• Nuance’s AI Marketplace Delivers AI at Scale with Industry’s First Workflow-Integrated Market for Diagnostic Imaging Algorithms

    Collaborative community of developers, publishers, data scientists, and radiologists can seamlessly create, distribute, and utilize continuously learning algorithms for 25,000 radiologists across 5,500 connected healthcare facilities

    Chicago, IL – November 26, 2018 – At the Radiological Society of North America’s (RSNA) 104th Scientific Assembly and Annual Meeting, Nuance Communications, Inc. (NASDAQ: NUAN) today announced that, in less than one year since its introduction, the Artificial Intelligence (AI) Marketplace for Diagnostic Imaging (“AI Marketplace”), the first workflow-integrated marketplace, has mobilized a collaborative community of developers, researchers and technology leaders to build, test, validate and share algorithms for radiology. The AI Marketplace now has more than 40 developers such as NVIDIA, Aidoc, Zebra Med, Aidence, Densitas, Massachusetts General Hospital (MGH), Brigham and Women’s Hospital (BWH), and their Center for Clinical Data Science (CCDS). Nuance also is working with standards bodies, such as the American College of Radiology (ACR), to establish and apply application program interface (API) connectivity standards for the consumption of AI within radiology workflow, as well as electronic health records (EHRs), picture archiving and communication systems (PACS) and registries.

    The AI Marketplace functions as a diagnostic imaging app store, giving developers immediate access to 70 percent of all radiologists across 5,500 healthcare facilities via the existing connected Nuance network. Unlike other imaging AI platforms, marketplaces, and exchanges, Nuance’s comprehensive AI Marketplace offers unmatched speed to market, unparalleled access to users at scale, continuous algorithm training for developers across the broadest set of distributed data sources, and automated access to required registries. For subscribers, the AI Marketplace offers one-stop-shopping in the largest storefront of AI imaging algorithms integrated directly into the radiology reporting workflow, with a collaborative feedback channel to ensure superior results based on a wide array of real-world use.

    “Augmenting radiologists’ expertise with AI is not futuristic, foreboding, or frightening. It’s happening now and offers immediate and ongoing benefits. Just as the Apple iOS App Store changed how we used and viewed smartphones, the AI Marketplace can deliver a similar transformation to the quality of care,” said Karen Holzberger, vice president and general manager, Healthcare Diagnostics, Nuance. “With our deep understanding of radiologists’ needs and workflows and the scale of our existing solutions, we are uniquely positioned to help them lead the transformation of healthcare by leveraging the capabilities of AI. Now, with the ability to easily purchase and utilize AI algorithms directly within the solutions they use every day, radiologists can work smarter and more efficiently, focusing their time and expertise on more sophisticated activities and urgent cases, ultimately improving patient care, and saving more lives.”

    The AI Marketplace benefits developers and subscribers in unparalleled ways:

    Developer benefits:
    • Speed to market: Significantly improve speed and reduce cost to bring imaging AI applications to market by easily publishing to the AI Marketplace and eliminating the sales, marketing, and legal costs normally required to reach the radiology community, in one easy step.
    • Market at scale: Gain immediate visibility and access to an audience of 70 percent of all radiologists across 5,500 healthcare systems.
    • Continuous learning: Constantly train and improve AI algorithms at scale to the specificity and variation of a wide array of client settings with automated access to real-world performance results and data across the broadest user base.
    • Automated connection to registries: Leverage existing connectivity to the ACR to apply standards and help with automated reporting and post-market surveillance requirements.

    Subscriber benefits:
    • One-stop shopping: Gain instant access to the largest storefront of AI algorithms in medical imaging that allows subscribers to search for algorithms by modality, body part, types of disease, and more vs. having to track vendors on multiple websites. Avoid the cost and complexity of installing multiple AI developer environments, signing multiple BAAs, and other time-consuming tasks.
    • Efficient workflow integration: Automatically leverage the outputs of Al algorithms to drive superior workflow routing and efficiency, and seamlessly integrate AI generated findings into existing PowerScribe reporting templates to further augment radiologist productivity, quality, and decision support. No extra steps, screens, or mouse clicks – and all within the same systems relied on every day.
    • Continuous feedback and training: Gain trust in the specificity and sensitivity of algorithm results through broad-scale use and automatic sharing of performance across health systems with ‘try-before-buy’ testing ability.

    Examples of the AI Marketplace in action include:
    • Aidoc, Nuance, and the University of Rochester are collaborating on a potentially life-saving worklist prioritization application. The FDA-cleared application analyzes CT exams indicating a suspected intracranial hemorrhage, then prioritizes them on the PowerScribe Workflow Orchestration worklist for a radiologist’s immediate attention in cases when time-to-treatment is critical.
    • Aidence, eUnity, Nuance, and the University of Pennsylvania are collaborating on the development of an application to assist radiologists in the time-consuming task of detecting and characterizing pulmonary nodules for reporting and follow-up comparisons. The Aidence Veye Chest algorithm can detect, measure, and characterize lung nodules in CT exams. It also can compare lung nodules in follow-up exams to assess changes. The accuracy of Aidence’s automated nodule diameter and volume measurement, growth rate, and composition have been validated in a clinical study at NHS Lothian and the University of Edinburgh. Aidence’s Veye Chest application has received a CE mark but is not yet cleared by the FDA for clinical use.
    • Zebra Med’s Coronary Calcium Scoring application checks for calcium buildup in the coronary arteries. Calcium in these arteries may be a sign of heart disease. Zebra has developed several algorithms that are designed to help institutions uncover incidental findings across a patient population that have meaning and potential impact on risk stratification. The Coronary Calcium Scoring application is intended for value-based institutions that hold preventative methodologies as a priority.
    • Densitas’ FDA-cleared densitasdensity™ application automatically assesses breast density, an important predictor of breast cancer risk, while radiologists focus their time and attention on finding breast cancer. The densitasdensity algorithm can analyze images to provide consistent and reproducible breast density grades that align with the ACR’s 4th or 5th edition breast density scales. The application is intended for use with compatible full-field digital mammography systems.

    AI Marketplace: A collaborative community, development environment, and market

    Nuance is working with the ACR to establish and apply API connectivity standards for the consumption of AI within radiology workflow, as well as EHRs, PACS, and registries.

    The AI Marketplace also combines the power of NVIDIA’s deep learning platform with Nuance’s PowerScribe radiology reporting and PowerShare image exchange network. This combination creates a unique end-to-end methodology that enables widespread development and rapid deployment of imaging AI models into the AI Marketplace, which is then integrated into thousands of radiologists’ downstream workflow, helping them quickly detect key clinical findings and improve patient care.

    “The NVIDIA Clara computing platform powers scalable inferencing of applications to the Nuance AI Marketplace. NVIDIA’s AI computing platform is available everywhere, which gives the AI Marketplace maximum flexibility, allowing health systems to keep their data securely on premise, or to take advantage of AI computing in the cloud,” added Holzberger.

    “Medical imaging is essential for delivering the best healthcare,” said Abdul Hamid Halabi, Healthcare Lead at NVIDIA. “By working closely with Nuance, we are connecting the world’s AI developers to scalable and seamless deployment of AI applications for radiology and creating the industry-wide synergy required to realize the potential for AI to transform the diagnosis, detection, and treatment of disease.”

    Interested developers, publishers, data scientists, radiologists, and other members of the healthcare community can click here to get started or learn more about the AI Marketplace.

    The Nuance AI Marketplace at RSNA18
    Nuance will demonstrate the AI Marketplace at booth #2700 in South Hall A at McCormick Place, November 25 – 30 in Chicago, IL. NVIDIA’s Clara universal computing platform, integrated within the AI Marketplace, also will be on display.

    RSNA18 attendees can receive detailed information about the AI Marketplace directly from the industry’s top AI radiology experts. For example, Warren B. Gefter, MD, Professor of Radiology at the Hospital of the University of Pennsylvania, will present the session, “Using AI within existing radiology workflows”, in the Machine Learning Showcase (ML16) in the North Hall, Monday, November 26, at 2:00pm.

