Speech recognition technology developer M*Modal said it has emerged from Chapter 11 bankruptcy in a stronger financial and market position after cutting its debt load by 55%.
The new capital structure will better support the firm's ongoing investment in new transcription and speech technology solutions, providing a stronger foundation on which to execute its strategic plans, M*Modal said. The company's reorganization plan was confirmed on July 21 by the U.S. Bankruptcy Court for the Southern District of New York.
M*Modal currently provides clinical documentation to more than 3,800 hospitals and physician groups, the company said.
