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Continuing the trend of buying up its competition, medical transcription company iMedX Inc., of Shelton, Conn., has acquired the assets of Abacus Transcriptions Inc. of Houston.
Like the previous acquisitions that expanded iMedX’s geographical coverage, the Abacus buyout will help iMedX grow its customer base of clinics and medical practitioners in the Texas area.
The Connecticut company develops TurboScribe, its Internet-based medical document management platform, and TurboRx, its electronic prescription software.
Privately held iMedX is backed by New Canaan, Conn.-based RFE Investment Partners. It took a $950,000 funding in October from an undisclosed investor, and prior to that, it raised $2.5 million in January. The company most recently acquired National Medical Transcription LLC, of Port Washington, N.Y., in October.
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