Nuance Closes Acquisition of Transcend
April 27 2012 - 8:00AM
Business Wire
Nuance Communications, Inc. (NASDAQ: NUAN) today announced that
the company has closed the acquisition of Transcend Services, Inc.
(NASDAQ: TRCR), a leading provider of medical transcription and
speech editing services.
The combination of Nuance and Transcend will significantly
improve the way patient data is captured, processed and used across
the small- to mid-size hospital market, which comprises
approximately 90 percent of hospitals in the U.S. Nuance will build
upon Transcend’s market leadership among this group of hospitals,
expanding its customer base through the delivery of voice-enabled
and Clinical Language Understanding-powered (CLU) solutions that
help healthcare organizations of all sizes achieve Meaningful Use
and accelerate the transition to ICD-10.
The combined company’s offering will aid healthcare
organizations’ chief financial officers to lower costs associated
with the administration and management of traditional clinical
documentation and medical transcription processes, allowing them to
prioritize core business activities, financial goals and patient
care initiatives.
The company will provide guidance on the financial impact of the
acquisition in conjunction with its second quarter 2012 earnings
release on May 10th.
Transcend Services, Inc.
Transcend Services, Inc. (NASDAQ: TRCR) provides premium quality
transcription and clinical documentation services to the healthcare
industry. Its services encompass a wide range of solutions -
people, products and processes - designed to turn medical dictation
into meaningful electronic documents. Transcend provides its
clients with exceptional quality, turnaround time and service so
that they can focus on what matters most – their patients. For more
information, visit www.transcendservices.com.
Nuance Healthcare
Nuance Healthcare, a division of Nuance Communications, is the
market leader in providing clinical understanding solutions that
accurately capture and transform the patient story into meaningful,
actionable information. Thousands of hospitals, providers and
payers worldwide trust Nuance voice-enabled clinical documentation
and analytics solutions to facilitate smarter, more efficient
decisions across the healthcare enterprise. These solutions are
proven to increase clinician satisfaction and HIT adoption,
supporting organizations to achieve Meaningful Use of EHR systems
and transform to the accountable care model. Recognized as
“Best-in-KLAS” 2004-2011 for Speech Recognition we invite you to
learn more, http://www.nuance.com/for-healthcare/index.htm.
Nuance Communications, Inc.
Nuance Communications, Inc. (NASDAQ: NUAN) is a leading provider
of voice and language solutions for businesses and consumers around
the world. Its technologies, applications and services make the
user experience more compelling by transforming the way people
interact with devices and systems. Every day, millions of users and
thousands of businesses experience Nuance’s proven applications.
For more information, please visit www.nuance.com.
Safe Harbor and Forward-Looking Statements
This document contains forward-looking statements within the
meaning of the federal securities laws. Any statements that are not
statements of historical fact (including statements containing the
words “believes,” “plans,” “anticipates,” “expects,” or “estimates”
or similar expressions) should be considered to be forward-looking
statements, including, but not limited to, statements regarding the
anticipated benefits of the Transcend acquisition, the combined
company’s product offerings and the expansion of Transcend’s
customer base. Such forward-looking statements are based on current
expectations and involve inherent risks and uncertainties, and
actual outcomes and results could differ materially from current
expectations. There are a number of important factors that could
cause actual results or events to differ materially from those
indicated by such forward-looking statements, including: the
ability of Nuance to successfully integrate operations and
employees of the acquired business; the ability to realize
anticipated synergies from the acquired business; and the other
factors described in Nuance’s annual report on Form 10-K for the
fiscal year ended September 30, 2011 and quarterly report on Form
10-Q for the quarter ended December 31, 2011 filed with the
Securities and Exchange Commission. Nuance disclaims any obligation
to update any forward-looking statements as a result of
developments occurring after the date of this document.
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