Spheris Reaches Agreement To Be Acquired By Medquist and Cbay
FRANKLIN, website like this Tenn. — February 03, 2010 — Spheris, a leading global provider of clinical documentation technology and services, today announced that it has entered into an agreement under which MedQuist Inc. and CBay Inc., portfolio companies of CBaySystems Holdings Ltd. and leading providers of medical transcription software and services, have agreed to purchase substantially all of Spheris’ assets pursuant to a transaction that is to be implemented under Section 363 of the United States Bankruptcy Code. In order to commence the sale process, Spheris and certain of its affiliates filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “Court”). 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.
IBM to Acquire Initiate Systems
ARMONK, N.Y., Feb. 3 /PRNewswire-FirstCall/ — IBM ( IBM) today announced it has signed a definitive agreement to acquire Initiate Systems, a market leader in data integrity software for information sharing among healthcare and government organizations. Initiate’s software helps healthcare clients work more intelligently and efficiently with timely access to patient and clinical data. It also enables governments to share information across multiple agencies to better serve citizens.