Nuance became a household name for creating the speech engine recognition engine behind Siri. In recent years, the company has put a strong focus on AI solutions for healthcare and is now a full-service partner of 77 percent of US hospitals and is trusted by over 500,000 physicians daily.

Earlier this year, Microsoft acquired Nuance with the promise of ushering in a “new era of outcomes-based AI”. Microsoft is also active in the healthcare space and its acquisition of Nuance was investigated by regulators over concerns it may reduce competition.

Regulators ultimately ended up giving the deal the thumbs up.

The EU’s regulator, for example, concluded that Nuance would continue to face stiff competition in the future, the data Microsoft gains would not provide it with an advantage to shut out competitors, and there’d be no ability/incentive to foreclose existing solutions.

“Combining the power of Nuance’s deep vertical expertise and proven business outcomes across healthcare, financial services, retail, telecommunications, and other industries with Microsoft’s global cloud ecosystems will enable us to accelerate our innovation and deploy our solutions more quickly, more seamlessly, and at greater scale to solve our customers’ most pressing challenges,” said Mark Benjamin, CEO of Nuance, at the time of Microsoft’s acquisition.

Nuance says both companies represent two of the most trusted and innovative technology organisations in the world. As such, it believes Nuance and Microsoft are in a position to foster a community anchored in collaboration with key leading health systems (LHS) executives and experts across the healthcare ecosystem. That community will be The AI Collaborative.

“Our members have expressed their desire for a dedicated space to explore AI in healthcare and its enormous potential to improve outcomes and clinical workflow,” said Renee DeSilva, CEO of The Academy.

“We are thrilled to expand our partnership with Microsoft and Nuance to introduce The AI Collaborative, a new program at The Academy designed exclusively for clinical and operational executives who lead their organization’s approach to investing in AI as a strategic initiative.”

The AI Collaborative will bring together senior leaders from LHS to understand their current and future needs and create the AI and ML innovations required to fulfil them.

“The key to successful healthcare innovation using AI is understanding at a deep level the problems that you’re trying to solve and focusing on the outcomes you want to achieve,” explained Peter Durlach, Chief Strategy Officer of Nuance.

“With the combined engineering, market and domain expertise of Nuance and Microsoft, The AI Collaborative can bring together multiple technical, business and clinical stakeholders to prioritize deployment of solutions for clinician burnout, patient engagement and health system financial stability, while accelerating innovation in precision medicine, drug discovery, clinical decision support and other promising use cases across the entire healthcare ecosystem.”

The AI Collaborative will commence in September 2022 and kick off with a visit to Microsoft’s corporate HQ. Annual summits will be held going forward where stakeholders will learn how to best utilise patient-specific data and insights to augment care delivery, reduce care variation, and support operational improvements.

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“Completion of this significant and strategic acquisition brings together Nuance’s best-in-class conversational AI and ambient intelligence with Microsoft’s secure and trusted industry cloud offerings,” said Scott Guthrie, Executive Vice President of the Cloud + AI Group at Microsoft. 

“This powerful combination will help providers offer more affordable, effective, and accessible healthcare, and help organisations in every industry create more personalised and meaningful customer experiences. I couldn’t be more pleased to welcome the Nuance team to our Microsoft family.”

Nuance became a household name (in techie households, anyway) for creating the speech recognition engine that powers Apple’s smart assistant, Siri. However, Nuance has been in the speech recognition business since 2001 when it was known as ScanSoft.

While it may not have made many big headlines in recent years, Nuance has continued to make some impressive advancements—which caught the attention of Microsoft.

Microsoft announced its intention to acquire Nuance for $19.7 billion last year, in the company’s largest deal after its $26.2 billion acquisition of LinkedIn (both deals would be blown out the water by Microsoft’s proposed $70 billion purchase of Activision Blizzard).

The proposed acquisition of Nuance caught the attention of global regulators. It was cleared in the US relatively quickly, while the EU’s regulator got in the festive spirit and cleared the deal just prior to last Christmas. The UK’s Competition and Markets Authority finally gave it a thumbs-up last week.

Regulators examined whether there may be anti-competition concerns in some verticals where both companies are active, such as healthcare. However, after investigation, the regulators determined that competition shouldn’t be affected by the deal.

The EU, for example, determined that “competing transcription service providers in healthcare do not depend on Microsoft for cloud computing services” and that “transcription service providers in the healthcare sector are not particularly important users of cloud computing services”.

Furthermore, the EU’s regulator concluded:

• Microsoft-Nuance will continue to face stiff competition from rivals in the future.
• There’d be no ability/incentive to foreclose existing market solutions.
• Nuance can only use the data it collects for its own services.
• The data will not provide Microsoft with an advantage to shut out competing software providers.

The companies appear keen to ensure that people are aware the deal is about more than just healthcare.

“Combining the power of Nuance’s deep vertical expertise and proven business outcomes across healthcare, financial services, retail, telecommunications, and other industries with Microsoft’s global cloud ecosystems will enable us to accelerate our innovation and deploy our solutions more quickly, more seamlessly, and at greater scale to solve our customers’ most pressing challenges,” said Mark Benjamin, CEO of Nuance.

Benjamin will remain the CEO of Nuance and will report to Guthrie.

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Nuance gained renown for originally creating the backend of that little old virtual assistant called Siri (you might have heard of it?)

The company has since continued to focus on building its speech recognition capabilities and has a number of solutions which span particular industries such as healthcare to general omni-channel customer experience services.

Earlier this year, Microsoft decided Nuance is worth coughing up $19.7 billion for.

As such large deals often do, the proposed acquisition caught the eyes of several global regulators. In the case of the EU, it was referred to the Commission’s regulators on 16 November.

The regulator said on Tuesday that the proposed acquisition “would raise no competition concerns” within the bloc and that “Microsoft and Nuance offer very different products” after looking at potential horizontal overlaps between the companies’ transcription solutions.

Vertical links in the healthcare space were also analysed but it was determined that “competing transcription service providers in healthcare do not depend on Microsoft for cloud computing services” and that “transcription service providers in the healthcare sector are not particularly important users of cloud computing services”.

Furthermore, the regulator concluded:

• Microsoft-Nuance will continue to face stiff competition from rivals in the future.
• There’d be no ability/incentive to foreclose existing market solutions.
• Nuance can only use the data it collects for its own services.
• The data will not provide Microsoft with an advantage to shut out competing software providers.

The EU’s decision mirrors that of regulators in the US and Australia. However, the UK’s Competition and Markets Authority (CMA) announced its own investigation earlier this month.

When it announced the deal, Microsoft said that it aims to complete its acquisition by the end of 2021. The CMA is accepting comments until 10 January 2022 so it seems that Microsoft may have to hold out a bit longer.

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Silicon Valley darling Nuance is one of the world’s most recognisable AI companies for the creation of Siri, the voice assistant that would later go on to become Apple’s first-party solution.

Nuance now focuses its efforts predominantly on enterprise communications, particularly in the healthcare space which has seen increased interest amid the COVID-19 pandemic. Using technology from Nuance, medical staff can reduce their reliance on pen-and-paper and free up more time for improving patient outcomes.

Bloomberg initially reported Microsoft’s interest in Nuance.

Anurag Rana, Senior Analyst at Bloomberg Intelligence, commented in the report: “This can really help Microsoft accelerate the digitisation of the healthcare industry, which has lagged other sectors such as retail and banking.

“The biggest near-term benefit that I can see is in the area of telehealth, where Nuance transcription product is currently being used with Microsoft Teams.”

Nuance’s shares [NUAN] closed yesterday at $45.58 but Microsoft is reportedly prepared to pay $56 per share – over 20 percent higher. Nuance’s shares have increased pre-market to $54.90 per share, seemingly boosted by the rumours.

Microsoft has all but killed off its Cortana voice assistant for consumer-facing purposes, removing it from the App Store and Play Store earlier this month. Redmond now appears to be pivoting its efforts towards developing AI solutions for specific enterprise areas.

In addition to Nuance’s AI expertise, Microsoft would also be gaining access to the company’s over 3,500 patents.

If the deal goes ahead, it would represent Microsoft’s largest acquisition after its $24 billion takeover of Linkedin. Microsoft is also reportedly in talks to acquire gaming communications platform Discord for over $10 billion. This could be a very big news month for Redmond.

Update: Well, we did say the deal was expected to be announced imminently. Mere hours after this article went live Microsoft confirmed its acquisition of Nuance in an all-cash transaction valued at $19.7 billion.

“Nuance provides the AI layer at the healthcare point of delivery and is a pioneer in the real-world application of enterprise AI,” said Satya Nadella, CEO, Microsoft. “AI is technology’s most important priority, and healthcare is its most urgent application. Together, with our partner ecosystem, we will put advanced AI solutions into the hands of professionals everywhere to drive better decision-making and create more meaningful connections, as we accelerate growth of Microsoft Cloud for Healthcare and Nuance.”

“Over the past three years, Nuance has streamlined its portfolio to focus on the healthcare and enterprise AI segments, where there has been accelerated demand for advanced conversational AI and ambient solutions,” said Mark Benjamin, CEO, Nuance. “To seize this opportunity, we need the right platform to bring focus and global scale to our customers and partners to enable more personal, affordable and effective connections to people and care. The path forward is clearly with Microsoft —  who brings intelligent cloud-based services at scale and who shares our passion for the ways technology can make a difference. At the same time, this combination offers a critical opportunity to deliver meaningful and certain value to our shareholders who have driven and supported us on this journey.”

“Nuance not only brings an attractive set of healthcare customers in AI – a huge bid for Microsoft – but also deep domain expertise as well. This has been the missing ingredient for Microsoft until now,” comments Nicholas McQuire, Chief of Enterprise Research at CCS Insight.

“In the past, we have seen firms like IBM buy industry specialism in datasets but Nuance delivers Microsoft a more mature set of AI solutions in areas such as speech recognition, document processing, fraud detection, and image recognition. Ultimately these will prove key to differentiating Azure to healthcare customers against its largely horizontal competitors.”

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Medical imaging is so important because it offers a way to pick up and detect problems as early as possible without intrusive methods. GE Healthcare and Nuance have chosen to partner with Nvidia for use of their deep learning platform.

Kimberly Powell, Vice President of Healthcare at NVIDIA, said: “Medical imaging is an essential tool for delivering the best healthcare, and now we have the opportunity to massively enhance it with AI.”

GE Healthcare

To begin with, Nvidia’s AI computing platform will be deployed across GE Healthcare’s 500,000 imaging devices around the world and use ‘Revolution Frontier CT’ which Nvidia claims is twice as fast at image processing than its predecessor.

The company will also power GE Healthcare’s analytics platform ‘Applied Intelligence’ to help ensure the faster deployment of deep-learning algorithms for future medical instruments.

Nuance

Next up is the partnership with Nuance who are announcing their ‘AI Marketplace for Diagnostic Imaging’ which is built on Nvidia’s deep learning platform.

The aim for the marketplace is to enable radiologists to get involved with building potentially life-saving algorithms for use in clinics around the world.

“Transforming the delivery of patient care and combating disease starts with the most advanced technologies being readily available when and where it counts – in every reading room, across the United States,” said Peter Durlach, senior vice president, Healthcare at Nuance.

“Our AI Marketplace will bring together the leading technical, research and healthcare minds to create a collection of image processing algorithms that, when made accessible to the wide array of radiologists who use our solutions daily, has the power to exponentially impact outcomes and further drive the value of radiologists to the broader care team.”

Nuance claims around 70 percent of radiologists use their image-sharing and reporting solutions, and the deployment of this marketplace will help to improve the workflow of radiologists for quicker detection and quantification of key clinical findings.

Nvidia’s Digits developer tool will be updated to provide developers with a way to publish their algorithms directly to Nuance PowerShare.

The announcements were made during the annual meeting of the Radiological Society of North America (RSNA), in Chicago, which was attended by more than 50,000 professionals.

Find the rest of our coverage of AI for healthcare purposes here.

Are you impressed with Nvidia’s new partnerships to use AI for improving radiology? Let us know in the comments.

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