MedQuist Holdings and MModal to Merge; Sees Integration Costs $13M; Total Consideration $130M

MedQuist Holdings Inc.

, a leading provider of integrated clinical documentation solutions for the U.S. healthcare system, announced the signing of a definitive agreement to acquire MModal and its advanced Speech Understanding technology for total consideration of $130 million. The transaction is subject to customary closing conditions, including review under the Hart-Scott-Rodino Act, and is expected to close prior to the end of the third quarter of 2011.