Thursday, May 22, 2008

MedQuist buyout

MedQuist is changing hands. Philips has announced that it is selling its 69.5 percent stake in MedQuist to US based CBAY for about $285 million which should be completed shortly.

I think Philips may have got the short end of the stake on this one considering they paid $1.2 billion for a stake of about 60 percent in MedQuist in 2000.

Sources say this should be a fairly easy transition and will not shake much up within the company. Thank god, things have been whacky lately, hopefully this wont make it more so.

Rest of the story here


Anonymous said...

Where did you get the misguided idea CBay is U.S. based? CBay has an office in Annapolis, MD, but their corporate headquarters is in Mumbai, India. CBay has 38 medical transcription outsourcing centers across 10 states in India and one each in Oman and Bhutan. I think they want to create the illusion that they are based in the U.S. because they are concerned about security and privacy issues related to protected health information and possible future U.S. protective legislation.

Bloggin' Momma said...

I got the information from Reuters in the article I quoted. Maybe US based was the wrong word and I should have said US peer like they did.

yaashini said...

just linked this article on my facebook account. it’s a very interesting article for all.
medical transcriptions