TRANSCEND SERVICES, INC. (NASDAQ: TRCR), the third largest provider of medical transcription services to the U.S. healthcare market, today announced that it has entered into a definitive agreement to acquire the assets of DeVenture Global Partners, Inc., d/b/a DeVenture Health Partners.
Founded in 2003 and headquartered in Canton, Ohio, DeVenture provides medical transcription services to approximately 30 customers across the United States. With unaudited 2007 revenue of $2.5 million, projected 2008 revenue of approximately $3.8 million and a current annualized revenue run rate of approximately $4.8 million, DeVenture has grown by consistently providing excellent service to their customers, resulting in high customer retention and success in adding new business.
