JPMorgan PE Arm Bids $1.1B For Medical Transcription Co.

Law360, New York (July 3, 2012, 4:16 PM EDT) -- In the wake of last week's landmark U.S. Supreme Court health care ruling, JPMorgan Chase & Co.'s private investment arm is going after medical transcription technology outfit M*Modal Inc. in a deal valued at $1.1 billion, the parties announced Monday.

JPMorgan's One Equity partners will pay $14 per share in cash for the Tennessee-based M*Modal, which specializes in speech-recognition technology that has applications in small private practices, clinics and large hospital systems, according to a joint statement M*Modal issued Monday.

The offer represents an 8.3 percent...
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