    About Nuance Healthcare
    Nuance provides intelligent systems that support a more natural and insightful approach to clinical documentation, freeing clinicians to spend more time caring for patients. Nuance healthcare solutions capture, improve and communicate more than 300 million patient stories each year, helping more than 500,000 clinicians in 10,000 global healthcare organizations to drive meaningful clinical and financial outcomes. Nuance’s award-winning clinical speech recognition, medical transcription, CDI, coding, quality and medical imaging solutions provide a more complete and accurate view of patient care.

    About Nuance Communications, Inc.
    Nuance Communications, Inc. (NASDAQ: NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. The company delivers solutions that can understand, analyze and respond to human language to increase productivity and amplify human intelligence. With decades of domain and artificial intelligence expertise, Nuance works with thousands of organizations – in global industries that include healthcare, telecommunications, automotive, financial services, and retail – to create stronger relationships and better experiences for their customers and workforce. For more information, please visit www.nuance.com.

    Trademark reference: Nuance and the Nuance logo are registered trademarks or trademarks of Nuance Communications, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners.

    Media Contact Information
    Palmer Reuther
    Corporate Communications
    Nuance Healthcare
    M: 978-697-9227
    [email protected]

    Posted 11.29.2018

  • Diabetes Management Toolkit Added to MEDITECH Expanse Ambulatory

    Developed by clinicians, the Diabetes Management Toolkit helps physicians, nurses, and other staff to deliver care that aligns with ADA guidelines and meets CMS quality reporting payment models

    Westwood, MA – November 29, 2018 – According to the CDC, diabetes — the seventh leading cause of death — affects more than 30 million people in the US. MEDITECH’s new Diabetes Management Toolkit meets the demand for more individualized care. Embedded in Expanse Ambulatory, the toolkit supports a comprehensive, longitudinal approach for adults with type 1 and type 2 diabetes.

    Developed by clinicians, the toolkit helps physicians, nurses, and other staff to deliver care that aligns with ADA guidelines and meets CMS quality reporting payment models. Optimal workflows, system guidance, and evidence-based standard content — including clinical decision support interventions — will support your organization’s initiatives to better manage diabetes care.

    Customers, please visit Expanse Diabetes Management: Getting Started for implementation guidance and an educational video.

    Link: https://ehr.meditech.com/news/diabetes-management-toolkit-added-to-meditech-expanse-ambulatory-1

    Contacts
    Paul Berthiaume
    Senior Manager, Marketing Communications
    MEDITECH
    781-774-5742
    [email protected]

    Liz Carroll
    Manager, Public Relations and Media Relations
    MEDITECH
    781-774-3297
    [email protected]

    Twitter-@MEDITECH

    Facebook-@MEDITECHEHR

    Linkedin–https://www.linkedin.com/company/meditech/

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Posted 11.29.2018

  • Clearwater and CyberMDX Announce Partnership to Address Healthcare Industry’s Weakest Link in ePHI Security Chain: Connected Medical Devices and IoT Equipment

    Innovative Approach Establishes Blueprint for Medical Device Security Programs to Help Protect Patients from Cybersecurity Threats and Vulnerabilities

    Nashville, TN – November 28, 2018 – Clearwater and CyberMDX have entered into a partnership to simplify and automate the identification, inventorying, assessment and risk analysis of networked medical devices, using Clearwater’s IRM|ProTM—an Enterprise Cyber Risk Management Software—and CyberMDX’s MDefend—a visibility and cybersecurity solution, powered by an AI and DPI engine, coupled with Clearwater’s professional services.

    “One of the weakest links within clinical networks is also their most critical asset: their connected medical devices”

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    The CyberMDX-Clearwater joint delivery model—being demonstrated this week at the H-ISAC Fall Summit in San Antonio, TX, Booth 46—creates the most comprehensive and robust enterprise cyber risk management solution available on the market at a time when growing internal and external security threats have made it increasingly difficult for healthcare organizations to protect their sensitive information, including patients’ personal health information (CHIME HealthCare’s Most Wired: National Trends 2018).

    “One of the weakest links within clinical networks is also their most critical asset: their connected medical devices,” said CyberMDX Co-Founder and CEO Amir Magner. “Healthcare providers rely on connected medical devices for their clinical workflows and life-saving treatments, but unlike other IT assets, connected medical devices are extremely vulnerable and often poorly managed. Organizations struggle to do a true, enterprise, OCR-quality risk analysis—one that is an information assets-based risk analysis and that evaluates allePHI assets and the specific threats and vulnerabilities that are applicable to them.”

    Clearwater CEO Steve Cagle said connected medical devices and other IoT integrated devices or equipment are not just a technology risk but a patient safety risk and a risk to business.

    “The truth is, if you don’t know where your devices are, you can’t secure them, and until recently there weren’t good or efficient ways of getting that information,” Cagle said. “Until now, it’s also been difficult to categorize the different groups of like devices to make the risk analysis process more manageable. It’s a tremendous challenge for the industry, and we are pleased to partner with CyberMDX to deliver a best-in-class solution.”

    With the CyberMDX-Clearwater joint delivery model, healthcare provider organizations can do in a few hours what has historically taken weeks or months to accomplish. CyberMDX’s unique technology identifies in real-time medical device profile information, which is used by Clearwater to identify like devices from a risk perspective. As a recent deployment for a large Integrated Delivery Network provider showed, the solution was able to condense about 30,000 connected medical devices into about 300 groups by putting them into appropriate classifications and groupings, allowing for a much more manageable risk analysis and ongoing identification, assessment, detection and automatic micro-segmentation of all medical and clinical assets.

    Tailored to meet the demanding and unique cybersecurity and HIPAA compliance needs of clinical networks and protocols, CyberMDX’s solution provides an automatic and continuous discovery and profiling solution that is easily deployed, fully scalable and built for large distributed networks.

    Clearwater’s IRM|Analysis™ software utilizes the resulting inventory and Clearwater’s proprietary algorithms to facilitate an OCR-Quality Security Risk Analysis on the medical devices, as well as to implement and document remediation actions. The result is a complete risk analysis and risk response solution that complies with HIPAA requirements and can be used to satisfy information request from the Office For Civil Rights (OCR).

    “From everything we are seeing with our customers, medical devices are one of their weakest links in the security chain and their greatest concern,” Clearwater’s Cagle said. “In a recent webinar provided by Clearwater and CyberMDX fewer than 18% of attendees stated that they had a comprehensive medical device security program in place.

    A compromise of medical devices can have devastating effects for a healthcare provider, including:

    • the shut down of hospital operations or key functions of a facility
    • risking patients’ lives by compromising the integrity of data
    • a back door into the network, resulting in significant data breach of ePHI
    • the control of devices in critical departments or patient care, e.g. neonatal units and infusion pumps

    About CyberMDX
    CyberMDX, a pioneer of medical cyber security, delivers zero touch visibility and threat prevention for medical devices and clinical assets. CyberMDX delivers a scalable, easy to deploy cyber security solution, providing unmatched visibility and protection of medical devices ensuring their operational continuity as well as patient and data safety. For more information, please visit us at www.cybermdx.com.

    About Clearwater
    Clearwater provides the most complete and trusted, enterprise-class cyber risk management solution available. Designed for healthcare providers and their partners, Clearwater’s IRM|Pro™ platform and experienced professional services team provide insights and actions to address compliance, cyber and patient safety risks. Clearwater is a 2017 Inc. 5000 fastest-growing company, the 2018 Best in KLAS winner in Cybersecurity Advisory Services, the 2017 and 2018 Black Book Marketing Research winner in Compliance and Risk Management Solutions, and exclusively endorsed by the American Hospital Association as well as numerous state hospital associations. Clearwater solutions have been deployed within hundreds of hospitals and health systems, Fortune 100 organizations, and federal government institutions. More information about Clearwater is at clearwatercompliance.com.

    Contacts

    Kriste Goad | [email protected] | (615) 440-9049

     

    Posted 11.28.2018

  • Hart Secures Growth Capital In Latest Private Equity Funding Round To Help Build The Future Of Healthcare

    Solving for healthcares next big challenge of creating data liquidity through Healthcare as a Service

    Costa Mesa, CA –  November 27, 2018 – Hart, the leader of the movement that views Healthcare as a Service (HaaS), has secured Private Equity funding in its latest round to position it for market expansion. The round was led by Palisades Growth Capital as well as existing investors. The funding represents a clear milestone for the company to position it for market expansion as adoption for the company’s platform increases.

