Nuance Communications Inc., of Burlington, Mass., today announced that it has signed an agreement to acquire computer-aided medical transcription solutions provider eScription, of Needham, Mass., for $363 million, a deal that aims to accelerate the growth of its Dictaphone Healthcare division in the clinical documentation market.

The purchase price is comprised of $340 million in cash and $23 million in Nuance common stock, in addition to the assumption of vested employee options with a value of approximately $37 million. The transaction is expected to close in Nuance’s fiscal third quarter.

Nuance anticipates that the acquisition will add $16-$18 million in nongenerally accepted accounting principles (GAAP) revenue in fiscal 2008, and $63-$68 million in fiscal 2009.

According to the companies, they will combine their strengths to deliver scalable, highly productive transcription solutions, as well as transform the way healthcare provider organizations document patient care through future innovations, such as structured reporting.

President Robert Wise, of Nuance’s Healthcare division, foresees a combined revenue of the company’s on-demand medical transcription and clinical documention solutions to be between $175 million and $200 million in fiscal 2009.