According to an article in the Pittsburgh Tribune-Review, UPMC will be outsourcing its medical transcription services at the end of June. The move will result in the layoffs of about 100 medical transcription workers.
The medical transcriptionists are expected to be rehired by Nuance Communications, Inc.
Burlington, Massachusetts based Nuance Communications, Inc. will add approximately $200 million to acquisition war chest as a portion of a $350 million bond offering. Although the Senior Note is unsecured, it is fully and unconditionally guaranteed on a Nuance’s domestic subsidiaries. Nuance plans to repurchase the notes from holders upon a change of controls at 101% of the principal amount as well as any accrued and unpaid interest, nearly $354.2 million dollars with which they will use to repay debts and acquisitions. See the full story Nuance Announces Proposed $350 Million Offering of 5.375% Senior Notes due 2020.