WALTHAM, Mass.--(BUSINESS WIRE)--July 5, 2005-- Financing Supports Quality Assurance and Sales & Marketing Expansion for Industry’s Fastest Medical Transcription Service Spryance Inc., an innovative provider of high-speed, high-quality and secure medical transcription services and technologies, today announced that the Company has closed a $6.1 million Series C round of financing through raised capital and the conversion of existing notes. Beecken, Petty, O’Keefe & Company (“BPOC”) led the funding round with a $5 million investment, while the remaining $1.1 million came from existing investors. Spryance will use the new funding to enhance its U.S. sales efforts, acquire U.S. medical transcription companies, and expand global quality assurance and production operations. “Our investors are very enthusiastic about the market’s adoption of Spryance’s medical transcription services,” said Raj Malhotra, president and CEO of Spryance. “Our customers are enjoying the benefits of consistently accurate, timely and complete medical transcriptions that are made possible by Spryance’s operational excellence. With strong customer validation and market reception, it is clear that the business opportunity for Spryance is substantial.”
