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Microsoft Corp. will pay $19.7 billion to acquire Nuance Communications Inc., a company that uses artificial intelligence to help physicians create medical notes faster.
The hefty price tag of the transaction, which Microsoft announced today, indicates the massive market presence Nuance maintains in the healthcare sector. The company’s AI software is deployed at more than three quarters of U.S. hospitals. Its user base includes over 55% of U.S. physicians and about 75% of radiologists.
The deal’s price tag also reflects the sizable revenue opportunities Microsoft expects to unlock through its investment. By the technology giant’s estimates, buying Nuance will more than double its total addressable market in the healthcare provider segment to nearly $500 billion.
Microsoft to Acquire Nuance for $19 6 Billion in Health-Care Bet msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.