Spheris to be Acquired by MedQuist and CBay

In an press release issued this week, Spheris announced that it has agreed for MedQuist and CBay, Inc. to purchase Spheris’ assets under Section 363 of the U.S. Bankruptcy code. According to the official Spheris press release, “The company expects its operations to continue as usual during the restructuring process. Spheris India, a subsidiary of the Company, will be part of the prospective transaction but will not file for bankruptcy.”

This news generated some questions from the medical transcription factoring specialists at PRN Funding–Namely, if this agreement goes through from a national perspective, is it beginning of a monopoly in the transcription industry?

One Response to “Spheris to be Acquired by MedQuist and CBay”

  1. » Transcription Battle over Spheris Says:

    […] In February, the nation’s second largest medical transcription provider, Spheris, filed for Chapter 11 bankruptcy protection and filed documents¬† stating that it would sell its American and Canadian assets to MedQuist, Inc. If the sale were to go through, MedQuist would become the America’s largest medical transcription provider. […]