Is there way to tell is one's company is being sold? SM
Posted By: Jennyanydots on 2009-01-12
In Reply to:
I know the company I work for is in financial trouble. How can figure out if a sale is in the offing? Is cutting payroll a sign?
I won't mention company name. Besides, so many have already been sold, I figure someone here may have some tips. 
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Worked for company that was sold
I worked for a US company that was sold to an Indian company. It was truly a nightmare. No one had any kind of plan as to what was going to happen, there were management changes weekly, and in the end, nearly ever US MT was laid off or fired and nearly all of the work was sent to India. Right after the company was sold, paychecks bounced, utilities in our building were shut off for nonpayment, expenses were not reimbursed, and even health insurance premiums were not paid and many people had no healthcare coverage for nearly a month.
When the lady sold her company to..sm
Execuscribe, it went downhill from there. I was hired by them, went through ALL of the testing except the Psych thing.....and then I was told I would be paid 7 cpl and I had to purchase liability insurance. CC....this Denise person must have been your "bestest" friend????
So what do all you QT'ers think: Will they/have they sold the company to them? nm
xx
They sold out to another company a couple of
years ago. Don't remember who.
DRC was just sold to a company called "Acusis".
No, I never heard of them, either.
You could not be more wrong. Besides, rumor is she sold the company today. nm
Not sure who it was to, but I heard she is somewhere signing papers. Hope not MQ. Shame that a good company is giving in to the $$$.
I think the owner of MT Daily owned a transcription company which was sold SM
to an Indian company, but I may be wrong.
It was a great company before othey sold out to Medquist years back.
Now it's crap.
Sold...
Even with their financials still up in the air? How could a company do due diligence to make such a large purchase?
What regionals offices were told? CSC's or what? Got anymore info?
Lee sold? yah...........nm
:)
sold
makes my stomach hurt
MQ being sold
I have only heard through the grapevine (pretty good vine though) that they will probably file chapter 11, be sold and restructured
I sold out...
When I graduated J-school all the jobs at newspapers paid basically minimum wage - I called a temp agency one day to see if they had any jobs (I had registered and done temp work previously for them) and they said a family practice needed someone to do medical transcription. I told him I had never done that but he said "Well obviously with your degree you know about language and grammar, so go ahead." And THAT is how I got into MT - no training or school whatsoever! This was 1993 - not sure if that happens these days. I decided I liked making more than minimum wage so I "sold out" - but I freelance. I'd say if U have freelanced U are certainly NOT a "wannabe" - congrats!!! U don't need a journalism degree for that - just talent, which U obviously must have!
MQ Being sold
Being out of debt may help them in regards to a buy out--they may be out of debt but they have huge lawyers fees being paid yearly for the 5 or 6 lawsuits,( this number is staggering and growing every day) none of which are settled I believe at this point but they are still closing offices and clearly stated in their fiancial report that they had lost money in the first half of this year and expected to continue losing money in the second half of the year and would still be closing offices and eliminating office personnel so maybe they are clearing out the fat to look more attractive for a buy out.
why does every MT have to be called and why are we all getting individual packets?? something is not right
who got sold to who
Forgive me for being slow, but I am really confused about what you guys are talking about. Did DRC get sold to this Acusis place?
Actually they have been sold to Ny-Dox but are still SM
making calls to generate business.
If one of the office people or management told you they would not sell, why would you believe it as we have already been told so many lies? They have indeed been sold, and it's been a done deal for over a month now - prior to the loss of the big account.
Heartland sold
HIS employees - watch your backs - they have sharp sticks to put into your back while smiling to your face!
That doesn't mean it was sold...
there are many reasons why the accounts/offices are going through closure/moving.
If contracts are not renewed, then not only will the account be finished but if that is a significant percentage of work for that office MQ may choose to merge that office with another for cost savings.
All I know to believe is what they have told me.
YOG sold out to MQ didn't they???
No, it was USAType and she sold it anyway
Never heard of USA Medical Trans.
FI sold to Dictaphone
Does anybody know anything about that? I was told that this has already happened -
Why were we sold in the first place?
And why weren't we given any warning that this was potentially taking place?
Sold to Nuance, will probably be big changes, that usually
gets better, if at all. I worked for Focus Infomatics and was treated like a lower class citizen. The Indian men treat the women with extreme disrespect. I was yelled foul language over the phone and another lady that I know was sexually harassed. I know one of those guys got shipped back to Bangalore, but I think the one who was the worst is actually still working in the Focus office in the States.
They sold off what they have. They might have more on hand, but I think that sm
once it's gone, it's gone.
So, no they do not provide equipment. They sold what they had for dirt cheap. Some accounts need it, some don't. If they have it, they will sell it to you very cheap, if they don't you have to find your own.
LOL I just sold one on Ebay!
If they are going for only $40 new I did really well! :)
Medware Sold?
Does anyone have the scoop on this? I was told in 2 different interviews that Medware had been sold and is now in acquisition mode. If this is true, then why don't the Flannerys be up front with the employees?
This is IF they sold. But if they did, no one forced
x
Sold and name changes. Something like Aracus or something.
//
No... she is gone and TMTS sold out
The person that was the recruiter and vice president of Tidewater was still there when they sold out to Imedx, a company with an address here in the States but definitely an Indian company. This person was abruptly let go about one year ago around January 2008. I was a long-term IC MT with Tidewater, saw my account (which I had previously handled solo for about four years) go to the new system which was basically being transcribed overseas. I edited for awhile and after helping them with getting their overseas people up to speed on the account, I was let go.
