Simpson Thacher, Dechert, Buchanan: Business of Law

MModal Inc., the largest provider of medical transcription services, said it agreed to be bought by a JPMorgan Chase & Co. unit for about $1.1 billion.

One Equity Partners, JPMorgan’s private investment arm, will pay $14 a share in cash for MModal, or 8.3 percent more than the stock’s July 2 closing price, the Franklin, Tennessee-based company said in a statement July 3. MModal’s board accepted the offer, to be made in a tender on or before July 17 and expected to be completed by September, the company said.