Federal antitrust regulators have cleared Nuance Communications Inc.'s $363 million purchase of medical transcription company eScription Inc., a government agency said Thursday.
As part of the deal, which was announced last month, private equity firm Warburg Pincus agreed to invest about $100 million in Nuance, a speech recognition software developer based in Burlington, Mass.
Nuance said last month it hopes to streamline clinical documentation with the acquisition and expects to save the health care industry more than $1 billion by 2011.
The company also said the purchase will reduce profit by 8 cents to 9 cents per share in fiscal 2008 and between 15 and 16 cents per share in fiscal 2009.
The Federal Trade Commission included the deal on a list of transactions that received an "early termination" of their antitrust reviews. Early termination refers to the completion of a review by the FTC or Justice Department before the end of a 30-day period required under antitrust law.
Shares of Nuance rose 13 cents to finish at $19.87, then gained 3 cents in aftermarket electronic trading.
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