MTs being sold down the river
I find it disturbing that there may be health care administrators and even transcription company owners who are reading this nonsense and believing it. Where is the work disappearing to? We know a considerable amount to India and Korea. Why? One reason is because according to Nuance/eScription there are not enough American MTs to fill the jobs. Not only is this dishonest and unethical, but it is a slap in the face to all hardworking MTs in this country. Unfortunately, we all know this is not the only corporation guilty of this kind of irresponsible hype, but it is certainly one of the most blatant. Bless the companies that refuse to outsource abroad, but is it possible that they are losing accounts because they don't? All I know is that knowledge is power and trying to understand some of the reasons why our industry is in the condition it is in may lead to solutions.
The old Edix, before they put in the new platform, and before they were sold.
Team leaders were professional, they kept the team members informed of what was going on within the company, made sure the full time employees had enough work, and went the extra mile to provide samples for difficult dictators. It was as close to working in an office as you could get without actually being in an office. If they called you, there were no interruptions or background noise from family/animals, etc. Business was business. They were flexible. We got feedback monthly on our performance. After they changed platforms, everything changed and information was top secret so we were treated like mushrooms. I think most of the good team leaders left at that time, too.
I was happy until they sold out to Transcend. It seems to me that since sm
then, the communication has gone downhill and the managers and owners don't seem to care as much. It is more of corporate atmosphere instead of personal. If I wanted to work for a big corporation like Transcend, I would have. I chose MDI based on the fact that the owners are transcriptionists and seemed to care about the industry. I guess the money spoke louder.
Same here, nothing sold, just account is gone and no work for me sm
unless they can get more accounts to come on.
I work for them. Not sold or closed.
I have the feeling Accustat sold...
I worked for them for about 5 or 6 years and it was a wonderful small company to work for. Great dictators, and 95% English-speaking, pay never late, flexible schedule. But looking back, I remember the boss lady taking a week or two vacation in about my fifth year with them which was unusual for her and things were never the same after that. There was a drop in starting-pay to 9 cents as well as all MT's were dropped down to 9 cents. Then QA turned into a monster....inconsistent...obsessing over sentence structure and other unimportant things. Never a question about dosages or medications, etc. Just fixated on editing sentence structure and punctation. I quit. And they started requiring weekend work and strict scheduling. After I quit, I stayed away from MT for a few months and now I'm working with a company with a platform I like much better. Do not need a c-phone...just the net. I see from the other posts others have gone on to companies or situations they like well or better. So all's well that ends well I suppose. I just still often wonder what happened to the original boss of Accustat who ran such a great company and never had a problem keeping MT's. Now I see Accustat has ads running quite often. Too bad. But,from reading other posts on other companies, sounds like that may be the general trend now. Corporate!!!
Sold to Transcend? Where do you get this stuff? You must just
pull it out of thin air. I personally called the office and spoke to Management and they assured me that not only are they not for sale to Transcend, they are not for sale period.
As far as slow work goes, every service has this issue from time to time. If you would bother calling the company directly and asking, instead of just taking what you read here as the gospel, you would know that they are bringing on several new accounts throughout the summer.
Trying out the VR systems sold to clients..sm
with false promises, demanding from MTs to achieve
600 lines per hour with a pay of 3 cpl,
does this not strike you as being used as a 'guinea p*g'?
Equal to the Indian MTs?
YOG was sold to Medquist and became their Monrovia office. nm
nm
Like the rest of the good companies who sold
nm
Yeah, I feel sold out, even after all those pep talks :(
nm
Unless you have DEFINITIVE proof that MQ has sold, DO NOT post innuendos here.
All posts referencing a so called MQ sale have been removed. Posters should be above pettiness by posting rumor. FACTS speak volumes.
Administrator
Wonder if they folded or got sold. Their webpage is dated 2002! nm
s
Health Information Partners, but they sold and are no longer around :( nm
nm
August 2008 we were sold to CBAY after the announcement in May.
Check it out. As for me, I'm still here, still loving it, doing great, always get my account, making 10 cpl. I'll stay until I get fired.
When YOG sold to MQ, I felt like I was punched in the stomach. Ironically, sm
I went to MDI-MD immediately after that (I refuse to work for MQ). D made a few remarks about Carole, how she always said she would never sell and then did ...... and now I guess D heard the call of the almighty dollar as well. I can't honestly blame them. If I had worked hard all of my life and built up something and someone offered me a gazillion $$$ for it, I would figure I had earned it, sell, and enjoy the fruits of my labor. Still, I feel sorry for the MDI folks now. I am now at Keystrokes, praying that they are not the next company to be gobbled up.
It's not very good. I sold Avon for a year to supplement my MT income
and I didn't make squat. They are the worst. They shorted at least half my orders, you have to pay to ship back items that customers stiff you on. MT is better than selling Avon.
I have tons of reference books, all specialties. Going on ebay if not sold. nm
Your Office Gene, was in Monorovia, CA. Owner sold to Medquist. :( nm
You sold yourself short then. There ARE good compoanies out there with consistent work. sm
I work for one that is praised on this board and attacked on this board, depending on which way the wind is blowing.
The money and consistency are there for those who work hard.
My apologies for lumping you in with others.
CEO hasn't left yet, she's leaving in August. Co's are bought and sold all the time and I
think this is that big a deal.
They sold off their equipment a month ago in order to stop chasing it down. It was practically giv
wave pedal $50. They were spending a full time person on sending and getting back equipment. I bought mine, and thought it was better than some that make you rent them or buying my own.
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