A community of 30,000 US Transcriptionist serving Medical Transcription Industry

Does anyone else think a new batch of mergers is in the works? - Something is up.

Posted: Sep 03, 2010

Which ones do you think are out there right now? Let's guess :) - CuriousMT

[ In Reply To ..]
Is there anyone out there big enough to take on other companies or are we down to MQ and Transcend?

No one is safe - Mergers and acquisitions

Mergers and acquisitions have been happening on a regular basis for years. Unfortunately, it is the medium-size companies who are doing most of the acquiring of smaller companies, with too few employees to cause a ruckus. Only problem is, a lot of those medium-size companies already have ties with India and before we realize it, that medium-sized company will have gobbled up enough small companies to have turned into a conglomerate the likes of MedQuist and Transcend.

Case in point:

SHELTON, Conn., Aug. 10, 2010 /PRNewswire/ -- iMedX Inc., a leading healthcare software and services company, announced today that it has acquired the assets of MedTech Transcriptions Inc. ("MedTech"), a medical transcription company serving medical clinics in Louisiana for over 15 years.

Medical transcription firm iMedX Inc., of Shelton, Conn., has announced its acquisition of Louisiana-based MedTech Transcriptions Inc. The buyout is the fifth acquisition iMedX has completed in 12 months.

What is it – 6 degrees of separation? Remember that company you hated 10 years ago, and quit on the stop without giving notice vowing to never speak their name again. Well guess what, the company you now work for has just been bought out by them and, yes, you are now going to be an employee of that company you hated so much. Think your old supervisor is still there??? LOL

I shudder to think what the future may bring.

Help us all.

That actually happened to me twice now. - Sick of it

[ In Reply To ..]
After 2 years of low pay, no raise, and virtually no PTO, I left MQ about 12 years ago and went to L&H (Lernout & Hauspie). I was only there a few years before they were bought out by MQ. So I left and went with Transcend. For obvious reasons, I didn't last there long and went to a couple different companies before settling with MDI...then lo and behold. I was forced back with Transcend.

It seems like a carousel ride from hell going in circles so much it's nauseating.

We"re dammed if we quit, and dammed if we don"t. - Rocky R. - n/m

[ In Reply To ..]

Mergers? Anti-trust laws? - NJA most of the time

[ In Reply To ..]
Calling an anti-trust lawyer on Monday. Have read up a little tiny bit, seems like there might a problem with what's going on, but I'm not a lawyer. Feel free to check with one in your state.

That's really not a bad idea. - sm

[ In Reply To ..]
I've wondered the same thing myself. But it seems like such a gray area. Look at WalMart. The little town we live in was almost wiped out because of WalMart, as just about every single Mom and Pop is out of business. But nothing is done about it.

From what I've read, I saw this: Competition law, or antitrust law, has three main elements:

1. Prohibiting agreements or practices that restrict free trading and competition between business. This includes in particular the repression of free trade caused by cartels.
2. Banning abusive behavior by a firm dominating a market, or anti-competitive practices that tend to lead to such a dominant position. Practices controlled in this way may include predatory pricing, tying, price gouging, refusal to deal, and many others.
3. Supervising the mergers and acquisitions of large corporations, including some joint ventures. Transactions that are considered to threaten the competitive process can be prohibited altogether, or approved subject to "remedies" such as an obligation to divest part of the merged business or to offer licenses or access to facilities to enable other businesses to continue competing.

These large companies are virtually blocking out smaller companies, not only with their India-equivalent line rates they offer clients, but also with the almost-ridiculous-to-achieve TATs they promise. The ONLY way to achieve these is to overhire. It's getting so bad that even the 3 largest ones are eating themselves up, not to mention any independent MTs or smaller MTSOs that aren't extinct yet.

I honestly doubt anything would ever come of it, but it sure would be interesting to watch.

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