    Hart’s Healthcare as a Service (HaaS) is powered by the company’s powerful bidirectional data platform which keeps Hart’s clients relevant and effective in today’s patient-driven landscape. Capable of extracting and intelligently acting on health data from disparate sources, Hart makes it possible to rapidly access and unify information among hospitals, providers, clinics and payors.

    “Healthcare is a rapid area of growth for companies that understand its nuances and we have worked hard with our customers to position them for the next generation of healthcare interoperability, which moves beyond basic exchange of information to truly solve for data gaps.” said Rick Hopfer Co-CEO of Hart. “Today, systems exchange data and manage care gaps but that is not the purpose of the next generation of interoperability, instead it needs to focus on high-fidelity data and fluid near realtime accessibility. What exists today is not enough to support the upcoming changes health care has on the horizon, and that is precisely what Hart helps its clients achieve; helping them build the future of healthcare,” added Mohamed Alkady, Co-CEO.

    Hart’s new financing will be used to accelerate sales and marketing efforts with a specific focus on channel partners and direct-to-market strategy as well as increase engineering efforts on product, machine-learning and automation to support the increased rate of adoption.

    “Data interoperability is common practice in most technology sectors but remains one of the largest challenges in Healthcare IT. Given the Industry’s move to Value Based Care and accelerating pace of consolidation, Hart’s technology platform addresses the massive data management requirements to connect a myriad of siloed data sources and disparate systems.” Said Jeff Anderson, Partner at Palisades Growth Capital. “With Hart’s technology and its Healthcare as a Service Platform, it’s helping clients truly start building the future of healthcare, today.”

    About Hart

    Since its founding in 2012, Hart has focused on pioneering the movement known as Healthcare as a Service. By focusing on building the underlying platform: Hart enables systems, providers, payers, developers and patients to build the future of healthcare. Harts platform creates data liquidity which helps physicians, systems, and patients gain access to better understand critical health information. Hart believes that making this information more readily available will improve the ways in which those inside and outside of the industry access and engage with their health, and health related data thus building the future of healthcare.

    About Palisades Growth Capital

    Palisades Growth Capital (“Palisades”) is a Los Angeles-based growth equity firm making investments in technology businesses primarily in Southern California. Palisades focuses on a variety of sectors including Software, Mobile, and Technology Enabled Businesses. More information on Palisades Growth Capital can be found at http://www.palisadesgrowth.com.

    Media Contact:

    Media Relations 
    Press(at)hart(dot)com

    Posted 11.27.2018

  • Nuance Opens European DRIVE Lab in Germany to Amplify Innovation for Mobility Assistants

    Nuance and the German Research Center for Artificial Intelligence (DFKI) will work as a joint hub for research and design advancements for next-generation mobility user experiences

    Burlington MA – November 27, 2018 – Nuance Communications, Inc. today announced the opening of its first European mobility user experience (UX) lab, the Design, Research, Innovation and Vehicle Experience (DRIVE) Lab, located in Saarbrücken, Germany at DFKI, one of the world’s largest AI research centers. The DRIVE Lab will study and drive innovation round mobility user experience, including the intersection of conversational artificial intelligence with non-verbal modalities such as gaze detection, emotional AI and augmented reality, with the goal of further humanizing the interaction between people and the digital ecosystem.

    In addition to Nuance’s DRIVE Labs in North America and China, the Germany-based DRIVE Lab will work closely with Nuance’s global automotive research and development team, and the joint testing facility with DFKI in Saarbrücken will further expand the two companies’ long-time research cooperation on next-generation mobility assistants. The research conducted at the DRIVE Lab will ultimately provide drivers and passengers with safer, smarter, and more immersive mobility experiences while supporting car manufacturers with AI powered solutions to create their own branded digital assistant and ecosystem.

    Key areas of the new DRIVE Lab’s research will include:

    • Humanized interactions in and outside the car– Test driver and passenger impressions on technologies driving more human-like experiences, including emotion recognition, which enables the mobility assistant to understand complex cognitive and emotional states from face and voice recognition and adapt behavior accordingly.
      • Unique experiences and technologies – Explore how new ideas for user experiences, including augmented reality, gesture- and gaze-based technologies, emotion AI and technologies like cognitive arbitration, siren detection, multi-seat interaction and autonomous features, improve the user experience.
      • Needs and preferences – Build an enhanced understanding of which experiences users truly want in the car and how those experiences might extend outside of the vehicle. Explore how safety, privacy, functionality, and regulatory requirements affect the use of technologies.
      • Consult car makers and suppliers – Conduct usability reviews of existing deployments as well as new concepts and prototypes and advise on user experience best practices, taking advantage of the Lab’s proximity to the headquarters of some of the world’s largest car makers.

    “We are very happy to welcome the Nuance DRIVE Lab at our AI research center. Nuance and DFKI have partnered for many years, and this hub will further foster our research partnership. The new auto testing facilities at DFKI will not only test new technologies, but further develop the conversational interface that enables a safer, smarter driving experience – even while keeping consumers connected to the world outside,” said Prof. Dr. Wolfgang Wahlster, CEO of DFKI.

    “As the digital car is becoming an integral element of our day-to-day lives and smart virtual assistants are becoming ever more prevalent, it’s important that we put a strategic focus on UX research to provide a truly immersive mobility assistant that users can trust.” said Nils Lenke, senior director of Innovation Management, Nuance Automotive. “Over the past year, our US-based DRIVE Lab conducted more 15 in-lab studies, and surveyed thousands of users online, delivering invaluable learnings about how drivers want to interact with their increasingly connected and autonomous cars. Our first DRIVE Lab site in Europe will be an additional center for research and testing around new concepts and prototypes for the next generation of automotive user experiences for our customers.”

    About Nuance Dragon Drive 
    With the Dragon Drive platform, Nuance offers a deeply integrated, hybrid solution that can be customized to become a smart automotive assistant that is seamlessly integrated into the user’s connected ecosystem. Today, Dragon Drive ships globally in more than 200 million cars across more than 40 languages, creating conversational experiences for Audi, BMW, Daimler, Fiat, Ford, GM, Hyundai, SAIC, Toyota, and more. To learn more about the ways in which Dragon Drive is amplifying the intelligence of the connected car, visit Dragon Drive on nuance.com and stay connected on LinkedIn.

    About Nuance Communications, Inc.
    Nuance Communications is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. The company delivers solutions that can understand, analyze and respond to human language to increase productivity and amplify human intelligence. With decades of domain and artificial intelligence expertise, Nuance works with thousands of organizations – in global industries that include healthcare, telecommunications, automotive, financial services, and retail – to create stronger relationships and better experiences for their customers and workforce. For more information, please visit www.nuance.com

    Trademark reference: Nuance and the Nuance logo are registered trademarks or trademarks of Nuance Communications, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners.

    Contact Information

    For US Press
    Kate Hickman
    Nuance Communications, Inc. 
    Tel : + 1 781-565-4627
    Email: [email protected]

    For EMEA Press
    Vanessa Richter
    Nuance Communications, Inc.
    Tel: + 32-475 76 96 07
    Email: [email protected]  

    Posted 11.27.2018

  • Nuance Introduces New PowerScribe One Radiology Reporting Platform Powered by AI and the Cloud

    Delivers AI-powered workflow efficiency and accuracy to improve disease detection, diagnosis, follow-up and treatment

    Chicago, IL – November 25, 2018 – At the Radiological Society of North America’s (RSNA) 104th Scientific Assembly and Annual Meeting, Nuance Communications, Inc. (NASDAQ: NUAN) today introduced PowerScribe One, the next generation of the industry’s most widely used radiology reporting platform. Harnessing Nuance’s advanced natural language understanding capabilities and cloud technology, the PowerScribe One platform integrates access to artificial intelligence-powered (AI) diagnostic and decision-support tools to measurably improve workflow efficiency and accuracy.

