ScanSoft Inc. this week announced the finalization of the company's acquisition of MedRemote Inc., a provider of medical informatics and transcription workflow products. The acquisition is valued at about $6.2 million in cash.
To go along with this transaction, ScanSoft has also introduced the Dragon MT Workflow System, a complete transcription processing tool for hospitals and medical transcription service organizations (MTSOs), as well as the Dragon MT Remote, a hosted subscription-based product that is powered by the Dragon MT Workflow System and ideal for any size organization. Both products are now available and use ScanSoft's Dragon speech recognition technology to automate the conversion of recorded dictation into electronic transcripts, ScanSoft said.
MedRemote offers complete web-based transcription processing and workflow systems that operate by leveraging speech recognition and are able to integrate with existing healthcare information systems. The MedRemote product is built to reduce transcription processing costs by as much as 70 percent, the company said.
ScanSoft will integrate the MedRemote organization in Chicago, ScanSoft said.