iMedX acquires MedTech Transcriptions

iMedX Inc., a leading healthcare software and services company, announced today that it has acquired the assets of MedTech Transcriptions Inc. ("MedTech"), a medical transcription company serving medical clinics in Louisiana for over 15 years.  With the acquisition of MedTech, iMedX extends its customer base into Louisiana. MedTech's production and customer service teams will augment iMedX's staff to continue to provide superior services to clients across the United States. Using iMedX's revolutionary TurboScribe® platform for medical transcription, MedTech customers will enjoy the benefits of an efficient transcription workflow and ease of management. TurboScribe's integration with leading Electronic Medical Record (EMR) products will allow customers to progress towards a paperless environment, a higher quality of care and pave the way for adherence to the Obama administration's 'meaningful use' guidelines.  Additionally, MedTech's customers can take advantage of iMedX's other Internet-based products such as its TurboRecord® - iMedX's low-cost, subscription-based EMR - and their TurboRx® ePrescribing product which allows for error-free prescribing through pharmacies across the country.

Venkat Sharma, iMedX's President and CEO, along with the current iMedX management team, will continue to lead the combined companies. MedTech's founder and CEO, Bruce Bonar will work with iMedX through the transition and assist iMedX in expanding its customer base in the region.

"With the growth of Federal Government requirements for technology in healthcare, many small transcription companies are realizing they lack the resources to keep pace," stated Mr. Sharma. "Forward-thinking companies, such as iMedX, with a scalable and seamless worldwide workforce and powerful technology to automate medical documentation management, are instrumental in achieving significant improvement in the quality of care. As the Obama administration's 'meaningful use' guidelines continue to evolve, it is imperative to use the online delivery and portability of medical documentation that iMedX provides."

Mr. Sharma adds, "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 - concurrently rolling out other products to help the physician lower costs and increase revenues. iMedX intends to grow into a major force in the clinical documentation software and services industry through this strategy."