Fonix exits healthcare after L&H acquisition

June 1, 1999

Fonix exits healthcare after L&H acquisition Consolidation continues in the speech recognition market. In the latest corporate move, Fonix has signed a definitive agreement to sell its Healthcare Solutions Group to Lernout & Hauspie Speech

Fonix exits healthcare after L&H acquisition

Consolidation continues in the speech recognition market. In the latest corporate move, Fonix has signed a definitive agreement to sell its Healthcare Solutions Group to Lernout & Hauspie Speech Products of Burlington, MA. Fonix's Healthcare Solutions Group was formed in 1998 when Fonix acquired Articulate Systems and the PowerScribe business unit of the MRC Group (PNN 10/98). Burlington, MA-based L&H will pay $28 million for the group, which is headquartered in Woburn, MA. The May 19 deal is subject to regulatory and Fonix shareholder approvals, and is expected to be completed by the third quarter.