medical billing transcription supplier information

MedQuist Inc. (NASDAQ: MEDQ), the leading provider of electronic transcription and medical document management solutions, today announced its acquisition of Lernout & Hauspie Medical Solutions Holdings, Inc., the third largest medical transcription company in the United States.

Consideration for this stock transaction was roughly $25 million cash.

L&H's medical transcription division has approximately 1,000 employees located throughout the country with headquarters located in Madison, WI. On October 29th, the U.S. bankruptcy court approved MedQuist as the highest auction bidder for L&H's medical transcription division. On Monday of this week, the Belgian bankruptcy court approved the transaction, clearing the way for the closing of the acquisition.

"MedQuist's acquisition of L&H's transcription business enhances our medical transcription service offering," stated David Cohen, MedQuist's Chairman and CEO. "We are very excited about adding L&H's talented transcriptionists and management to the MedQuist team."

MedQuist is the largest electronic medical transcription service company in the United States.

Other than historical information set forth herein, this press release contains forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ materially from those anticipated or implied in any such forward-looking statements as a result of various risks, including, without limitation, inability to manage and maintain growth; and inability to successfully integrate this acquisition. Additional risks associated with the Company's business can be found in its most recent filing of its annual report on Form 10-K and other periodic filings with the SEC.

# posted by Medical Information : 4:24 AM