A new company called DeliverHealth Solutions is forming to service clients of Nuance’s HIM transcription and EHR go-live businesses.
Nuance is selling the units primarily to concentrate on attaining and sustaining market leadership in the booming conversational AI space, according to an announcement.
Nuance will remain close to existing customers of these product lines, however, since it will be a minority shareholder and technology partner of DeliverHealth.
The new independent entity is formed by the joining of two companies—the private equity firm Assured Healthcare Partners and the outsourcing outfit Aeries Technology Group.
In the announcement, Nuance says the development signals its continuing interest in healthcare and enterprise markets.
Nuance CEO Mark Benjamin adds that the three-company transaction reflects the ongoing “dramatic acceleration in the digital transformation of healthcare.”
Watch for the trend to continue, Benjamin suggests, “as organizations deploy the power of conversational AI and deeply integrated cloud-based solutions at scale to address physician burnout, expand patient access, and improve system efficiencies and the revenue cycle.”
Conversational AI is the branch focused on getting chatbots and other digital interfaces to talk to humans in natural speech patterns. The market for the technology has been forecast to top $18 billion by 2027, up from less than $5 billion in 2020.
At the sale’s closing, Michael Clark, currently a senior VP and GM with Nuance, will become DeliverHealth’s CEO.