MedQuist Signs Financing Agreements; Declares Special Dividend

MedQuist Inc. (Nasdaq: MEDQ), a leading provider of integrated clinical documentation solutions for the U.S. healthcare industry, announced today that it has entered into definitive agreements relating to a $310 million financing consisting of a $225 million senior secured credit facility and the issuance of $85 million of senior subordinated notes.

The $225 million senior secured credit facility is led by General Electric Capital Corporation, as administrative agent, and SunTrust Bank, as syndication agent. The facility consists of a $200 million term loan and a $25 million revolving credit facility bearing an interest rate of LIBOR + 550 basis points and a LIBOR floor of 1.75%. In addition, the revolving credit facility bears a fee of 50 basis points on undrawn amounts. The 13% senior subordinated notes due 2016 are to be issued pursuant to a note purchase agreement with BlackRock Kelso Capital Corporation, PennantPark Investment Corporation, Citibank, N.A., and THL Credit, Inc. in an aggregate principal amount of $85 million.

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Virtual Radiologic and NightHawk Radiology Announce Merger

Virtual Radiologic (vRad), a national radiology practice and leader in the development of radiologist workflow technology, and NightHawk Radiology (Nasdaq: NHWK), a leading provider of radiology solutions to radiology groups across the United States, today announced that they have entered into a definitive agreement under which vRad will acquire all of the outstanding common stock of NightHawk Radiology Holdings, Inc. for $6.50 per share in cash. The offer price represents a premium of 100% over NightHawk's last closing stock price of $3.25 per share. The transaction is valued at approximately $170 million.

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Ramius Commences Cash Tender Offer for Cypress Bioscience at $4.25 Per Share

Ramius Value and Opportunity Advisors LLC, a subsidiary of Ramius LLC (collectively, "Ramius"), today announced that it commenced a tender offer, through a wholly owned subsidiary, to acquire all of the outstanding shares of common stock of Cypress Bioscience, Inc. ("Cypress" or "the Company") (Nasdaq: CYPB) for $4.25 per share in cash. This offer represents a 70% premium over the $2.50 closing price of Cypress' stock on July 16, 2010, the last trading day before Ramius publicly announced its proposal to acquire the Company for $4.00 per share in cash.

Ramius Partner Managing Director Jeffrey C. Smith stated, "The Cypress Board rejected our earlier offer to negotiate an acquisition of the Company for $4.00 per share. Given the Board's continuing refusal to negotiate with us, we are taking our offer directly to the true owners of Cypress, the stockholders.

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SUNNYVALE, CA - September 2, 2010 (Investorideas.com Newswire) – HealthMed Services Ltd. (OTC.BB:HEME), an innovative software development company, is pleased to announce that it has entered final negotiations to acquire all rights, title and interest to Neural Communicator software and hardware.

 

Neural Communicator has developed brain/computer interface devices and software designed to enable people with extreme disabilities to communicate. The device detects eye movement, jaw contractions and ALPHA and BETA brain waves allowing hands free input.

 

Neural Communicator is intended for people disabled in such a way that they cannot communicate by speech or by using their body. Biofeedback is used for computer input and controlling the application features.

Read more: Healthcare Technology Stocks; HealthMed Services (OTC.BB:HEME) to Acquire Neural Communicator

Ebix to Acquire Atlanta Based, Leading Health Technology Services Company A.D.A.M.

Combined Company will have a Powerful Health Information and Services Exchange for Employers, Benefits Brokers, Hospitals, Healthcare Organizations and Consumers

--Ebix Expects the Merger to be Immediately Accretive and Generate 15 cents of Additional Diluted EPS in Year One

Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today announced that it has signed a merger agreement with Atlanta based A.D.A.M., Inc. (NASDAQ: ADAM), a leading provider of health information and benefits technology solutions in the United States. Ebix will acquire A.D.A.M. on a debt-free basis for aggregate merger consideration of $66 million.

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