Nuance Communications Inc. has been on an acquisition spree lately, snatching up QuadraMed just a week after its acquisition of Ditech Networks. Quantim, a healthcare business attached to QuadraMed, will become a separate division of Nuance, but business for the company should continue as usual. The terms of the deal have not yet been disclosed.
Nuance’s healthcare division takes up about 2/5 of the business, so acquiring QuadraMed makes sense for them, not to mention how it revealed earlier this year that it wanted to get into the medical documentation business. Quantim provides software and services for health information management, selling mainly to healthcare organizations and hospitals, making it a prime acquisition for Nuance.
With the combined software from Nuance and Quantim, the companies hope to make recording patient information more efficient for doctors. It uses text and voice cues to assign proper codes to various conditions, which will be particularly useful as the number of ICD codes multiplies nearly tenfold in 2014.
Research and development teams from both companies have already begun to meet and work on integrating their software. The goal is to have it out soon, although there is no launch date specified.
This seems like an acquisition that will serve Nuance quite nicely, and the software the two companies hope to make together will be very useful for doctors and patients alike. Getting the right information recorded is vital, so this is important for the delicate stuff they’re dealing with and the companies intend to make a product that will alleviate difficulty and expenses.
Edited by Jamie Epstein