Strategic acquisition for leading US electronic medical transcription services provider
International law firm, Bird & Bird, recently advised US electronic medical service supplier, MedQuist Inc, as to English law on the acquisition of the share capital of Speech Machines Limited. The deal has been valued at approx $10 million.
Speech Machines, an application service provider (ASP) of dictation recording, routing, editing and workflow management for the medical transcription industry will operate as an independent enterprise under the MedQuist organization. As the largest supplier of electronic medical transcription services to the healthcare industry in the US, MedQuist will be able to boost its business through the acquisition of shares in Speech Machines Limited by utilizing Speech Machines technology and by licensing the technology to third parties. MedQuist is a majority owned subsidiary of Koninklijke Philips Electronics N.V. of the Netherlands.
Roger Butterworth was the corporate partner for Bird & Bird. Pepper & Hamilton LLP advised MedQuist as to US law. Speech Machines Limited was advised by Brobeck Hale and Dorr.
For more information, please contact Roger Butterworth on +44 (0) 20 7415 6000.