Outsourced medical transcription vendor MedQuist Inc. Mt. Laurel, N.J., will acquire the domestic business of rival Spheris Inc., while CBay Inc., MedQuist's owner, will buy Spheris' India operations.
Terms of the acquisition were not disclosed. As part of the deal, Franklin, Tenn.-based Spheris has voluntarily filed for Chapter 11 bankruptcy protection. The process will include a court-supervised auction to solicit competitive bids from other entities. If the MedQuist/CBay offers are approved, the companies expect to close the acquisitions in the first half of 2010.
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