Transcend Services bought MDI for $16.2 million.

I didnt realize it was that much!  No wonder they feel no loyalty to their old MT's!  ,,,everybody has a price I guess.

The $16.2 million purchase price consists of $10.2 million in cash payable at closing (less any existing indebtedness assumed and plus or minus certain working capital and tax-related adjustments), $2.0 million in cash payable after receipt of interim financial statements and audited financial statements for the last two fiscal years, a $2.0 million note payable to the selling shareholder due one year after closing, and $2.0 million of Transcend common stock (119,940 shares). The initial cash portion of the purchase price is expected to be funded using a combination of cash on hand and up to $7.0 million in bank term debt.

Larry Gerdes, Chief Executive Officer of Transcend, said, MDI's strong presence in the mid-Atlantic region significantly expands Transcend's national footprint. We are confident that MDI's culture of excellence and total commitment to customers and employees will help ensure the success of this transaction. We look forward to working together to integrate our operations over the next several months.

I recognized that we needed a larger partner to achieve our long-term growth objectives, said MDI Chief Executive Officer Dorothy Fitzgerald. A critical concern for me was to find a partner that recognized MDI's potential and was committed to providing excellent customer service. I am convinced that Transcend is the best partner for MDI, its employees and customers.

Sue McGrogan, Transcend's President and Chief Operating Officer added, I have known Dorothy Fitzgerald for years. Like me, Dorothy is committed to outstanding customer service, which is reflected in her high customer retention rates. In her new role, Dorothy will be President of our MDI subsidiary. She will report to Leo Cooper, Executive Vice President of Sales and Marketing, in order to focus on driving future growth, particularly in the mid-Atlantic region.

http://localtechwire.com/business/local_tech_wire/news/blogpost/5878284/

• Transcend Services bought MDI for $16.2 million. - LOWLY MT
  • Do you MDIers remember when they asked us ..sm - Hmmmm
  • I wonder how these people can sleep at night - me
    • Did you? - ChiquitaBanana
      • Chiquita - me
        • I totally understand - ChiquitaBanana

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Transcend Services is the best

Congrats to Transcend and MDI. We hope the transition will be smooth for everyone. If any MDI employees have any questions or need help with anything, let me know and I will do my best to help with any Transcend questions you may have. I have been with Transcend for over 7 years and lot it. I love my coworkers. We all support each other with everything. We are one big family.

Carmen Tucker

****

Radiology Team Lead, Transcend Services

How is the work at Transcend Services?  is there a steady workload?  Are the managers helpful and the platform good to work on?  Was thinking about applying.

Thank you.

Positives and negatives?

Has it been confirmed by the company on this board that they are offshoring work?

I am still not sure if I should go with them or not. 

Got job offers from both.  Pay and benefits look to be about the same.  Anyone work(ed) for either or have worked for both?  Good, bad, or any other comments regarding either company? 

How is the family health plan with each?  Cost? Coverage? 

Thanks.

You're a dear.  :)

I thought I had simple questions but after all those posts, you'd think not!  LOL!

I really appreciate your taking the time to answer my questions - so thankful!  Have a lovely weekend :)

That's a lot of money.  $70 million with an estimated cash payout option of $37 million which means after taxes you bring home approx. $19 mil or so.  Yeah, that's a lot of money. 

I keep trying.  Someone has to win it.  It may as well be me!!!   

I really do appreciate everything you have told me.  There are so many people on this board so quick to judge and then every now and again you come across a genuine, quality person such as yourself. 

I know my schedule is difficult to work with, but these companies never seem to give anyone a chance to explain them, not that it would really matter.  They expect 1200 lines a day for full-time, but I have always done that in part-time hours (5 to 6). 

To me, that is all that should matter.  They want 1200, I will give them that, but I cannot be put on a schedule for 8 hours a day, 6 days a week. 

I have only had 2 transcription jobs in 13 years, the most current one with the Q for over 11.  I have always done well on testing, from what I am told my last test I took for a company was 99%. 

I just don't understand how all of you girls can comit to working every Saturday or every Sunday. 

Ok, I am done complaining.  I am hitting the job search full force again.  Thanks so much again for your kind words and thoughts.  You are in my prayers.

PS... I am probably way older than your daughter, I am going to be 39 in May.  :)