Healthcare Business News

Health IT firm iMedicor acquires iPenMD

By Joe Carlson
Posted: January 25, 2013 - 2:00 pm ET

Healthcare technology and consulting firm iMedicor, Nanuet, N.Y., has acquired iPenMD in an all-stock transaction with a private equity firm, saying the company's product will help physicians translate hand-written paper files automatically into electronic health records.

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The seller, private equity firm JTJ Capital, received 9 million shares in the deal, which iMedicor CEO Fred Zolla said was equivalent to roughly $600,000. iMedicor is traded on the over-the-counter market under the ticker symbol VMCI.

Zolla said iPenMD's product is a “digital pen system” that reads a physician's handwriting and converts patient chart notes into editable text that flows into the correct fields in any EHR system that is certified for meaningful use.

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