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MedQuist Holdings Completes Short-Form Merger for Remaining MedQuist Inc. Shares

FRANKLIN, Tenn., Oct. 19, 2011 (GLOBE NEWSWIRE) -- MedQuist Holdings Inc. (Nasdaq:MEDH), (the "Company") a leading provider of integrated clinical documentation solutions for the U.S. healthcare industry, today announced that it has completed the previously announced short-form merger with MedQuist Inc., resulting in MedQuist Inc. becoming an indirect wholly-owned subsidiary of the Company and MedQuist Inc. common stock no longer trading on the OTCQB or on any other market.

The Company intends to cause MedQuist Inc. to file a Form 15 with the Securities and Exchange Commission (the "SEC") to deregister MedQuist Inc.'s common stock under the Securities Exchange Act of 1934. As a result of the filing, MedQuist Inc.'s obligation to file certain reports and forms with the SEC, including Forms 10-K, 10-Q and 8-K, will be immediately suspended. The Company expects that the deregistration will become effective 90 days after filing or such shorter period as the SEC may determine.

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 the timing of the deregistration of MedQuist Inc.'s common stock, 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: 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
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