    “We are committed to transforming the practice of diagnostic imaging with products, such as PowerScribe One, that help radiologists amplify their expertise and demonstrate their value through their primary work product – the diagnostic report,” said Karen Holzberger, vice president and general manager, Healthcare Diagnostics, Nuance. “The new PowerScribe One is a game-changer – harmonizing applications on the radiologists’ desktop; automatically populating reports with structured data; and making AI useful and usable within their workflow. Most of all, PowerScribe One markedly improves efficiency and accuracy, giving radiologists more time to focus on what matters most – the care teams and patients they serve.”

    Purpose-built to address inefficiencies, inconsistent recommendations and failed follow-up, PowerScribe One benefits from the latest advances in AI such as natural language understanding, image characterization, speech recognition, intelligent exchange of structured data and cloud technology, enabling radiologists to:

    • Extract structured data continuously while dictating;
      • Apply structured data to aid in creation of accurate, clinically appropriate and consistent diagnostic reports;
      • Share clinically relevant structured data between systems—including EHRs, PACS and others—enabling care teams to improve follow-up, monitoring and outcomes;
      • Populate reports dynamically with content from integrated systems to minimize redundancy and reduce errors;
      • Integrate AI image characterization directly into the reporting workflow to achieve unparalleled levels of efficiency and accuracy via Nuance’s AI Marketplace;
      • Make standardized reporting initiatives easier to launch, administer, promote and adopt; and
      • Harness the cloud to easily access and use evolving technology and innovation.

    “PowerScribe One transforms my dictations on-the-fly into relevant, structured findings so that it’s not just my words, but their meaning in the context of my patient’s clinical situation. Then, by incorporating the data into the decision support workflow, I can become both more effective and more efficient,” said Tarik Alkasab, MD, PhD service chief for IT/Informatics and operations at Massachusetts General Hospital. “PowerScribe One is more than a voice-enabled text report creation tool, it’s becoming an integration platform that empowers radiologists to capture, share, and take action on important patient information more quickly and easily.”

    PowerScribe One leverages a cloud-powered, continuously learning, and context-aware language understanding platform to convert unstructured speech-to-text input into structured data. PowerScribe One also integrates access to AI algorithms within the radiologist’s normal workflow, giving radiologists powerful solutions to improve efficiency and throughput, increase diagnostic accuracy and specificity, and ensure consistent, evidence-based follow-up recommendations. The integration of structured narrative data, workflow-embedded AI, clinical guidance, assisted diagnosis, quality-checking, and report automation tools elevates the accuracy, completeness, and value of radiology reporting.

    PowerScribe One also enables enhanced sharing of concrete and actionable information with care teams and across the care pathway. It puts essential follow-up, timeframe, and other information that was previously stranded within unstructured narrative report text directly into the hands of clinical users. Converting unstructured text to structured data opens a path to expanded interoperability and powers a new generation of data-driven applications. It also complements standardization work on Common Data Elements by the ACR, ASNR, RSNA, and other governing bodies to improve information exchange and advance radiologic practice, research, and performance measurement.

    “Imaging AI cannot be deployed in a silo – integrating the outputs of AI into the radiologist’s existing clinical workflow enables it to effectively augment the capabilities of the radiologist, while preserving as well as enhancing efficiency and quality,” said Warren B. Gefter, MD, professor of radiology at the Hospital of the University of Pennsylvania. “AI in radiology is rapidly evolving; the challenge is to make it usable and useful.”

    Nuance will demonstrate the effectiveness of PowerScribe One at the 2018 RSNA Scientific Assembly and Annual Meeting at booth #2700 in South Hall A at McCormick Place, November 25 – 30, in Chicago, IL. For more information about PowerScribe One, click here.

    About Nuance Healthcare
    Nuance provides intelligent systems that support a more natural and insightful approach to clinical documentation, freeing clinicians to spend more time caring for patients. Nuance healthcare solutions capture, improve and communicate more than 300 million patient stories each year, helping more than 500,000 clinicians in 10,000 global healthcare organizations to drive meaningful clinical and financial outcomes. Nuance’s award-winning clinical speech recognition, medical transcription, CDI, coding, quality and medical imaging solutions provide a more complete and accurate view of patient care.

    About Nuance Communications, Inc.
    Nuance Communications, Inc. (NASDAQ: NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. The company delivers solutions that can understand, analyze and respond to human language to increase productivity and amplify human intelligence. With decades of domain and artificial intelligence expertise, Nuance works with thousands of organizations – in global industries that include healthcare, telecommunications, automotive, financial services, and retail – to create stronger relationships and better experiences for their customers and workforce. For more information, please visit www.nuance.com.

    Trademark reference: Nuance and the Nuance logo are registered trademarks or trademarks of Nuance Communications, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners.

    Media Contact Information
    Palmer Reuther
    Corporate Communications
    Nuance Healthcare
    M: 978-697-9227
    [email protected]

    Posted 11.25.2018

  • Combining Highly Accurate, Cloud-based Speech Recognition into CLICKVIEW Digital Radiology Informatics Reporting will Create Faster, Easier and More Accurate Documentation.

    Painesville, OH – November 20, 2018 – Dolbey and Company Inc. (Dolbey) Best in KLAS for Speech Recognition 2012-2016 and Category Leader – Front-end Speech Recognition for Imaging 2018 announced today that they have partnered with CLICKVIEW the leading provider of Digital Radiology Informatics reporting  with Dolbey’s cloud-based speech recognition solution, Fusion Narrate™ powered by nVoq™.

    This partnership provides CLICKVIEW the ability to offer integrated speech recognition in their innovative radiology reporting products.  The combination of speech recognition, AI technology and powerful navigation tools provided by the Fusion Narrate application bring radiology reporting efficiencies to a whole new level.  

    “We are excited to partner with CLICKVIEW, which offers the most robust Digital Radiology Informatics reporting in the industry,” said Bob Leslie, senior vice president and general manager for Dolbey. “This partnership will give physicians the tools for clearer, faster communication to referring physicians along with their patients”. 

    “The CLICKVIEW Team welcomes Dolbey in an exciting, game-changing partnership providing the most intuitive, innovative reporting products in the industry,” said David A. Martinez, MD, MPP, CEO and Founder of CLICKVIEW. Integration of Dolbey’s cloud-based Fusion Narrate speech recognition solution with CLICKVIEW’s broad portfolio of established Web-based reporting products improves the quality of patient care while also greatly improving the accuracy, efficiency and ease reporting for the radiologist.

    About Dolbey

    Dolbey and Company’s award-winning healthcare solutions deliver superior documentation, boosting productivity and improving patient care. Since 1914, Dolbey has advanced the latest technologies to meet the evolving demands of the healthcare community, including Speech Recognition, CAPD, CDI, CAC, Transcription and Dictation. For more information, please visit www.dolbey.com. 

    About CLICKVIEW

    CLICKVIEW Corporation is the leading provider of Digital Radiology Informatics Reporting Products. CLICKVIEW modules include Obstetrics, Gynecology and Vascular reporting. The modules for surveillance of Chronic Lesions include Thyroid Nodule Surveillance, Bone Density, Aortic Aneurysms, Single Pulmonary Nodules and RANO (Response Assessment Neuro Oncology). CLICKVIEW Corporation is based in San Francisco, CA and has developed, sold and supported Radiology reporting products for 30 years. 

     

    Posted 11.20.2018

  • Novarad Debuts Mammography Software Optimized for Multi-Modality Radiologists

    Medical imaging solution company launches NovaMG-Pro at RSNA 2018

    Salt Lake City, UT – November 20, 2018 – Novarad Corporation, a leader in the development of medical imaging software, announced new mammography software, NovaMG-Pro, specifically for multi-modality radiologists that read mammography as well as non-mammography studies. By using the same workstation, a compatible PACS user interface and optimizing human performance engineering – radiologists become more efficient. 

    With mammography, time is a critical commodity. Reader fatigue, reduced efficiency and delays in diagnosing breast disease and other abnormalities visible on medical images can slow workflow between breast and non-breast studies, minimize radiologist productivity and delay patient notifications. The result can be less efficient radiologists and imaging centers, and a weaker bottom line at hospitals, imaging centers, women’s health clinics and other health facilities

    “When we’re reading, sometimes we want to see previous reports, and if you want to do that in a different software you have to go over to the PACS and pull up the case, and open it there and go back and forth, which slows me down,” said Dr. Lisa Watanabe, CMO of CureMetrix and Associate Professor in Clinical Radiology at the University of Southern California (USC) School of Medicine. “Being able to have everything integrated with NovaMG-Pro is really advantageous. It definitely makes me more efficient.”

