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Transcend Announces Completion of Acquisition of Medical Dictation Services, Inc.; New Credit Facility with Regions Bank.

Publication: Business Wire
Publication Date: 01-SEP-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
ATLANTA -- TRANSCEND SERVICES, INC. (NASDAQ: TRCR), the third largest provider of medical transcription services to the U.S. healthcare market, announced today that it has completed the acquisition of Medical Dictation Services, Inc. ("MDI") as of August 31, 2009 and entered into a new credit facility with Regions Bank.

Founded in 1981, and headquartered in Gaithersburg, Maryland, MDI is a leading medical transcription company with approximately 450 employees providing service to approximately 30 customers located predominantly in the mid-Atlantic region of the United States. For the fiscal year ended March 31, 2009, MDI had unaudited revenue of $13.7 million, and currently has an annualized revenue run rate of $14.3 million. The acquisition increases Transcend's...

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