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MedQuist Inc. is set to buy bankrupt medical transcription firm Spheris Inc., sources confirmed to NashvillePost.com this morning.
The New Jersey-based company came out on top in the race to buy Spheris' assets, beating out competitors Transcend Services and Nuance Communications in an auction that apparently lasted through Wednesday night and into this morning.
It is unclear this morning what price MedQuist (Ticker: MEDQ) will actually pay for Spheris. Transcend offered $78.2 million to join the auction.
The Delaware bankruptcy court will hold a hearing at 12 p.m. CST to confirm the sale. As of 9 a.m., the sale order was not available.
http://www.nashvillepost.com/news/2010/4/15/medquist_to_buy_spheris