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MEDQUIST COMPLETES ACQUISITION

 GIBBSBORO, N.J., Dec. 15 /PRNewswire/ -- MedQuist Inc. (NASDAQ: MEDQ) announced today that it has completed the purchase of Credit Consultants, Inc. (CCI), a privately held Ohio-based receivables management company.
 CCI, with annual revenues of approximately $10 million, provides accounts receivable and financial recovery services for about 300 clients in the Ohio area. Its offices are located in Beachwood, Columbus, Cleveland, Cincinnati and Toledo.
 Commenting on the acquisition, MedQuist President and Chief Executive Officer Dick Censits said the joining of CCI with MedQuist establishes a Midwest region for the company's revenue management services and further enhances its health management service product offerings. Censits described the transaction as an important step in MedQuist's strategy to become the premier provider of health management services in the United States.
 Funding for the acquisition and additional working capital was provided with $5 million of senior debt arranged with the Cherry Hill, N.J.-based United Jersey Bank/South, NA, and $7 million of senior subordinated debt arranged with the Chicago-based Heller Financial, Inc.
 In connection with the issue of the senior subordinated debt, the company issued detachable warrants to purchase MedQuist stock, exercisable at $7.50 per share.
 MedQuist provides business and information services to health care providers nationwide. In addition, the company owns and manages a regional medical transport company in the New Jersey/Philadelphia area.
 /delval/
 -0- 12/15/92
 /CONTACT: Patricia Freebern, vice president of corporate relations of MedQuist, 609-782-0300/
 (MEDQ)


CO: MedQuist Inc.; Credit Consultants, Inc. ST: New Jersey, Ohio IN: SU: TNM

CC-LJ -- PH020 -- 4687 12/15/91 13:03 EST
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Publication:PR Newswire
Date:Dec 3, 1992
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