    NovaMG-Pro offers one-click workflow and is fully integrated with dictation/voice recognition, eliminating the need for transcription. It tracks and reports all breast-related procedures, including mammography, MRI and ultrasound. Ultimately, NovaMG-Pro streamlines workflow to significantly reduce process time, accelerate productivity and increase efficiency. The result is reduced costs, higher throughput and maximized revenue.

    Those interested in learning more about the NovaMG-Pro solution may visit the company at RSNA, booth 7913, visit www.novarad.net or follow the company on Twitter, @NovaradCorp. Those interested in mammography may also visit CureMetrix at booth 7961. RSNA will take place November 25 through 30.

    # # #

    For over 20 years, Novarad has enabled healthcare providers to solve their imaging problems through its full diagnostic suite. Today, Novarad’s specialized enterprise imaging and workflow solutions continue to improve upon industry standards and empower healthcare providers everywhere to solve problems. Through customizable workflow and imaging solutions, Novarad encompasses medical imaging needs. Visit Novarad at www.novarad.net for more information.

    Media Contact:

    Kristi Alvarado, Media Relations Contact at Novarad | 801.642.1001 | [email protected]

     

    Posted 11.20.2018

  • SUPPORT AEHIS AND CHIME MEMBERS ON THE HEALTHCARE SECTOR COORDINATING COUNCIL

    Why this Matters

    AEHIS and CHIME have been instrumental in reforming the healthcare sector as a critical infrastructure ensuring more coordination, resources and attention is being devoted to a secure our healthcare system. This is a multi-stakeholder effort known as the Cybersecurity Working Group (CWG) which is housed under the Healthcare and Public Health Sector Coordinating Council (HSCC). Our members, including those on the ballot, have led efforts around developing a set of best practices for providers to manage cybersecurity threats, driving public policy that helps protect our sector, shores up a stronger workforce, promoting better medical device security, and many others.

    Vote for Joint Cyber Working Group Executive Committee

    Members of the HSCC are being called upon to vote to elect an Executive Committee of 9 representatives of the CSWG. Members can access the complete list of candidates here. Existing JCWG members should have already received an official poll link to cast your vote, but we wanted to highlight the AEHIS and CHIME members on the ballot.

    Direct Patient Care

    • Erik Decker, University of Chicago Medicine, 2018 AEHIS Board Chair
    • Theresa Meadows, Cook Children’s Health Care System, CHIME Board of Trustees Member

    Plans and Payers

    • Sean Murphy, Premera Blue Cross, 2018 AEHIS Vice Chair

    Public Health

    • Sri Bharadwaj, UCI Health, 2018 Fall Summit Planning Committee Chair

    Still Not Member of the SCC? Join Now!

    Please consider joining the SCC to become a participant of the CSWG. Simply go here to sign up and begin lending your voice to these important cybersecurity discussion.

    Posted 11.19.2018

  • Nuance Announces Plan to Spin Off Its Automotive Segment to Shareholders as a Separate Public Company

    Burlington, MA – November 19, 2018 – Nuance Communications, Inc. (NASDAQ: NUAN) today announced its intention to spin off its Automotive business segment into a new, independent, publicly traded company (“Nuance Auto”). The standalone entity will be a pure-play, next-generation automotive software company.  Immediately following the transaction, which is expected to be completed before the end of fiscal 2019, Nuance shareholders will own shares of both companies.  The transaction is intended to be tax-free to Nuance shareholders.

    The automotive industry is evolving rapidly as new technologies transform the passenger experience through shared mobility, connectivity and enhanced driver assistance.  Nuance is the market leader in voice recognition and cognitive assistants for car infotainment and communication systems and delivers critical enabling technology to help realize the future of mobility.  Becoming an independent, publicly traded company represents an important step in Nuance Auto’s growth and the continued development of its conversational AI platform.

    “We are incredibly proud of the Auto business we’ve built, and at the same time we recognize the growing excitement around automotive technology,” said Mark Benjamin, CEO of Nuance.  “We are excited to launch this business for long-term success by separating it into an independent, focused company.  At the same time, the separation will help us become more focused on our core growth opportunities in Healthcare and Enterprise.”

    Nuance specializes in conversational AI technologies that help automotive manufacturers deliver connected and personalized experiences for drivers and passengers. Nuance Auto’s deeply integrated, customizable solutions power smart automotive assistants that are seamlessly integrated into the in-vehicle connected ecosystem.  The business creates conversational experiences for virtually every automotive manufacturer, including Audi, BMW, Daimler, Fiat, Ford, GM, Hyundai, SAIC and Toyota, as well as virtually every major tier-one automotive supplier. Nuance Auto products ship in more than 50 million new cars each year and can be found today in more than 200 million cars, with voice commands recognized in more than 40 languages. In fiscal year 2018, which ended September 30, 2018, the business generated $279 million in revenue, with 7% organic growth and 39% segment margin.

    Nuance intends to appoint an independent management team and nominate members to a separate board of directors for Nuance Auto before the transaction is completed.  Nuance expects the business will be headquartered in Boston and maintain a significant presence in Montreal and Aachen, Germany, among other global locations. 

    The spin-off is subject to numerous conditions, including, without limitation, final approval of the Nuance board of directors; the effectiveness of a Registration Statement on Form 10; and, the approved listing of Nuance Auto’s common stock on a national securities exchange selected by Nuance. Pursuant to the spin-off, Nuance plans to distribute shares of Nuance Auto common stock as a tax-free dividend to holders of Nuance common stock as of a record date to be determined by the board of directors of Nuance.  The spin-off will not require a vote of Nuance shareholders.  

    This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of any securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

    Goldman Sachs & Co. LLC and Evercore are acting as financial advisors and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as counsel to Nuance.

    Safe Harbor and Forward-Looking Statements

    Statements in this document regarding the spin off and separation and our management’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “intends” or “estimates” or similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including but not limited to: the ability to effect the separation and meet the related conditions noted above; our ability to close the sale of our Imaging business, our ability to successfully wind-down certain products or business lines, fluctuations in demand for our existing and future products; fluctuations in the mix of products and services sold in specific periods; further unanticipated costs resulting from the FY17 malware incident including potential costs associated with litigation or governmental investigations that may result from the incident; our ability to control and successfully manage our expenses and cash position; our ability to develop and execute in a timely manner our productivity and cost initiatives; the effects of competition, including pricing pressure, and changing business models in the markets and industries we serve; changes to economic conditions in the United States and internationally; uncertainties associated with the transition of our chief executive officer, and the addition of a number of new directors; the imposition of tariffs or other trade measures particularly between the United States and China; potential future impairment charges related to our newly reorganized business reporting units; fluctuating currency rates; possible quality issues in our products and technologies; our ability to successfully integrate operations and employees of acquired businesses; the conversion rate of bookings into revenue; the ability to realize anticipated synergies from acquired businesses; and the other factors described in our most recent Form 10-K, Form 10-Q and other filings with the Securities and Exchange Commission. We disclaim any obligation to update any forward-looking statements as a result of developments occurring after the date of this document.

    About Nuance Communications, Inc.

    Nuance Communications, Inc. (NASDAQ: NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. The Company delivers solutions that can understand, analyze and respond to human language to increase productivity and amplify human intelligence. With decades of domain and artificial intelligence expertise, Nuance works with thousands of organizations – in global industries that include healthcare, telecommunications, automotive, financial services, and retail – to create stronger relationships and better experiences for their customers and workforce. For more information, please visit www.nuance.com.

    Trademark reference: Nuance and the Nuance logo are registered trademarks or trademarks of Nuance Communications, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners.

    For Media
    Kate Hickman
    Nuance Communications, Inc.
    Tel: 781-565-5000
    Email: [email protected] 

    For Investors and Media
    Richard Mack
    Nuance Communications, Inc.
    Tel: 781-565-5000
    Email: [email protected]

    Posted 11.19.2018

  • Nuance Announces Fourth Quarter and Fiscal Year 2018 Results

    – Exceeded Non-GAAP Revenue, EPS, Cash Flow and Margin Expectations
    – Announced Strategic Actions after Comprehensive Portfolio Reviews 
    – Implemented Significant Changes to Corporate Governance 
    – Executed Share Repurchases and Debt Paydown 

    Burlington, MA – November 19, 2018 – Nuance Communications, Inc. (NASDAQ: NUAN) today announced financial results for its fiscal 2018 and fourth quarter ended September 30, 2018.

    “The success of our fourth quarter can be measured equally by our strong financial performance as well as the tremendous progress we’ve made toward simplifying our structure, rationalizing our portfolio, enhancing our governance, and improving our internal culture,” said Mark Benjamin, chief executive officer at Nuance.  “We met or exceeded our Q4 expectations within each of our core metrics, and are pleased with what we accomplished over these last six months to enhance shareholder value.  We made significant changes to our Board, bringing fresh perspectives, skills, and diversity of thought to the Company, and appointed an independent chairman to best represent shareholder interests.  We also continued to pivot our capital allocation toward debt paydown and share buybacks to further enhance shareholder value.  Perhaps most importantly, we conducted our strategic portfolio reviews and made definitive business decisions that will accelerate our future growth.”

    Mr. Benjamin continued, “As we define this new era for Nuance, we are sharply focused on building a global, conversational AI business that is capable of sustainable, long-term revenue and earnings growth.  We are transitioning to cloud-based, intelligence-driven solutions, and allocating resources to ensure maximum success in our high-growth core markets.  Executing on these defined strategic priorities will enable Nuance to maintain its leadership as a truly intelligent engagement company, and we look forward to sharing our continued progress.”

    Fourth Quarter Performance Summary

    On a GAAP basis:
    –    Revenue of $532.9 million, up 14% compared to $465.9 million a year ago
    –    Recurring revenue of 71% of total GAAP revenue, consistent with the year-ago period
    –    Net loss of $(35.1) million, or $(0.12) per share, compared to a loss of $(65.4) million, or $(0.23) per share, in the fourth quarter last year
    –    Operating margin of 0.9%, compared to (3.8)% in the prior year period
    –    Incurred a goodwill and other asset intangible impairment of $33.0 million related to the decision during the quarter to wind down our Subscription Revenue Services (SRS) and Devices businesses
    –    Cash flow from operations of $149.4 million, compared to $(3.5) million in the fourth quarter of fiscal year 2017

    On a non-GAAP basis:
    –    Revenue of $536.2 million as reported, up 13% compared to $474.7 million in the fourth quarter last year
    –    Organic revenue grew 12% in the quarter to $536.2 million, from $479.6 million in the prior year period
    –    Recurring revenue of 71% of¬ total non-GAAP revenue, consistent with the year-ago period
    –    Net income of $112.5 million, or $0.38 per diluted share, compared to $60.2 million, or $0.20 per diluted share, in the fourth quarter of fiscal year 2017
    –    Operating margin of 30.5%, compared to 20.7% in the prior year period
    –    Cash flow from operations of $149.4 million, or 133% of non-GAAP net income
    –    Net new bookings growth of 10%, to $468.5 million, up from $424.4 million a year ago

    Fiscal Year Performance Summary

    On a GAAP basis:
    –    Revenue of $2,051.7 million, up 6% compared to $1,939.4 million last year
    –    Recurring revenue of 71% of total GAAP revenue, compared to 73% in fiscal year 2017
    –    Net loss of $(159.9) million, or $(0.55) per share, compared to a loss of $(151.0) million, or $(0.52) per share, in fiscal year 2017
    –    Operating margin of (4.2)%, compared to 2.7% last year  
    –    Incurred a goodwill and other intangible asset impairment of $170.9 million related to SRS business disruption in Q2 18 as well as the Q4 18 decision to wind down our SRS and Devices businesses
    –    Cash flow from operations of $444.4 million, compared to $378.9 million in fiscal year 2017
    –    Total deferred revenue ending balance of $873.0 million, up 11% compared to $790.0 million at fiscal year-end 2017
    –    Total cash, cash equivalents and marketable securities ending balance of $473.5 million versus $874.1 million as of September 30, 2017.

    On a non-GAAP basis:
    –    Revenue of $2,069.4 million as reported, up 5% compared to $1,977.4 million last year
    –    Organic revenue grew 4% compared to (3)% in the prior year period
    –    Recurring revenue of 72% of¬ total non-GAAP revenue, compared to 73% in fiscal year 2017
    –    Net income of $351.9 million, or $1.19 per diluted share, compared to net income of $309.0 million, or $1.05 per diluted share, in fiscal year 2017
    –    Operating margin of 26.1%, compared to 26.4% last year
    –    Cash flow from operations of $444.4 million, or 126.3% of non-GAAP net income
    –    Net new bookings growth of 5%, to $1,734.6 million, up from $1,653.6 million a year ago

    Portfolio Review, Business Review and Transformation Program
    Healthcare and Enterprise Focus – After conducting the strategic business review, Nuance created a comprehensive plan to simplify its operations and enhance its focus on growth markets, including the Healthcare, Enterprise and Automotive segments.  Therefore, the Company will maintain its Healthcare and Enterprise business segments, where Nuance brings deep business-to-business relationships, differentiated technology and contextual expertise.  

    Automotive Segment Spin-Off – The Automotive segment delivers critical enabling technology for transforming the passenger experience.  Therefore, becoming a pure-play next generation automotive software company represents an important step in this segment’s growth.  Accordingly, in conjunction with today’s earnings announcement, Nuance announced its intention to spin off the Automotive segment into a new, independent, publicly-traded company.  Additional information about the proposed transaction is available in the separate press release issued today.

    Imaging Business Sale – As announced on November 12, 2018, Nuance is selling its Imaging business to Kofax for a purchase price of $400 million, in a transaction that is expected to close by the end of Q2 19.

    Subscription Revenue Services (SRS) and Devices Wind-Down – During the fourth quarter, Nuance decided to wind down the Subscription Revenue Services (SRS) business because it is non-core to Nuance’s AI strengths.  The Company is also commencing the wind-down of the consumer-focused Devices business.

    Operational Transformation Program – In tandem with the Company’s strategic portfolio review, Nuance is optimizing its organizational structure.  This process has identified $50 million in cost savings that will be implemented in fiscal year 2019, primarily during the first and second quarter.

    Capital Allocation
    In Q3 18, the Company implemented a capital allocation strategy for the fiscal year focused on opportunistic share repurchase and debt repayment.  Accordingly, during fiscal year 2018, Nuance repurchased a total of 9.7 million shares of common stock, representing 3.3% of total shares outstanding as of September 30, 2017,  at an average price of $14.03 per share, and a total purchase price of $136.1 million.

    In addition, in Q4 18, the Company repaid $150 million of its 2020 5.375% high-yield bonds at par, reducing annual cash interest expense by approximately $8.1 million.  As a result, total debt maturity value is approximately $2.44 billion as of September 30, 2018, down from $2.59 billion as of June 30, 2018, and the Company’s net debt leverage ratio is 3.3.

    Governance Improvements and Management Additions
    Nuance refreshed its Board in September, naming four new independent directors and a new non-executive Board Chair, bringing new talent, with a wealth of relevant expertise and relevant skills.  Of the nine Board members, seven have joined since December 2017 and eight are independent directors, including Lloyd Carney, who was named the new chairman.  Separately, on November 9, 2018, Nuance announced that its Board had changed its Bylaws to enable holders of at least 20% of Nuance common stock outstanding to request that the Company call a special meeting of stockholders.

    Business Outlook
    For a complete discussion on Nuance’s fourth quarter and fiscal year 2018 results and 2019 business outlook, please see the Company’s Prepared Remarks document available at https://investors.nuance.com/investors/financial-information/quarterly-results/default.aspx.

    Please refer to the “Discussion of Non-GAAP Financial Measures,” and “GAAP to Non-GAAP Reconciliations,” included elsewhere in this release, for more information regarding the company’s use of non-GAAP financial measures.

