MOUNT LAUREL, N.J., Aug. 6 /PRNewswire-FirstCall/ -- MedQuist Inc. (Nasdaq: MEDQ) announces that, in accordance with today's closing of the stock purchase agreement between Koninklijke Philips Electronics N.V. and CBaySystems Holdings, in which Philips has sold its approximate 69.5% ownership interest in MedQuist to CBaySystems Holdings, the following members of MedQuist's board of directors have resigned: Clement Revetti Jr., Edward Siegel, Gregory M. Sebasky and Scott M. Weisenhoff. They have been replaced by Robert Aquilina, Frank Baker, Peter Berger and Michael Seedman, who have been designated for election to the board of directors by CBaySystems Holdings pursuant to its Governance Agreement with MedQuist. Additionally, Aquilina has replaced Sebasky as chairman of the board of directors.
According to MedQuist interim president and CEO Mark Ivie, "We sincerely thank the outgoing board members for their service, and welcome the opportunity to work with CBaySystems Holdings' board designees to chart the future of our Company."
Robert M. Aquilina, 52, has served as an executive partner, a senior operating consultant role, to S.A.C. Private Capital Group, LLC (SAC PCG) since 2007. Previously, he served as an industrial partner at Ripplewood Holdings LLC (Ripplewood), held the role of co-chairman of Flag Telecom Group Ltd., and was a board member of Japan Telecom Inc. Prior to these positions, he was a senior operating executive of AT&T Inc., with a 21-year career.
Frank Baker, 35, is a managing director and co-founder of SAC PCG.
Prior to establishing SAC PCG in 2007, he was a managing director at
Ripplewood and RHJ International, where he was responsible for making
various private equity investments and taking RHJ In
|SOURCE MedQuist Inc.|
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