Navigation Links
MedQuist Announces Establishment of Revolving Credit Facility and Payment of Special Cash Dividend

MOUNT LAUREL, N.J., Sept. 2 /PRNewswire-FirstCall/ -- MedQuist Inc. (Nasdaq: MEDQ) today announced it has entered into a five-year $25 million revolving credit facility. The credit facility provides committed revolving funding through August 2014 and includes an option whereby the Company may increase its maximum credit up to $40 million, based on certain terms and conditions. The credit facility is a working capital facility that may be used for general corporate purposes. The Company does not currently anticipate borrowing under the credit facility.

Separately, the MedQuist Board of Directors, at a meeting held on August 27, 2009, unanimously declared a special cash dividend of $1.33 per share on MedQuist's common stock. The dividend will be paid on September 15, 2009 to shareholders of record as of the close of business on September 9, 2009. While the analysis of the tax impact of the dividend has not been completed, the Company expects a significant portion of the distribution will not be a taxable dividend for U.S. income tax purposes.

Robert Aquilina, Chairman of the Board, stated, "In declaring this special cash dividend, the Board considered the Company's financial position, earnings, earnings outlook, capital spending plans and other relevant factors. The Board continues to explore opportunities to enhance returns on shareholder equity."

About MedQuist:

MedQuist is a leading provider of medical transcription services, and a leader in technology-enabled clinical documentation workflow. MedQuist's enterprise solutions -- including mobile voice capture devices, speech recognition, Web-based workflow platforms, and global network of medical editors -- help healthcare facilities improve patient care, increase physician satisfaction, and lower operational costs. For more information, please visit

Disclosure Regarding Forward-Looking Statements:

Some of the statements in this press release constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are not historical facts but rather are based on the company's current expectations, estimates and projections regarding the company's business, operations and other factors relating thereto. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are used to identify these forward-looking statements. The forward-looking statements contained in this press release include, without limitation, statements about borrowing under the credit facility, and the timing and tax treatment of the payment of the declared dividend. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, including, without limitation, the possibility that the Company may need to borrow under the credit facility, and the risk that the tax treatment and the timing of the payment of the declared dividend may be modified. For a discussion of these risks, uncertainties and assumptions, any of which could cause our actual results to differ from those contained in the forward-looking statement, see the section of the company's Annual Report on Form 10-K for the year ended December 31, 2008, entitled "Risk Factors" and discussions of potential risks and uncertainties in the MedQuist's subsequent filings with the Securities and Exchange Commission.

SOURCE MedQuist Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. MedQuist Re-launches New, Improved Web Site
2. MedQuist Updates Status of Outstanding SEC Filings
3. MedQuist and MedAssets Sign Multi-Year Contract for Clinical Documentation Workflow Solutions
4. MedQuist Evaluating Whether a Sale of the Company is in the Best Interests of the Company and its Shareholders
5. MedQuist Files Preliminary Proxy Statement and Applies for Listing on NASDAQ
6. MedQuist Announces Appointment of Brian ODonoghue and Mark E. Schwarz to its Board of Directors
7. Leading Arizona Radiological Group Selects MedQuist for Speech Recognition Solution
8. MedQuist Announces Entry Into Settlement Term Sheet Resolving South Broward Litigation
9. MedQuist Technology Solutions to Power Documentation Workflow at New England Facility
10. MedQuist to Get New Majority Stakeholder
11. MedQuist Announces Dismissal of South Broward Litigation and Appointment of New Interim President & CEO
Post Your Comments:
(Date:11/27/2015)... ... , ... There is only one major question facing all law firms in ... question has not been an easy question to answer. Especially when the senior partners ... workforce don’t share the same discipline around working long hours. , In addition ...
(Date:11/27/2015)... ... ... According to an article published November 15th by ABC News, ... in light of the recent terrorist attacks in Paris, other cities are taking extra ... from reaching U.S. soil. Especially around special events that may be high-profile in nature, ...
(Date:11/27/2015)... ... 27, 2015 , ... An inventor, from Hopkinsville, Ky., thought ... at home, so he invented the patent-pending ELECTRONIC M.D. , The ELECTRONIC M.D. ... doing so, it could help to prevent potential overdose situations. As a result, ...
(Date:11/27/2015)... ... November 27, 2015 , ... The print ... USA Today in Atlanta, Dallas, New York, Minneapolis, South Florida, with a circulation ... is distributed nationally, through a vast social media strategy and across a network ...
(Date:11/27/2015)... (PRWEB) , ... November 27, 2015 , ... ... motto of progress through sharing, the 2016 Building Better Radiology Marketing Programs ... conference will begin on Sunday, March 6, 2016, at Caesars Palace in Las ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... November 26, 2015 ... the "2016 Future Horizons and Growth ... Testing Market: Supplier Shares, Country Segment Forecasts, ... their offering. --> ) ... "2016 Future Horizons and Growth Strategies in ...
(Date:11/26/2015)... 2015 ... the  "2016 Future Horizons and Growth ... Monitoring (TDM) Market: Supplier Shares, Country ...  report to their offering.  --> ... addition of the  "2016 Future Horizons ...
(Date:11/26/2015)... 26, 2015 ... of the  "2016 Future Horizons and ... Surface Marker Testing Market: Supplier Shares, ... their offering.  --> ... the  "2016 Future Horizons and Growth ...
Breaking Medicine Technology: