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Novant Health Completes Purchase of MedQuest
Date:11/9/2007

WINSTON-SALEM, N.C. and ALPHARETTA, Ga., Nov. 9 /PRNewswire/ -- MQ Associates, Inc. ("MedQuest"), a national provider of diagnostic imaging services, officially joined Novant Health today as the two companies closed the previously announced acquisition. MedQuest will operate as a wholly-owned subsidiary of Novant.

Novant Health is a not-for-profit integrated healthcare system serving North and South Carolina. It consists of an 800-physician medical group and eight hospitals. MedQuest is a for-profit diagnostic imaging company that owns and operates 92 outpatient centers in 13 states, two-thirds of which are located in the immediate five-state region of North Carolina, South Carolina, Georgia, Virginia and Tennessee.

MedQuest centers offer diagnostic imaging services, such as magnetic resonance imaging (MRI), computed tomography (CT), nuclear medicine, ultrasound, mammography, bone densitometry, fluoroscopy and x-ray. Some MedQuest's centers are located in or near communities that Novant already serves such as Charlotte, Concord, Fort Mill, Monroe, Mooresville, Winston- Salem, Greensboro, Durham and Wilmington.

"One of Novant's goals is to provide primary healthcare services closer to where residents live," explained Paul Wiles, president and CEO of Novant Health. "MedQuest centers have been achieving that same goal by delivering excellent service to patients and physicians."

MedQuest CEO, Chris Winkle, emphasized that both organizations have much in common. "We have worked extremely hard to build a service-oriented company," said Winkle. "Novant also has the same passion for providing the best experience possible for patients, families and doctors in their local communities."

Novant purchased MedQuest for $45 million, and immediately after the purchase MedQuest will continue to have approximately $369 million of debt outstanding. If MedQuest achieves agreed upon financial metrics during 2008, Novant will pay up to an additional $
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SOURCE MQ Associates, Inc.
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