MedQuist Holdings Adds Independent Director
November 23 2011 - 1:49PM
MedQuist Holdings Inc. (Nasdaq:MEDH), ("the Company"), a leading
provider of integrated clinical documentation solutions for the
U.S. healthcare industry, today announced that its board of
directors has elected Colin J. O'Brien to the board. Mr. O'Brien
replaces Bob Aquilina, who recently voluntarily resigned from the
board with the expressed purpose of enabling the number of
independent directors to increase to five.
"Colin's wide breadth of international executive and director
experience, as well as specific knowledge of our industry as a
result of his prior service on the MedQuist Inc. board of
directors, make him a well-qualified addition to our board," noted
Vern Davenport, Chairman and Chief Executive Officer of MedQuist
Holdings. "With his appointment, we also move closer toward
achieving a majority of independent directors on our board."
Mr. O'Brien served as a member of the MedQuist Inc. board of
directors from September 2008 to March 2011 and served as a member
of the MedQuist Inc. Audit Committee. Mr. O'Brien stepped down from
the board of directors of MedQuist Inc., a subsidiary of the
Company, in connection with MedQuist Inc.'s delisting from NASDAQ
and deregistration from its reporting requirements with the U.S.
Securities and Exchange Commission. Prior to retiring in 2001, Mr.
O'Brien was employed in various positions with Xerox Corporation
from 1992 to 2001, including vice president of Business Development
and Systems Strategy, CEO of Xerox's New Enterprise Board, and
executive chairman of XESystems Inc., a subsidiary of Xerox. In
1986, Mr. O'Brien formed an investment company with E.M. Warburg
Pincus & Co. Inc., making a number of acquisitions in defense
electronics. Prior to that time, Mr. O'Brien served as chairman and
chief executive of Times Fiber Communications Inc., a publicly
traded company, and president of General Instrument's cable
television operations. Mr. O'Brien has held management positions
with Union Carbide in both Canada and Europe, and has served on a
number of public and private boards.
"On behalf of the board, I'd like to thank Bob Aquilina for his
over three years of service to MedQuist, including as Executive
Chairman," stated Mr. Davenport.
About MedQuist Holdings
MedQuist is a leading provider of clinical narrative capture
services, Speech Understanding technology from M*Modal and 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 facilitate adoption of electronic health
records (EHR), improve patient care, increase physician
satisfaction and lower operational costs. For more information,
please visit www.medquist.com.
Forward-Looking Statements
Information provided and statements contained in this press
release that are not purely historical, such as
statements regarding the timing of the majority independence of the
board of directors, are forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, Section 21E
of the Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements only
speak as of the date of this press release and the Company assumes
no obligation to update the information included in this press
release. Statements made in this press release that are
forward-looking in nature may involve risks and uncertainties.
Accordingly, readers are cautioned that any such forward-looking
statements are not guarantees of future performance and are subject
to certain risks, uncertainties and assumptions that are difficult
to predict, including, without limitation, specific factors
discussed herein and in other releases and public filings made by
the Company (including filings by the Company with the SEC).
Although the Company believes that the expectations reflected in
such forward-looking statements are reasonable as of the date made,
expectations may prove to have been materially different from the
results expressed or implied by such forward-looking statements.
Unless otherwise required by law, the Company also disclaims any
obligation to update its view of any such risks or uncertainties or
to announce publicly the result of any revisions to the
forward-looking statements made in this press release.
CONTACT: Investor Contacts:
Ron Scarboro
Chief Financial Officer
ronald.scarboro@medquist.com
(615) 798-4350
Tripp Sullivan
Corporate Communications, Inc.
tripp.sullivan@cci-ir.com
(615) 324-7335
Media Contact:
Thomas Mitchell
Director of Marketing
tmitchell@medquist.com
(615) 798-6630
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