Dynamic Healthcare M&A Database

Acquiring Party	Warburg Pincus and Soros Private Equity, two prominent private equity firms.
Transferring Party	Parthenon Capital's portfolio company, Spheris, Inc., a provider of medical transcription services to leading acute-care hospitals and group medical practices.
Sector	Medical Services
Date	November 8, 2005
Analysis This is a recap, with existing management and new ownership. Spheris is the second largest medical transcription company in the U.S. It was formed in 2003 through Total eMed's acquisition of EdiX. New growth initiatives are set under the new program.
The Walden Group is a leading healthcare investment banking firm specializing in mergers, acquisitions and strategic transactions. It also invests its own funds and, together with its expert operational partners, provides value-added services to help special companies reach critical milestones. This information is copyright © 2004-2007 The Walden Group, Inc. This information is provided as a service to the public but remains the intellectual property of The Walden Group, Inc and may not be reproduced in any manner without the written permission of The Walden Group, Inc. The information contained in the transactions table was derived from publicly available and other sources. Transaction analysis and other information are based, in part, upon public comments, Walden Group research and judgments, and reporting and research of others. The information is not intended to be relied upon as pronouncements by the transaction participants or for any other reason.

Dynamic Healthcare M&A Database - 4Q05