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MQ Associates, Inc. Announces Expiration of its Tender Offers for its 12 1/4% Senior Discount Notes Due 2012 (CUSIP No. 55345RAC2) and Medquest, Inc.'s 11 7/8% Senior Subordinated Notes Due 2012 (CUSIP No. 58505DAD1)

ALPHARETTA, Ga., Dec. 13 /PRNewswire/ -- MQ Associates, Inc. ("MQ Associates" or the "Company"), and MedQuest, Inc., a wholly owned subsidiary of MQ Associates ("MedQuest"), announced today that it completed its tender offers (the "Tender Offers") to purchase (i) any and all of the outstanding $136 million aggregate principal amount at maturity of 12 1/4% Senior Discount Notes due 2012 (CUSIP No. 55345RAC2) (the "Discount Notes") issued by MQ Associates and (ii) any and all of the outstanding $180,000,000 principal amount of 11 7/8% Senior Subordinated Notes due 2012 (CUSIP No. 58505DAD1) (the "Subordinated Notes" and collectively with the Discount Notes, the "Notes") issued by MedQuest.

The Tender Offers were made solely to fulfill the Company's and MedQuest's obligations under the respective indentures governing the Notes following the Company's merger with Novant Health, Inc., a North Carolina nonprofit corporation. The Tender Offers, which commenced on November 12, 2007, expired at 8:00 a.m., New York City time, on Wednesday, December 12, 2007 (the "Expiration Date"). The Company paid for all Discount Notes and MedQuest paid for all Subordinated Notes delivered, in each case, pursuant to the Tender Offers on Thursday, December 13, 2007.

As of the Expiration Date, $835,000 in aggregate principal amount of the Discount Notes representing approximately 0.61% of the then outstanding Discount Notes had been delivered for repurchase, and $2,832,000 in aggregate principal amount of the Subordinated Notes representing approximately 1.6% of the then outstanding Subordinated Notes had been delivered for repurchase pursuant to the Tender Offers. All Discount Notes and Subordinated Notes validly delivered and not withdrawn with respect to the Tender Offers were accepted for payment.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offering, solicitation or sale would be unlawful.

Forward Looking Statements

This press release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, statements regarding MQ Associates' future growth and profitability, growth strategy and trends in the industry in which it operates. These forward-looking statements are based on MQ Associates' current expectations and are subject to a number of risks, uncertainties and assumptions. MQ Associates can give no assurance that such forward-looking statements will prove to be correct. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are the recently closed merger with Novant, general economic and business conditions, the effect of healthcare industry trends on third-party reimbursement rates and demand for its services, limitations and delays in reimbursement by third- party payors, changes in governmental regulations that affect its ability to do business, actions of its competitors, introduction of new technologies, risks associated with its acquisition strategy and integration costs, and the additional factors and risks contained in MQ Associates' Annual Report on Form 10-K for the year ended December 31, 2006, as well as its other periodic reports filed with the SEC. MQ Associates undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as otherwise required by law.

MedQuest is a leading operator of independent, fixed-site, outpatient diagnostic imaging centers in the United States. MedQuest centers provide high quality diagnostic imaging services using a variety of technologies including magnetic resonance imaging (MRI), computed tomography (CT), nuclear medicine, general radiology, bone densitometry, ultrasound and mammography. MedQuest operates a network of 92 centers in 13 states located primarily throughout the southeastern and southwestern United States.

SOURCE MQ Associates, Inc.
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