iMedX bought out Louisiana-based healthcare transcription firm MedTech Transcriptions Inc. for an undisclosed amount.
The acquisition allows the Shelton, Conn.-based healthcare software and services company to expand its customer base in the Pelican State.
In a prepared statement iMedX CEO Venkat Sharma noted that the "meaningful use" requirements set by the federal Government for EMRs caused many small transcription companies to realize that "they lack the resources to keep pace." The obsolescence of the small firms has been a boon for Sharma’s company, however, as it’s rolled up a string of its peers over the past year.
“As our fifth acquisition in the past twelve months, this acquisition is an essential part of our strategy to grow through direct sales and acquisitions as well as propagate TurboScribe software throughout our transcription customer base," Sharma said.
In June, iMedX bought PRN Medical Management LLC, a transcription service based in the Washington, D.C. area. The company picked up San Antonio, Texas-based Worldtech Inc. in August 2009 and added Medware Inc. of Orlando, Fla., in July of that year. In April 2008, iMedX acquired a trio of transcription firms: M R Transcription, L S Services Inc. and California-based Verna Transcription Inc.