CareCloud, Inc. (the “Company”) (Nasdaq: CCLD, CCLDO), a leading provider of practice management, healthcare technology and AI-driven solutions to medical practices across the country, today announced the acquisition of RevNu Medical Management (“RevNu”), an emerging audiology-focused revenue cycle management (“RCM”) company based in Westminster, California.
“We’ve spent years building trusted relationships within the audiology community, and we couldn’t be more excited to join forces with CareCloud,” said Clay Gililland, founder of RevNu. “That experience has given us a deep understanding of the industry’s needs—insights we’re excited to put into action as RevNu joins CareCloud. As both the founder of RevNu and the owner of more than 30 hearing health clinics across Southern California, I’m confident that our clients and the broader industry will benefit greatly from CareCloud’s technology, automation, and scale.”
“The closing of RevNu marks a significant milestone in our acquisition strategy and a strategic expansion into a specialty care market lacking a clear leader,” said Stephen Snyder, Co-CEO of CareCloud. “RevNu’s deep expertise in audiology and strong, trusted client relationships make it an exceptional addition as we accelerate growth in underserved markets. By deploying our AI-powered revenue cycle management and advanced technology infrastructure in the hearing healthcare space, we are well positioned to expand our footprint, capture new market share, and accelerate CareCloud’s overall growth.”
The U.S. audiology market is believed to include approximately 24,000 employed audiologists and hearing aid specialists, with annual spending on hearing aids exceeding $5 billion. Despite this scale, the segment remains minimally penetrated by outsourced RCM and practice management vendors. RevNu—while still relatively small—is among the leading RCM providers in this space. With the added resources and technological depth of CareCloud, the combined entity is well-positioned to accelerate growth.
“Through this combination, our clients will gain access to CareCloud’s powerful suite of tools, advanced infrastructure, and culture of innovation—all of which will improve outcomes and unlock new growth potential,” said Daniel Davis, former CEO of RevNu, who will lead CareCloud’s growth as President of its new hearing healthcare division. “I’m excited to spearhead the expansion of CareCloud’s audiology and hearing aid billing division and build on the foundation RevNu has created to capture new market share and drive growth.”
The RevNu acquisition, like the MesaBilling acquisition closed a month ago, is expected to be accretive within ninety days. Consideration will be paid quarterly, based on retained revenue.
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