MEDQUIST SIGNS DEFINITIVE AGREEMENT
MEDQUIST SIGNS DEFINITIVE AGREEMENT GIBBSBORO, N.J., Oct. 5 /PRNewswire/ -- MedQuist Inc.
(NASDAQ: MEDQ), a national health management company which provides business and information services to health care providers, announced today that it has signed a definitive agreement to purchase the assets of a privately held receivables management firm that will become part of its business services division.
Closing of the transaction is contingent upon completion of financing and due diligence. MedQuist said it expects to pay about $10 million for the company whose current gross annual revenues are approximately $10 million. Richard J. Censits, MedQuist president and chief executive officer, said: "This transaction is another step in the company's strategy to expand its health management services through the acquisition of quality receivables management companies strategically located throughout the United States." Terms of the agreement are subject to non-disclosure and confidentiality provisions. /delval/ -0- 10/5/92 /CONTACT: Patricia Freebern, vice president-corporate relations of MedQuist, 609-782-0300/ (MEDQ) CO: MedQuist Inc. ST: New Jersey IN: SU:
CC-MP -- PH031 -- 6644 10/05/92 13:48 EDT
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|Date:||Oct 5, 1992|
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