American NorTel Buys Stake in MedCom USA

A Scottsdale, Ariz., provider of telephone and fax communications services has acquired a 5.6% ownership position in MedCom USA Inc., an Irvine medical communications business, both companies said Friday.

American NorTel Communications Inc., though, did not reveal in a filing with the Securities and Exchange Commission the price it paid to buy its 1.3 million shares. Earlier this month, NorTel announced a similar investment in PTN Media Inc., an Internet publisher.

MedCom focuses on providing solutions for electronically processing transactions within the health care industry. NorTel’s president, William P. Williams Jr., said MedCom is “well-positioned to be the leader in medical business-to-business and business-to-consumer applications.”