MedQuist's Majority Owner Files Form S-1 and Form S-4 Registration Statements

MOUNT LAUREL, N.J., Oct. 18 /PRNewswire-FirstCall/ -- MedQuist Inc. (Nasdaq: MEDQ), a leading provider of integrated clinical documentation solutions for the U.S. healthcare industry announced that, earlier today, CBaySystems Holdings Limited, the parent of CBay, Inc, the holder of 69.5% of the outstanding common stock of MedQuist, filed a Registration Statement on Form S-1 ("S-1 Registration Statement") relating to the proposed initial public offering of shares of its common stock in the United States.  The S-1 Registration Statement discloses certain information regarding MedQuist which is addressed in a current report on Form 8-K that MedQuist filed today with the United Stated Securities and Exchange Commission (the "SEC").

MedQuist also announced that, earlier today, CBaySystems Holdings Limited filed a Registration Statement on Form S-4 ("S-4 Registration Statement") with the SEC relating to a proposed exchange offer pursuant to which CBaySystems Holdings Limited expects to offer to exchange shares of CBaySystems Holdings Limited common stock for outstanding shares of MedQuist common stock. MedQuist will not be a party to the proposed exchange offer.

CBaySystems Holdings Limited has informed MedQuist that inquiries related to the S-1 Registration Statement, S-4 Registration Statement, CBaySystems Holdings Limited's proposed initial public offering of shares of its common stock in the United States or the proposed exchange offer should be directed to:

Statements made in this press release that are forward-looking in nature are intended to be "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risk and uncertainties.  These risks and uncertainties include the risk that the transactions described herein will not occur.  Other risks and uncertainties relating to our business and our financial condition are more fully described in documents filed by MedQuist with the SEC, including Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q.  

SOURCE MedQuist Inc.

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