    Conference Call and Prepared Remarks
    Nuance provides prepared remarks in combination with its press release.  This quarter, the company is also providing a PowerPoint presentation to accompany the conference call discussion to provide insights into the business update.  The prepared remarks are offered to provide shareholders and analysts with additional time and detail for analyzing results in advance of the company’s quarterly conference call.  The remarks will be available at https://investors.nuance.com/investors/financial-information/quarterly-results/default.aspx in conjunction with this press release but will not be read on the conference call.

    Nuance will host an investor conference call today that will begin at 5:00 p.m. ET and will include management comments followed by questions and answers.  To access the live broadcast, and to view the PowerPoint presentation that will accompany this call, please visit the Investor Relations section of Nuance’s website at http://investors.nuance.com.  The call can also be heard by dialing (877) 273-6124 or (647) 689-5393 at least five minutes prior to the call and referencing conference code 2572316.  A replay will be available shortly following the conclusion of the call by dialing (800) 585-8367 or (416) 621-4642 and using the access code 2572316. The presentation will be available on the Nuance Investor Relations site after the call is completed.

    About Nuance Communications, Inc.
    Nuance Communications, Inc. (NASDAQ: NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life.  The Company delivers solutions that understand, analyze and respond to human language to increase productivity and amplify human intelligence.  With decades of domain and artificial intelligence expertise, Nuance works with thousands of organizations – in global industries that include healthcare, telecommunications, automotive, financial services, and retail – to create stronger relationships and better experiences for their customers and workforce.  For more information, please visit www.nuance.com.

    Trademark reference: Nuance and the Nuance logo are registered trademarks or trademarks of Nuance Communications, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners.

    Safe Harbor and Forward-Looking Statements
    Statements in this document regarding future performance and our management’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “intends” or “estimates” or similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including but not limited to: the ability to effect the separation and spin-off of our Auto business; our ability to close the sale of our Imaging business; our ability to successfully wind down certain products or business lines; fluctuations in demand for our existing and future products; fluctuations in the mix of products and services sold in specific periods; further unanticipated costs resulting from the FY17 malware incident including potential costs associated with litigation or governmental investigations that may result from the incident; our ability to control and successfully manage our expenses and cash position; our ability to develop and execute in a timely manner our productivity and cost initiatives; the effects of competition, including pricing pressure, and changing business models in the markets and industries we serve; changes to economic conditions in the United States and internationally; uncertainties associated with the transition of our chief executive officer, and the addition of a number of new directors; the imposition of tariffs or other trade measures particularly between the United States and China; potential future impairment charges related to our newly reorganized business reporting units; fluctuating currency rates; possible quality issues in our products and technologies; our ability to successfully integrate operations and employees of acquired businesses; the conversion rate of bookings into revenue; the ability to realize anticipated synergies from acquired businesses; and the other factors described in our most recent Form 10-K, Form 10-Q and other filings with the Securities and Exchange Commission. We disclaim any obligation to update any forward-looking statements as a result of developments occurring after the date of this document.

    Definitions of Bookings and Net New Bookings
    Bookings. Bookings represent the estimated gross revenue value of transactions at the time of contract execution, except for maintenance and support offerings. For fixed price contracts, the bookings value represents the gross total contract value.  For contracts where revenue is based on transaction volume, the bookings value represents the contract price multiplied by the estimated future transaction volume during the contract term, whether or not such transaction volumes are guaranteed under a minimum commitment clause. Actual results could be different than our initial estimates. The maintenance and support bookings value represents the amounts billed in the period the customer is invoiced. Because of the inherent estimates required to determine bookings and the fact that the actual resultant revenue may differ from our initial bookings estimates, we consider bookings one indicator of potential future revenue and not as an arithmetic measure of backlog.

    Net new bookings. Net new bookings represents the estimated revenue value at the time of contract execution from new contractual arrangements or the estimated revenue value incremental to the portion of the transaction value attributable to renewals under pre-existing arrangements. Constant currency for net new bookings is calculated using current period net new bookings denominated in currencies other than United States dollars, converted into United States dollars using the average exchange rate for those currencies from the prior year period rather than the actual exchange rate in effect during the current period.

    Discussion of non-GAAP Financial Measures
    We believe that providing the non-GAAP information to investors, in addition to the GAAP presentation, allows investors to view the financial results in the way management views the operating results. We further believe that providing this information allows investors to not only better understand our financial performance, but more importantly, to evaluate the efficacy of the methodology and information used by management to evaluate and measure such performance. The non-GAAP information included in this press release should not be considered superior to, or a substitute for, financial statements prepared in accordance with GAAP.

    We utilize a number of different financial measures, both Generally Accepted Accounting Principles (“GAAP”) and non-GAAP, in analyzing and assessing the overall performance of the business, for making operating decisions and for forecasting and planning for future periods. Our annual financial plan is prepared both on a GAAP and non-GAAP basis, and the non-GAAP annual financial plan is approved by our board of directors. Continuous budgeting and forecasting for revenue and expenses are conducted on a consistent non-GAAP basis (in addition to GAAP) and actual results on a non-GAAP basis are assessed against the non-GAAP annual financial plan. The board of directors and management utilize these non-GAAP measures and results (in addition to the GAAP results) to determine our allocation of resources. In addition, and as a consequence of the importance of these measures in managing the business, we use non-GAAP measures and results in the evaluation process to establish management’s compensation. For example, our annual bonus program payments are based upon the achievement of consolidated non-GAAP revenue and consolidated non-GAAP earnings per share financial targets. We consider the use of non-GAAP revenue helpful in understanding the performance of our business, as it excludes the purchase accounting impact on acquired deferred revenue and other acquisition-related adjustments to revenue. We also consider the use of non-GAAP earnings per share helpful in assessing the organic performance of the continuing operations of our business. By organic performance we mean performance as if we had owned an acquired business in the same period a year ago. By constant currency organic performance, we mean performance excluding the effect of current foreign currency rate fluctuations.  By continuing operations, we mean the ongoing results of the business excluding certain unplanned costs. While our management uses these non-GAAP financial measures as a tool to enhance their understanding of certain aspects of our financial performance, our management does not consider these measures to be a substitute for, or superior to, the information provided by GAAP financial statements. Consistent with this approach, we believe that disclosing non-GAAP financial measures to the readers of our financial statements provides such readers with useful supplemental data that, while not a substitute for GAAP financial statements, allows for greater transparency in the review of our financial and operational performance. In assessing the overall health of the business during the three and twelve months ended September 30, 2018 and 2017, our management has either included or excluded items in seven general categories, each of which is described below.

    Acquisition-related revenue and cost of revenue.
    We provide supplementary non-GAAP financial measures of revenue that include revenue that we would have recognized but for the purchase accounting treatment of acquisition transactions. Non-GAAP revenue also includes revenue that we would have recognized had we not acquired intellectual property and other assets from the same customer. Because GAAP accounting requires the elimination of this revenue, GAAP results alone do not fully capture all of our economic activities. These non-GAAP adjustments are intended to reflect the full amount of such revenue. We include non-GAAP revenue and cost of revenue to allow for more complete comparisons to the financial results of historical operations, forward-looking guidance and the financial results of peer companies. We believe these adjustments are useful to management and investors as a measure of the ongoing performance of the business because, although we cannot be certain that customers will renew their contracts, we have historically experienced high renewal rates on maintenance and support agreements and other customer contracts. Additionally, although acquisition-related revenue adjustments are non-recurring with respect to past acquisitions, we generally will incur these adjustments in connection with any future acquisitions.

