2/14/2023 0 Comments Cbay transcriptions![]() MedQuist (Nasdaq: MEDQ) is a leading provider of medical transcription services, and a leader in technology-enabled clinical documentation workflow. MedQuist's financial advisors were Lazard and Piper Jaffray & Co., and its legal counsel was Wachtell, Lipton, Rosen & Katz. Its restructuring advisor was Capstone Advisory Group and its legal counsel was Willkie Farr & Gallagher. I would also like to thank the dedicated employees of Spheris for their continuing commitment and focus on serving our customers."Īccess to Court documents and other general information about Chapter 11 cases is available at Spheris' financial advisor was Jefferies & Company, Inc. ![]() We expect a smooth transition and we appreciate our customers' continued support. Tony James, Chief Operating Officer of Spheris, added, "We are confident that this transaction advances the interests of our customers by transitioning Spheris' assets to an entity with greater financial flexibility. In addition, as a result of this transaction, Spheris will be part of a stronger, more competitive company, and we believe this is a positive outcome for Spheris, our employees, customers and other stakeholders." We believe this transaction will help us reach that goal. "As was our goal from the outset, we want to maximize recoveries for our stakeholders. "We are pleased to receive Court approval of this transaction," said Robert Butler, Chief Restructuring Officer of Spheris. MedQuist expects to maintain Spheris' strong commitment to customer support and service continuity in a seamless transition for current customers." We believe that Spheris' customers will also benefit from MedQuist's extensive suite of services and technologies, experience, knowledge, and culture of best-in-class service. "Spheris' customers can look forward to receiving the same great service and outstanding quality from a company with a strong financial position, which will allow for increased investment in the business. "MedQuist is a natural partner for Spheris," said Peter Masanotti, MedQuist CEO. The Companies expect the transaction to close in April. in an aggregate principal amount of $17,500,000. The purchase price is $98,833,900 in cash and an unsecured subordinated promissory note issued by MedQuist Transcriptions, Ltd. assets and CBay will acquire the stock of Spheris India Private Limited, a subsidiary of Spheris. Under the terms of the sale, MedQuist will acquire Spheris' U.S. ![]() (Nasdaq: MEDQ) and its majority shareholder CBay Inc., leading providers of technology-enabled clinical documentation services and Spheris, a leading global provider of clinical documentation technology and services, today announced that the United States Bankruptcy Court for the District of Delaware has approved the sale of substantially all of Spheris' assets to MedQuist Inc. and FRANKLIN, Tenn., April 15 /PRNewswire-FirstCall/ - MedQuist Inc.
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