medical billing transcription supplier information

Transcend Services, Inc. (NASDAQ:TRCR), a health information management company, today announced that it has completed a merger with Express Medical Transcription, Inc. ("EMT"), a transcription service company.

The transaction was treated as a tax-free exchange of stock under the pooling method of accounting. The Company issued 230,000 shares of Transcend common stock in the transaction and entered into non-compete agreements with EMT shareholders. EMT generates current annual revenue of approximately $1.5 million.

Continuing its merger and acquisition growth strategy of the last three years, Transcend Services has now acquired six (6) transcription companies since 1993 and its transcription division now operates out of Salt Lake City; Fullerton, Calif.; Atlanta; Chicago; Pittsburgh and Erie, Pa.; Boston, Worcester and Stoughton, Mass. This division now employs over 300 full-time medical transcriptionists with a combined customer base of more than 140 hospitals.

Larry Gerdes, chief executive officer for Transcend Services, Inc., stated:

"We believe our new association with Pam and Steve Barkell and all of the valued employees and customers of EMT is a great opportunity for both companies. Pam and Steve's commitment to quality service has earned EMT an outstanding reputation in the Salt Lake City market and we are excited about the opportunity to continue their rapid growth in transcription as well as expand our core HIM contract management business in the western region of the United States."

Pam and Steve Barkell, owners of EMT, stated:

"EMT's top priority has always been high standards for quality transcription and a commitment to provide exceptional service to our clients. The merger with Transcend is consistent with this approach. Transcend's exceptional managerial resources and long-term dedication to the health information arena will greatly enhance our capacity for continued growth and client satisfaction. We enthusiastically look forward to our new association with Transcend."

Transcend, headquartered in Atlanta, is a hospital services company focused on the outsourcing of Health Information Management (HIM) and related functions, such as Patient Access (Admitting), for health care providers and has signed multi-year outsourcing contracts with hospitals and health care systems nationwide.