Microsoft has successfully acquired Nuance Communications, Inc. for $56.00 per share, implying a 23% premium to the closing price of Nuance. Nuance is an AI and cloud healthcare-focused company that has decades of accumulated healthcare and enterprise AI experience. Microsoft has made quite a lot of efforts for industry-specific cloud applications. Microsoft Cloud for Healthcare was created in order to address the comprehensive needs of the rapidly transforming and growing healthcare industry. This acquisition marks one step forward to this aim.
Some of Nuance’s popular products include the Dragon Ambient eXperience, Dragon Medical One and PowerScribe One for radiology reporting, all leading clinical speech recognition SaaS offerings built on Microsoft Azure. Nuance’s solutions work seamlessly with core healthcare systems, including longstanding relationships with Electronic Health Records (EHRs), to alleviate the burden of clinical documentation and empower providers to deliver better patient experiences.
Nuance solutions are currently used by more than 55% of physicians and 75% of radiologists in the U.S. and used in 77% of U.S. hospitals. Nuance’s Healthcare Cloud revenue experienced 37% year-over-year growth in the Nuance’s fiscal year 2020 (ended September 2020).
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