Home Companies News Nuance Acquires Transcend
Nuance Acquires Transcend
Companies - News
Written by Amanda Green   
Wednesday, 28 March 2012

 

Nuance, the provider of OCR and voice recognition solutions, is acquiring Transcend, a company, specializing in transcription and clinical documentation services for the healthcare industry.

Nuance will expand its customer base within the small- to mid-size hospital market, currently about 90 percent of hospitals in the U.S. Nuance’s voice recognition and Clinical Language Understanding technologies and electronic health record (EHR) integration, in conjunction with Transcend’s transcription and editing services, will allow hospitals to increase productivity and reduce costs of clinical documentation and workflows.

“The acquisition of Transcend will expand the delivery of our innovative voice and Clinical Language Understanding solutions especially to small- and mid-size hospitals,” said Janet Dillione, executive vice president and general manager of Nuance’s Healthcare business. “With Transcend, we will drive change and improvement to the way these hospitals capture and leverage clinical information. The acquisition is a natural extension of Nuance’s existing healthcare business, and will strengthen our solution and services portfolio, as well as enhance our profitability.”

Nuance will acquire Transcend through a cash tender offer of $29.50 per Transcend share, an approximately 30 percent premium over Transcend’s 90-day volume weighted average share price. The acquisition is valued at $300 million and is expected to close in the second half of Nuance’s fiscal 2012.

Transcend’s management team will help strengthen Nuance’s position in the healthcare industry, including key people like Transcend’s president and chief operating officer, Susan McGrogan, and Transcend’s CFO, Lance Cornell.

 

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