Corporate Updates

Cbay buys Philips

Healthcare BPO firm Cbay Systems has acquired nearly 70% in medical transcription firm MedQuist from Koninklijke Philips Electronics N.V for US$ 287 million. The transaction is being part financed by a fresh equity investment of US$ 123 million in Cbay Systems by Lehman Brothers and SAC Private Capital Group. The investment will give them a 57.8% stake in the AIM-listed Cbay. “We believe that it is a highly-accretive transaction to Cbay sharedholders from 2009. Cbay was the largest player in medical transcription after MedQuist and Spheris

Follow and connect with us on Facebook, Twitter, LinkedIn, Elets video

Eletsonline News

Follow us on

Most Popular

200000+ Subscribers read it every day.
Subscribe Newsletter
To Top