Publicly traded, Atlanta-based transcription services provider Transcend Services has acquired Salar, Baltimore, a provider of charge-capture and clinical documentation software and tools used by physicians in hospitals, according to a Transcend news release.
Transcription-services provider Transcend buys Salar
Transcend paid $11 million in the cash-for-stock transaction, according to the release. Salar posted $4 million in revenue and $1.2 million in operating income in 2010.
"This acquisition is key to both our growth and diversification strategies," Transcend Chairman and CEO Larry Gerdes said in the release. The acquisition is Transcend's sixth since the beginning of 2009, Gerdes noted, and will help the company expand its presence in the hospital setting.
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