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Serving Over 20,000 US Medical Transcriptionists

Transcend Services

Posted By: Carmen Tucker on 2009-08-26
In Reply to:

Transcend Services is the best


Congrats to Transcend and MDI. We hope the transition will be smooth for everyone. If any MDI employees have any questions or need help with anything, let me know and I will do my best to help with any Transcend questions you may have. I have been with Transcend for over 7 years and lot it. I love my coworkers. We all support each other with everything. We are one big family.


 


Carmen Tucker


****


Radiology Team Lead, Transcend Services




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The $16.2 million purchase price consists of $10.2 million in cash payable at closing (less any existing indebtedness assumed and plus or minus certain working capital and tax-related adjustments), $2.0 million in cash payable after receipt of interim financial statements and audited financial statements for the last two fiscal years, a $2.0 million note payable to the selling shareholder due one year after closing, and $2.0 million of Transcend common stock (119,940 shares). The initial cash portion of the purchase price is expected to be funded using a combination of cash on hand and up to $7.0 million in bank term debt.


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I recognized that we needed a larger partner to achieve our long-term growth objectives, said MDI Chief Executive Officer Dorothy Fitzgerald. A critical concern for me was to find a partner that recognized MDI's potential and was committed to providing excellent customer service. I am convinced that Transcend is the best partner for MDI, its employees and customers.


Sue McGrogan, Transcend's President and Chief Operating Officer added, I have known Dorothy Fitzgerald for years. Like me, Dorothy is committed to outstanding customer service, which is reflected in her high customer retention rates. In her new role, Dorothy will be President of our MDI subsidiary. She will report to Leo Cooper, Executive Vice President of Sales and Marketing, in order to focus on driving future growth, particularly in the mid-Atlantic region.


http://localtechwire.com/business/local_tech_wire/news/blogpost/5878284/


 


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