MedQuist Holdings prices initial public offering of common stock at $8.00 per share

MedQuist Holdings Inc., formerly CBaySystems Holdings Limited, a leading provider of integrated clinical documentation solutions for the U.S. Healthcare system, today announced the pricing of its U.S. initial public offering of 4,500,000 shares of its common stock at a price to the public of $8.00 per share. The shares are expected to begin trading on February 4, 2011, on The NASDAQ Global Market under the ticker symbol MEDH. The closing of the offering is scheduled to take place on February 9, 2011.

In the offering, MedQuist Holdings Inc. will sell 3,000,000 shares, and selling stockholders will sell 1,500,000 shares. The underwriters have a 30-day option to purchase up to 675,000 of additional common shares from the selling stockholders at the initial public offering price less the underwriting discount.

MedQuist Holdings Inc. intends to use the net proceeds that it receives from this offering for working capital and other general corporate purposes, including potential acquisitions. MedQuist Holdings Inc. will not receive any proceeds from the sale of shares by the selling stockholders.

Lazard Capital Markets LLC, Macquarie Capital (USA) Inc. and RBC Capital Markets, LLC are acting as bookrunning managers for the initial public offering, and Loop Capital Markets LLC is acting as co-manager.

A registration statement relating to the shares of common stock issued in the offering has been filed with, and declared effective by, the Securities and Exchange Commission (the "SEC"). A final prospectus relating to the offering will be filed with the SEC. Copies of the final prospectus, when available, may be obtained from Lazard Capital Markets LLC at 30 Rockefeller Plaza, 60th Floor, New York, NY, 10020, Attention: Syndicate Department, via telephone at (800) 542-0970, or from Macquarie Capital (USA) Inc., Attention: Prospectus Department, 125 West 55th Street, 22nd Floor, New York, NY 10019, email: [email protected], via telephone at (212) 231-6112, or from the SEC's website at www.sec.gov.