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MEDQUIST TO SELL AMBULATORY SURGERY CENTER

 GIBBSBORO, N.J., Nov. 20 ~PRNewswire~ -- MedQuist Inc. (NASDAQ: MEDQ) today announced it has signed a non-binding letter of intent to sell its ambulatory surgery center to its principal shareholder, the Health Care Support Foundation, Inc.
 The transaction is contingent upon several factors, including the signing of a definitive agreement and agreement of sale price by Dec. 31 of this year.
 Closing on the surgery center is anticipated to occur by Oct. 1, 1993, or sooner if MedQuist acquires a new medical receivables management firm with earnings approximating those of its surgery center. This new acquisition would not be the same receivables management company which MedQuist had previously reported it expects to acquire by the end of the year for approximately $10 million.
 MedQuist Inc. has owned and managed Summit Surgical Center in Voorhees, N.J., since 1987. Approximately 7,000 procedures which do not require a hospital stay are performed at the center annually.
 MedQuist president and chief executive officer Richard J. Censits said that the planned sale of the surgery center is part of the company's overall strategy to position itself as a national health management services company.
 ~delval~
 -0- 11~20~92
 ~CONTACT: Patricia Freebern, vice president corporate relations, of MedQuist, 609-782-0300~
 (MEDQ)


CO: MedQuist Inc.; Health Care Support Foundation, Inc. ST: New Jersey IN: HEA SU: TNM

MJ-MP -- PH031 -- 3430 11~20~92 14:17 EST
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Publication:PR Newswire
Date:Nov 20, 1992
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