The number of speech recognition companies not owned by Nuance continues to get smaller. There are still a few out there but most of the major players seem to have been scooped up over the last couple of years.
In addition in the news today someone became very rich, the CEO with sale of a lot of stock and he still owns over a couple million shares worth around $50 million. Meanwhile the company debt is around $900 million. I’m not an expert on what all that means, but the investor readers here can figure it out. Below are a couple of other recent Nuance acquisitions. I have covered most so if you want to see more just do a quick search using the Google custom search here. BD
(NUAN)Nuance Communications Inc. continues its latest acquisition spree, this time buying Atlanta company Webmedx Inc. for an undisclosed amount. Webmedx provides transcription and editing services and clinical documentation technology for hospitals and clinics.
According to a press release, Webmedx will strengthen Nuance Transcription Services by integrating Webmedx’s Quality Analytics application, based on natural language processing, with Nuance’s clinical language understanding systems.
Webmedx counts among its customers more than 100 hospitals including Bon Secours, and Catholic Healthcare West, according to officials. In addition to the transcription and documentation tech, Burlington-based Nuance (Nasdaq: NUAN) gets from Webmedx its Medical Technology Education Center (MTEC), an online speech recognition editing and medical transcription school.