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PEABODY, Mass. -- New Dragon(TM) MT Workflow System Leverages Speech Recognition and Web Standards to Reduce the $15 Billion Spent Each Year on Medical Transcription Processing

ScanSoft, Inc. (Nasdaq: SSFT), a global leader of speech and imaging solutions, today announced the completion of its acquisition of MedRemote, Inc., an innovator in medical informatics and transcription workflow solutions for approximately 1.54 million shares of its Common Stock, and approximately $6.2 million in cash (net of cash on hand at closing). Through this transaction, ScanSoft introduces the Dragon MT Workflow System, a complete transcription processing solution for deployment within hospitals and medical transcription service organizations (MTSOs), and Dragon MT Remote, a hosted subscription-based solution that is powered by the Dragon MT Workflow System and ideal for any size organization. Both solutions, available immediately, leverage ScanSoft's highly accurate Dragon speech recognition technology to automate the conversion of recorded dictation into electronic transcripts, significantly reducing manual transcription tasks.

MedRemote, a private company based in Chicago, is a recognized leader in providing complete Web-based transcription processing and workflow systems that efficiently leverage speech recognition and integrate with existing healthcare information systems. The MedRemote solution speeds access to patient data while reducing transcription processing costs by up to 70%, and has been proven by customers throughout North America, including Fallon Clinic and Valley Baptist Health System. ScanSoft will integrate the MedRemote organization in Chicago and expand its development, sales and marketing resources targeting the healthcare opportunity worldwide.

"MedRemote brings to ScanSoft an array of products, technologies and partners that expand ScanSoft's leadership in healthcare, a set of customers that have proven the value of the MedRemote solution, and employees that are skilled in developing and delivering speech-enabled healthcare solutions," said Paul Ricci, chairman and CEO at ScanSoft. "Combined with ScanSoft Dragon NaturallySpeaking Medical, we gain an enviable solution set that automates the way healthcare organizations capture and process their transcription data."

# posted by Medical Information : 4:35 AM