It was just a couple weeks ago that M*Modal announced their new software suite to work with medical records companies to incorporate unstructured data into medical records. This has been an issue with reading the text and appropriately containing in an EHR.
M*Modal with their speech recognition seems to be about the only competitor with Nuance as far as I have seen. Their product works in the cloud with recognizing key words and other relative bits of information in patient narrative unstructured data. it will be interesting to hear some feedback on how this works as well. BD
M*Modal Launches New M*Modal Catalyst Suite For Working With Unstructured & Structured Medical Data in the Cloud
FRANKLIN, Tenn. & NEW YORK, Jul 02, 2012 (BUSINESS WIRE) -- M*Modal (mmodal inc. -- nasdaq/gs:MODL), a leading provider of clinical documentation services and Speech Understanding(TM) solutions, and One Equity Partners today announced that they have entered into a definitive agreement pursuant to which One Equity Partners, the private investment arm of JP Morgan Chase & Co., will acquire all of the outstanding shares of M*Modal for $14.00 per share in an all-cash transaction. The transaction is valued at approximately $1.1 billion.
Investment funds affiliated with S.A.C. Private Capital Group LLC (S.A.C. PCG), collectively M*Modal's largest shareholder owning approximately 31% of M*Modal's outstanding shares in the aggregate, have agreed to tender their shares into the offer and to support the transaction. S.A.C. PCG is a private equity firm managed by the founders of Siris Capital Group, LLC.