confidentiality. This accomplishment underscores the Company’s commitment to the highest standards of data security, privacy, and regulatory compliance—critical for healthcare providers, especially larger enterprises such as health systems and hospital networks.

"Our ability to achieve a clean SOC 2 Type 2 report for the second consecutive year is a testament to the strength of our security infrastructure and our commitment to protecting sensitive healthcare data," said A. Hadi Chaudhry, Co-CEO of CareCloud. "As we continue to advance our AI-driven solutions and cloud-based platform, maintaining the highest level of security and compliance remains a top priority. This examination reinforces our dedication to delivering innovative technology that meets the stringent requirements of enterprise healthcare organizations."

Successfully completing the SOC 2 Type 2 examination affirms that the Company has maintained rigorous security controls and operational effectiveness across its cloud-based platform. This milestone aligns the Company for continued expansion into larger client bases, including health systems, multi-specialty group practices, and enterprise-level healthcare organizations that demand robust security and compliance frameworks.

“We’re excited to be in a select group of an estimated 10% of all EHR vendors who have achieved this important attestation,” said Stephen Snyder, Co-CEO of CareCloud. “With this attestation, we are uniquely positioned for further expansion across larger healthcare enterprises who typically require a SOC 2 Type 2 attestation. As we continue to scale our offerings to meet the needs of larger and more complex organizations, completing this examination with a clean report distinguishes us among our competitors and demonstrates our ability to support enterprise clients with confidence and reliability."

As CareCloud expands its AI-driven solutions, revenue cycle management (RCM) services, and electronic health record (EHR) offerings to larger healthcare organizations, this attestation solidifies its ability to meet the evolving security and compliance needs of health systems and enterprise clients.

About CareCloud

CareCloud brings disciplined innovation to the business of healthcare. Our suite of AI and 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.

To listen to video presentations by CareCloud’s management team, read recent press releases and view our latest investor presentation, please visit https://ir.carecloud.com.

Follow CareCloud on LinkedIn, X and Facebook.

Forward-Looking Statements

This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “forecasts,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology.

Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management's expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions.

These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.

The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

SOURCE CareCloud

Company Contact:
Norman Roth
Interim Chief Financial Officer and Corporate Controller
CareCloud, Inc.
nroth@carecloud.com

Investor Contact:
Stephen Snyder
Co-Chief Executive Officer
CareCloud, Inc.
ir@carecloud.com

FAQ

What does CareCloud's SOC 2 Type 2 attestation in 2025 mean for CCLD?

The attestation positions CareCloud (CCLD) for expansion into larger healthcare enterprises by validating its security and compliance capabilities, placing it among the top 10% of EHR vendors with this certification.

How many EHR vendors have achieved SOC 2 Type 2 attestation like CCLD?

According to the announcement, less than 10% of all EHR vendors have achieved SOC 2 Type 2 attestation, making CareCloud (CCLD) part of a select group.

What areas were covered in CareCloud's (CCLD) 2025 SOC 2 Type 2 examination?

The examination covered security, availability, processing integrity, and confidentiality of CareCloud's Healthcare IT systems.

How will the 2025 SOC 2 Type 2 certification impact CCLD's market expansion?

The certification enables CareCloud to expand into larger client bases, including health systems, multi-specialty group practices, and enterprise-level healthcare organizations that require robust security frameworks.