• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

  • Opinion
  • Health IT
    • Behavioral Health
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Patient Engagement
    • Population Health Management
    • Revenue Cycle Management
    • Social Determinants of Health
  • Digital Health
    • AI
    • Blockchain
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • M&A
  • Value-based Care
    • Accountable Care (ACOs)
    • Medicare Advantage
  • Life Sciences
  • Research

M*Modal Will Receive Approval to Emerge From Chapter 11

by Fred Pennic 07/15/2014 Leave a Comment

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

M*Modal Will Receive Approval to Emerge From Chapter 11

M*Modal, a provider of clinical documentation and Speech Understanding™ solutions, announced that it expects to emerge from Chapter 11 within three weeks following today’s confirmation of the Company’s Plan of Reorganization by the U.S. Bankruptcy Court for the Southern District of New York. The Plan provides for restructuring of the Company’s debt, and has the support of substantial majorities of its lenders and bondholders. 

“We are pleased to have reached this important final milestone, and look forward to emerging from the financial restructuring process which will dramatically reduce our debt, strengthen our balance sheet and provide significant financial flexibility,” said Duncan James, M*Modal’s Chief Executive Officer. “With renewed financial strength, we will continue our focus on delivering innovative solutions to our healthcare customers and growing market share. We remain committed to providing the highest quality of clinical documentation and superior Speech Understanding solutions. We thank our customers and suppliers for their support throughout this process, as well as our employees for their dedication to M*Modal.”

The Plan reflects the terms of M*Modal’s previously announced agreement with its controlling bondholders and lenders on the terms of a financial restructuring plan. Once completed, this financial restructuring will strengthen the Company’s balance sheet resulting from reducing its debt by more than 55 percent and establishing a capital structure supporting M*Modal’s continued investment in clinical documentation services and solutions.

Mr. James added, “We thank our bondholders, lenders and their advisors who worked with us constructively to complete M*Modal’s financial restructuring as quickly as possible.”

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

Tap Native

Get in-depth healthcare technology analysis and commentary delivered straight to your email weekly

Reader Interactions

Primary Sidebar

Subscribe to HIT Consultant

Latest insightful articles delivered straight to your inbox weekly.

Submit a Tip or Pitch

Featured Insights

2025 EMR Software Pricing Guide

2025 EMR Software Pricing Guide

Featured Interview

Paradigm Shift in Diabetes Care with Studio Clinics: Q&A with Reach7 Founder Chun Yong

Most-Read

Medtronic to Separate Diabetes Business into New Standalone Company

Medtronic to Separate Diabetes Business into New Standalone Company

White House, IBM Partner to Fight COVID-19 Using Supercomputers

HHS Sets Pricing Targets for Trump’s EO on Most-Favored-Nation Drug Pricing

23andMe to Mine Genetic Data for Drug Discovery

Regeneron to Acquire Key 23andMe Assets for $256M, Pledges Continuity of Consumer Genome Services

CureIS Healthcare Sues Epic: Alleges Anti-Competitive Practices & Trade Secret Theft

The Evolving Role of Physician Advisors: Bridging the Gap Between Clinicians and Administrators

The Evolving Physician Advisor: From UM to Value-Based Care & AI

UnitedHealth Group Names Stephen Hemsley CEO as Andrew Witty Steps Down

UnitedHealth CEO Andrew Witty Steps Down, Stephen Hemsley Returns as CEO

Omada Health Files for IPO

Omada Health Files for IPO

Blue Cross Blue Shield of Massachusetts Launches "CloseKnit" Virtual-First Primary Care Option

Blue Cross Blue Shield of Massachusetts Launches “CloseKnit” Virtual-First Primary Care Option

Osteoboost Launches First FDA-Cleared Prescription Wearable Nationwide to Combat Low Bone Density

Osteoboost Launches First FDA-Cleared Prescription Wearable Nationwide to Combat Low Bone Density

2019 MedTech Breakthrough Award Category Winners Announced

MedTech Breakthrough Announces 2025 MedTech Breakthrough Award Winners

Secondary Sidebar

Footer

Company

  • About Us
  • Advertise with Us
  • Reprints and Permissions
  • Submit An Op-Ed
  • Contact
  • Subscribe

Editorial Coverage

  • Opinion
  • Health IT
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Population Health Management
    • Revenue Cycle Management
  • Digital Health
    • Artificial Intelligence
    • Blockchain Tech
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • Value-Based Care
    • Accountable Care
    • Medicare Advantage

Connect

Subscribe to HIT Consultant Media

Latest insightful articles delivered straight to your inbox weekly

Copyright © 2025. HIT Consultant Media. All Rights Reserved. Privacy Policy |