Healthcare voice and languages provider Nuance (Burlington, Mass.) has announced it will acquired Transcend Services (Atlanta, Ga.), a provider of transcription and clinical documentation services. The move, Nuance says, will accelerate access to and expand its customer base within the small- to mid-size hospital market.
Nuance plans to use Transcend’s transcription and editing service and combine it with its voice-enabled and clinical language understanding technologies and deep electronic health record (EHR) integration. According to Janet Dillione, executive vice president and general manager of Nuance’s Healthcare business, Transcend will help the company “drive change and improvement
The price of the acquisition is approximately $300 million. Nuance has agreed to acquire Transcend through a cash tender offer of $29.50 per Transcend share, representing an approximately 30 percent premium over Transcend’s 90-day volume weighted average share price.
Members of Trascend’s management team will have positions at Nuance including Susan McGrogan, Transcend’s president and chief operating officer, and Lance Cornell, Transcend’s chief financial officer.