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MedQuist Inc. (MEDQ) and CBay Inc. Get Approval for Acquisition of Spheris

Located in Mount Laurel, NJ, MedQuist has grown into a leading provider of medical transcription services and a leader in technology-enabled clinical documentation workflow. Today, MedQuist announced that they have teamed up with their majority shareholder CBay Inc. to purchase substantially all of Spheris Corporation’s assets.

Spheris is a leading global provider of clinical documentation technology and services. Approved by the United States Bankruptcy for the District of Delaware, MedQuist will acquire the assets of Sperhis while CBay will acquire the stock of Spheris India Private Limited, a subsidiary of the parent company. The companies expect the transaction to close some time in April.

Leading the way at MedQuist is Peter Masanotti who serves as the company’s CEO. Masanotti was quoted as saying, “MedQuist is a natural partner for Spheris. 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. 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. MedQuist expects to maintain Spheris’ strong commitment to customer support and service continuity in a seamless transition for current customers.”

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