MedQuist secures financing deals

AuntMinnie.com staff writers
Sep 30, 2010

Speech recognition and transcription technology provider MedQuist of Mount Laurel, NJ, has entered into definitive agreements for $310 million in financing.

The agreements include a $225 million senior secured credit facility led by General Electric Capital of Stamford, CT.

Proceeds from the financing will be used to refinance the debt incurred by MedQuist in connection with its April acquisition of the U.S. business of Spheris of Franklin, TN, and to pay a one-time special cash dividend of $4.70 per share to all MedQuist shareholders of record, as of October 11.

Related Reading

MedQuist awarded CHCA contract, August 25, 2010

MedQuist pays Kaiser $2M to settle lawsuit, August 24, 2010

MedQuist sales slip, net income rises, May 12, 2010

MedQuist completes Spheris acquisition, April 26, 2010

MedQuist revenues dip in 2009, March 15, 2010

Copyright © 2010 AuntMinnie.com

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