    Acquisition-related costs, net.
    In recent years, we have completed a number of acquisitions, which result in operating expenses, which would not otherwise have been incurred. We provide supplementary non-GAAP financial measures, which exclude certain transition, integration and other acquisition-related expense items resulting from acquisitions, to allow more accurate comparisons of the financial results to historical operations, forward looking guidance and the financial results of less acquisitive peer companies. We consider these types of costs and adjustments, to a great extent, to be unpredictable and dependent on a significant number of factors that are outside of our control. Furthermore, we do not consider these acquisition-related costs and adjustments to be related to the organic continuing operations of the acquired businesses and are generally not relevant to assessing or estimating the long-term performance of the acquired assets. In addition, the size, complexity and/or volume of past acquisitions, which often drives the magnitude of acquisition related costs, may not be indicative of the size, complexity and/or volume of future acquisitions. By excluding acquisition-related costs and adjustments from our non-GAAP measures, management is better able to evaluate our ability to utilize our existing assets and estimate the long-term value that acquired assets will generate for us. We believe that providing a supplemental non-GAAP measure, which excludes these items allows management and investors to consider the ongoing operations of the business both with, and without, such expenses.
    These acquisition-related costs fall into the following categories: (i) transition and integration costs; (ii) professional service fees and expenses; and (iii) acquisition-related adjustments. Although these expenses are not recurring with respect to past acquisitions, we generally will incur these expenses in connection with any future acquisitions. These categories are further discussed as follows:
    (i)  Transition and integration costs. Transition and integration costs include retention payments, transitional employee costs, and earn-out payments treated as compensation expense, as well as the costs of integration-related activities, including services provided by third-parties.
    (ii)  Professional service fees and expenses. Professional service fees and expenses include financial advisory, legal, accounting and other outside services incurred in connection with acquisition activities, and disputes and regulatory matters related to acquired entities.
    (iii)  Acquisition-related adjustments. Acquisition-related adjustments include adjustments to acquisition-related items that are required to be marked to fair value each reporting period, such as contingent consideration, and other items related to acquisitions for which the measurement period has ended, such as gains or losses on settlements of pre-acquisition contingencies.

    Amortization of acquired intangible assets.
    We exclude the amortization of acquired intangible assets from non-GAAP expense and income measures. These amounts are inconsistent in amount and frequency and are significantly impacted by the timing and size of acquisitions. Providing a supplemental measure which excludes these charges allows management and investors to evaluate results “as-if” the acquired intangible assets had been developed internally rather than acquired and, therefore, provides a supplemental measure of performance in which our acquired intellectual property is treated in a comparable manner to our internally developed intellectual property. Although we exclude amortization of acquired intangible assets from our non-GAAP expenses, we believe that it is important for investors to understand that such intangible assets contribute to revenue generation. Amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Future acquisitions may result in the amortization of additional intangible assets.

    Non-cash expenses.
    We provide non-GAAP information relative to the following non-cash expenses: (i) stock-based compensation; and (ii) non-cash interest.  These items are further discussed as follows:
    (i) Stock-based compensation. Because of varying valuation methodologies, subjective assumptions and the variety of award types, we believe that excluding stock-based compensation allows for more accurate comparisons of operating results to peer companies, as well as to times in our history when stock-based compensation was more or less significant as a portion of overall compensation than in the current period. We evaluate performance both with and without these measures because compensation expense related to stock-based compensation is typically non-cash and the options and restricted awards granted are influenced by the Company’s stock price and other factors such as volatility that are beyond our control. The expense related to stock-based awards is generally not controllable in the short-term and can vary significantly based on the timing, size and nature of awards granted. As such, we do not include such charges in operating plans. Stock-based compensation will continue in future periods.
    (ii) Non-cash interest.  We exclude non-cash interest because we believe that excluding this expense provides senior management, as well as other users of the financial statements, with a valuable perspective on the cash-based performance and health of the business, including the current near-term projected liquidity. Non-cash interest expense will continue in future periods.

    Other expenses.
    We exclude certain other expenses that result from unplanned events outside the ordinary course of continuing operations, in order to measure operating performance and current and future liquidity both with and without these expenses. By providing this information, we believe management and the users of the financial statements are better able to understand the financial results of what we consider to be our organic, continuing operations. Included in these expenses are items such as restructuring charges, asset impairments and other charges (credits), net, and losses from extinguishing our convertible debt.  Other items such as consulting and professional services fees related to assessing strategic alternatives and our transformation programs, implementation of the new revenue recognition standard (ASC 606), and expenses associated with the malware incident and remediation thereof are also excluded.

    Non-GAAP income tax provision.
    Effective Q2 2017, we changed our method of calculating our non-GAAP income tax provision. Under the prior method, we calculated our non-GAAP tax provision using a cash tax method to reflect the estimated amount we expected to pay or receive in taxes related to the period, which is equivalent to our GAAP current tax provision.  Under the new method, our non-GAAP income tax provision is determined based on our non-GAAP pre-tax income. The tax effect of each non-GAAP adjustment, if applicable, is computed based on the statutory tax rate of the jurisdiction to which the adjustment relates. Additionally, as our non-GAAP profitability is higher based on the non-GAAP adjustments, we adjust the GAAP tax provision to remove valuation allowances and related effects based on the higher level of reported non-GAAP profitability.  We also exclude from our non-GAAP tax provision certain discrete tax items as they occur, which in fiscal year 2018 also includes certain impacts from the Tax Cuts and Jobs Act of 2017.

    Contact Information

    Richard Mack
    Nuance Communications, Inc.
    Tel: 781-565-5000
    Email: [email protected]

     

     

    Posted 11.19.2018

  • Health Catalyst Ranked Among the Fastest Growing Companies in North America on Deloitte’s 2018 Technology Fast 500

    Attributes 254 Percent Revenue Growth to Company’s Documented Success Improving Clinical, Financial and Operational Outcomes for Healthcare Organizations

    Salt Lake City, UT – November 15, 2018 – Health Catalyst, Inc., a leader in healthcare analytics, decision support and outcomes improvement, today announced it ranked No. 323 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America.

    Health Catalyst CEO Dan Burton credits growing interest in the company’s Data Operating System (DOS™) analytics platform and outcomes-improvement services with its 254 percent revenue growth.

    “We are honored to be named one of the nation’s fastest growing companies by Deloitte,” Burton said. “We owe our success to a great team that delivers the integrated data, advanced analytics infrastructure and know-how that enables our clients to scale their outcomes’ improvement initiatives. Most fundamentally, though, our growth is a reflection of our clients’ pervasive and consistent dedication to healthcare excellence.”

    Health Catalyst has published more than 160 case studies documenting measureable improvements in the quality and cost of care for its clients.

    “Congratulations to the Deloitte 2018 Technology Fast 500 winners on this impressive achievement,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “These companies are innovators who have converted their disruptive ideas into products, services and experiences that can captivate new customers and drive remarkable growth.”

    Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2014 to 2017.

    Health Catalyst’s Fast 500 ranking is one of several accolades received by the company in 2018, including: 

    • 5000 fastest growing private companies (6th year in a row)
    • Salt Lake Tribune’s Top Workplaces 2018 (4th year in a row)
    • 2018 Gallup Great Workplace Award (3rd year in a row)
    • magazine’s Best Workplaces 2018 (2nd year in a row)
    • Computerworld’s 2018 Best Places to Work in IT (2nd year in a row)
    • 2018 “Best in KLAS” ranking for Business Intelligence and Analytics (2nd year in a row)
    • KLAS Research’s “A-List” of HIT companies that combine high customer satisfaction with high rates of customer retention (April 2018 report, Decision Insights 2018: National Trends & Best Practices)
    • Microsoft Corp.’s 2018 Health Innovation Award (shared with UPMC)

     About Health Catalyst

    Health Catalyst, Inc. is a next-generation data, analytics, and decision-support company, committed to being a catalyst for massive, sustained improvements in healthcare outcomes. We are the leaders in a new era of advanced predictive analytics for population health and value-based care with a suite of machine learning-driven solutions, decades of outcomes improvement expertise, and an unparalleled ability to unleash and integrate data from across the healthcare ecosystem. Our Health Catalyst Data Operating System (DOS™)—a next-generation data warehouse and application development platform powered by data from more than 100 million patients, and encompassing over 1 trillion facts—helps improve quality, add efficiency and lower costs for organizations ranging from the largest US health system to forward-thinking physician practices. Our technology and professional services can help you keep patients engaged and healthy in their homes, communities, and workplaces, and we can help you optimize care delivery to those patients when it becomes necessary. We are grateful to be recognized by Fortune, Gallup, Glassdoor, Modern Healthcare and a host of others as a Best Place to Work in technology and healthcare. Visit www.healthcatalyst.com and follow us on Twitter, LinkedIn and Facebook.

    About Deloitte

    Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

    For more information contact:

    Todd Stein
    Amendola Communications
    510-417-0612
    [email protected]

     

    Posted 11.15.2018
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