Monday, August 07, 2006
Applied Voice Recognition, Inc. Acquires Medical Transcription Company in Denver, Colorado
Internet-based Medical Transcription Company Continues Acquisition Program
Applied Voice Recognition, Inc. (OTCBB: AVRI) announced today that the company has acquired its fourth medical transcription company, based in Denver, Colorado.
The acquired operation has contracts with Columbia, Vencor and physician practice groups located in Colorado.
Linda Willhite, owner of the acquired company stated, "AVRI's VoiceCOMMANDER(R)99 was the key to our decision to sell to AVRI. It's use of secure Internet lines and voice recognition to lower long distance costs and transcription labor costs is a key competitive advantage. We're excited to be part of the AVRI team."
AVRI Chairman & CEO, Timothy Connolly stated, "Following the company's earlier 1998 acquisitions in Dallas, New York, and Miami, AVRI finished the year with its fourth major market acquisition in Denver, Colorado. Following the investment by Lernout & Hauspie Investment Company, AVRI intends to continue to complete acquisitions that are accretive to the Company." AVRI's plan to acquire medical transcription companies in sixteen major markets was launched in March, 1998. The company now has offices located in five of the targeted market areas, and customers in thirteen states throughout the U.S.A.
AVRI plans to implement a common technology platform in all acquisitions based on the company's proprietary transcription product, VoiceCOMMANDER 99. VoiceCOMMANDER 99 is the state of the art technology in medical transcription, utilizing voice recognition, secure Internet communication, and traditional transcription methods to improve the quality and reduce the costs of health care information systems.
Subject to the availability of capital, AVRI intends to continue its aggressive acquisition program in 1999. AVRI believes that utilization of the VoiceCOMMANDER 99 system will increase the profit margins of the companies acquired in its acquisition program and deliver acceptable returns on equity for its shareholders.
Subscribe to Posts [Atom]
