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Microsoft expands cloud healthcare business

April 14, 2021

Microsoft expands cloud healthcare business

Microsoft Corp said on Monday it would purchase artificial intelligence and speech technology firm Nuance Communications Inc for about $16 billion, as it grows cloud answers for healthcare clients.

The deal comes after the organizations joined forces in 2019 to automate clinical managerial work like documentation. It shows Microsoft’s aspiration to broaden its initiative into an industry where advanced change has got a move on during the pandemic. Medical care suppliers have put more in technology to improve profitability and digital health services.

“This acquisition brings our technology directly into the physician and patient circle, which is fundamental to all medical services delivery. The procurement will likewise grow our authority in cross-industry endeavor AI and biometric security,” Microsoft CEO Satya Nadella said on a financial investor call.

Microsoft’s proposal of $56 per share addresses a premium of 22.86% to Nuance’s end cost on Friday. The offers acquired 16% to close at $52.85 on Monday.

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