“Microsoft on Monday announced that it will acquire Nuance Communications, a deal aimed largely at advancing cloud and artificial intelligence offerings for its healthcare customers.”
“WHY IT MATTERS
Microsoft is buying Nuance for $56 per share – an all-cash transaction totaling $19.7 billion, inclusive of Nuance’s net debt. The deal is expected to close later this year.”
“With the acquisition of Burlington, Massachusetts-based Nuance – which will double Microsoft’s total addressable market in the healthcare provider space, to nearly $500 billion – the Redmond, Washington, computing giant will continue to enhance its cloud-based decision support, AI-powered analytics and other cloud-based clinical workflow tools.”
“Mark Benjamin will remain CEO of Nuance, reporting to Scott Guthrie, executive vice president of Cloud & AI at Microsoft.”
“With healthcare-focused products such as Dragon Ambient eXperience, Dragon Medical One and PowerScribe One for radiology reporting – all built on Microsoft Azure cloud – Nuance has pioneered conversational AI and ambient clinical intelligence for providers.”
“Its technologies are deployed in more than three-quarters of U.S. hospitals and are used by more than half of physicians and 75% of radiologists nationwide.”
“Nuance also offers enterprise artificial intelligence and customer engagement technologies – voice, virtual assistants and biometric solutions – across other industries.”
“Microsoft says its technologies – in combination with Azure, Teams and Dynamics 365 – will help advance next-generation tools for healthcare and customers in other fields…” Read the full article here.
Source: Microsoft to acquire Nuance for almost $20 billion — By Mike Miliard, April 12, 2021. Healthcare IT News.
Microsoft was named to the list of NXT UP firms poised to make big waves in the Federal sector in 2020 and for years to come.
