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

M*Modal to be acquired by One Equity for $1.1 bln - MClark

Posted: Jul 02, 2012

Read all about it...#$%# is going hit the fan now!

http://finance.yahoo.com/news/m-modal-acquired-approximately-1-011200480.html

Ruh Ro - NM

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xx

What does this mean to us? - Lee

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Are we going to be sold to a different company??

M*MODAL to be... - BlueBabe

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"Well paint me blue and call me Babe!"

Aren't/weren't we owned by CBay? - MT

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I thought MModal was owned by CBay from India. I read the article and there was no mention of CBay or global operations? Anybody know what this means? Are we going to be owned by an American company? Part of JPMorgan Chase? Who knows with this crazy outfit, bought and sold more times than I can remember.

I am wondering about that also..are we American owned or Indian owned? - suzyq

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All this mentioned of stocks and no mention of CBAY in the email at all. I wonder if this means anything at all to us. "If anything this only raises the stakes of what is expected of us."

is this why we have not heard anything yet about the comp package?NM - suzyq

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x

also..when you google cbay systems...sm - suzyq

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it takes you to the mmodal page where it says cbay is now mmodal. I only found an older cbay website where mmodal or medquist is not even listed. the latest news is something like 2006 on their website. while I know they are still with us I just really wonder who is in control now. Also private investment group means stocks cannot be publicly traded. I cannot remember if this was mentioned in the email. so much legality in that email. we need someone to interpret it for us.

It's so hard to keep up with buyouts and mergers, but I believe... - sm

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We were at one point almost totally India-owned by CBAY Systems, then the company went public, and apparently now we are going back to being a private company under the JPM umbrella.

Are our heads spinning yet? oh, yeah. What this ultimately means for employees, who knows.

The statements that got my attention: - anon

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I think these are the 2 key statements:

Our focus is and will continue to be on serving customers through our clinical documentation services and **Speech Understandingâ�¢ solutions that unlock value from the unstructured clinical narrative.** (Currently we MTs unlock the value from the unstructured narrative.)

M*Modal also offers voice to text solutions to capture the complete patient story, codifies the doctorâ��s narrative to automatically populate EHRs and other key healthcare information systems . . . and provides highly advanced analytical tools for exploring the richness within the unstructured narrative for improvements in quality of care, greater physician satisfaction and lower operational costs. (Doc's narrative to automatically populate EHR?! *Analytical tools* re unstructured narrative--will not be MTs!)

Wow wonder what this will mean to MTs, if anything.... - (see message)

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This is very surprising news, and it's ironic that for some MTs who've worked for more than one smaller company that had been acquired by M*Modal in the past, the one consolation they had was that at least they no longer had to worry about being acquired again. I never dreamed that M*MODAL would actually be acquired by someone else!

Hoping that this doesn't mean any more drastic or negative changes for those currently working for M*Modal. Change can bring growth, but I'm badly in need of a little stability for a while!

Oops, I meant to say: - (SM)

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Rather than: "....some MTs who've worked for more than one smaller company that had been acquired by M*Modal in the past....," I meant MTs who've worked for more than one smaller company that was acquired by OTHER companies and then eventually ended up at M*Modal, their one consolation seemed to be no more acquisition worries.

Hmmmm--now what, I wonder?!

HOLY CRAP - anon

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I'm speechless ...

Looks like we have mail from Vern ... - anon

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Check your company email ... he just sent one to us explaining what's going on. Sort of.

ARE WE GOING TO BE REBRANDED AGAIN? - One Equity MModal MQ Spheris ...

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Should be "Millions in Equity" if they wannt put it out there.

The Q&A that was emailed says no. - NM

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NM

Rounded up, corralled, and re-branded. OUCH. - MTs are just their "cash cows". nm

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Moo.

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