{"id":246087,"date":"2012-07-15T15:41:27","date_gmt":"2012-07-15T15:41:27","guid":{"rendered":"http:\/\/www.eugenesis.com\/jpmorgan-chase-unit-to-acquire-m-modal-in-1-1-billion-transaction\/"},"modified":"2012-07-15T15:41:27","modified_gmt":"2012-07-15T15:41:27","slug":"jpmorgan-chase-unit-to-acquire-m-modal-in-1-1-billion-transaction","status":"publish","type":"post","link":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/pathology\/jpmorgan-chase-unit-to-acquire-m-modal-in-1-1-billion-transaction.php","title":{"rendered":"JPMorgan Chase unit to acquire M-Modal in $1.1 billion transaction"},"content":{"rendered":"

In what is by far the biggest venture capital deal in health IT this year, One Equity Parters, the equity investment branch of JPMorgan Chase, has agreed<\/a> to take M-Modal (NASDAQ:MODL) private, buying all of its shares for $1.1 billion in cash.<\/span><\/p>

M-Modal, which offers a cloud-based voice recognition program that uses natural language processing (NLP), recently announced<\/a> a new product that it said could convert doctors' dictation into discrete data in electronic health records. The \"speech-to-text<\/a> platform,\" called Fluency, is a refinement of its earlier NLP software.<\/span><\/p>

Two EHR vendors, Allscripts<\/a> and Greenway, have announced they will use M-Modal's platform to make it easier for physicians to document findings in their EHRs<\/a>. Allscripts has already integrated the application into its Sunrise acute-care EHR. Another vendor, eClinicalWorks<\/a>, told<\/a>InformationWeek<\/a> Healthcare that it is developing a new EHR feature that does the same thing, using Nuance's NLP engine.<\/span><\/p>

Another area where NLP is gaining ground is in computer-assisted coding (CAC), used in a growing number of hospitals. M-Modal recently signed a licensing agreement<\/a> with 3M Health Information Systems that allows 3M to interface M-Modal's CAC solution with the 3M Coding and Reimbursement System.<\/span><\/p>

Medquist, a medical transcription company based in Franklin, Tenn., purchased M-Modal last August for $130 million and assumed M-Modal's name. The company began trading its stock on NASDAQ<\/a> in January.<\/span><\/p>

Under terms of the agreement with One Equity Partners, that firm will make a tender offer for all shares of M-Modal no later than July 17. The M-Modal board has unanimously recommended that all shareholders accept the offer.<\/span><\/p>

In a statement<\/a>, the JPMorgan Chase subsidiary explained why it's buying the company. \"M-Modal presents a unique opportunity to acquire a market leader in clinical documentation at a time when the company has successfully released its new generation of speech understanding solutions for healthcare,\" said Dick Cashin, managing partner of One Equity Partners.<\/span><\/p>

To learn more:<\/span>
- here's the announcement<\/a> about the acquisition<\/span>
- read the InformationWeek Healthcare<\/em> article<\/a><\/span><\/p>

Related Articles:<\/strong><\/span>
ICD-10 triggers computer-assisted coding adoption<\/a><\/span>
3M, Nuance partner to create computer-assisted physician documentation<\/a><\/span><\/p>

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<\/a> <\/a> <\/a> <\/a> <\/a> <\/a> <\/a> <\/a><\/div>

Source:
http:\/\/feeds.feedburner.com\/DigitalPathologyBlog<\/a><\/p>","protected":false},"excerpt":{"rendered":"

In what is by far the biggest venture capital deal in health IT this year, One Equity Parters, the equity investment branch of JPMorgan Chase, has agreed to take M-Modal (NASDAQ:MODL) private, buying all of its shares for $1.1 billion in cash.M-Modal, which offers a … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":57,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"limit_modified_date":"","last_modified_date":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[577487],"tags":[],"class_list":["post-246087","post","type-post","status-publish","format-standard","hentry","category-pathology"],"modified_by":null,"_links":{"self":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts\/246087"}],"collection":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/comments?post=246087"}],"version-history":[{"count":0,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts\/246087\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/media?parent=246087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/categories?post=246087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/tags?post=246087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}