This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Transcend Announces Acquisition Of Salar

Clinical documentation solutions company TRANSCEND SERVICES INC. (NASDAQ: TRCR) today announced its acquisition of Salar Inc. (pronounced Sālar), a privately held provider of electronic clinical documentation and billing workflow solutions for healthcare providers, in an $11 million cash for stock transaction that closed July 29, 2011. It is anticipated that the acquisition will give Transcend a stronger foothold in the hospital setting and provide its customers added functionality and flexibility.

Founded in 1999 and headquartered in Baltimore, Salar’s solutions are used by leading academic and community hospitals. The company generated $4 million of revenue and $1.2 million of operating income in 2010 and is growing.

“This acquisition is key to both our growth and diversification strategies,” said Larry Gerdes, Transcend chairman and CEO. “From a growth perspective, the purchase is in line with our strategy of complementing our organic growth by completing selected strategic acquisitions, of which Salar is the sixth since the beginning of 2009. Salar, however, allows us to diversify because it’s the first of these companies to offer software products. Our purchase of Salar’s flexible and physician-centric products combined with the recent availability of our Encore medical transcription platform offered to hospitals under the Software as a Service (SaaS) model, will allow us further entry into the hospital setting.”

“As a leading provider of transcription services, we have been asked by many of our customer partners for assistance with the adoption of meaningful use of clinical data,” stated Susan McGrogan, president & COO of Transcend. “Partnering with our customers has always been vital to providing the highest level of service, and by incorporating Salar’s innovative technology; we will be better positioned to respond to our customers’ needs.”

Salar product solutions – which include Team Notes,™ TeamRelay,™ TeamQuery™ and TAP Charge Capture™ – provide a highly customizable and physician-friendly interface that integrates easily with existing electronic medical record systems, allowing physicians and hospitals to achieve notable productivity, financial and patient safety improvements. Hospitals can enhance their investment in existing Healthcare Information Systems (HIS) by overlaying Salar’s products to achieve high levels of physician adoption and return on investment utilizing a Meaningful Use Stage 1 certified product.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,102.38 -272.38 -1.66%
S&P 500 1,921.22 -29.91 -1.53%
NASDAQ 4,683.9190 -49.5780 -1.05%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs