MOUNT LAUREL, N.J., Feb. 22 MedQuist Inc.(Pink Sheets: MEDQ) today announced the appointment of Warren E. Pinckert IIas an independent member of its Board of Directors effective February 15,2007. Mr. Pinckert was also elected to the Board's Audit Committee as itschair and to its Supervisory Committee.
Mr. Pinckert was the CEO of Cholestech Corporation, a medical devicecompany, from 1993 until its acquisition in 2007. Before joining Cholestech,he served as CFO of Sunrise Medical, a durable medical equipment manufacturer.Mr. Pinckert also served as a member of the board of directors of PacifiCareHealth Systems, a managed care company, until its acquisition in 2005. AtPacifiCare, he chaired that board's audit committee and served as a member ofits compensation and executive committees.
Steven H. Rusckowski, chairman of the Company's Board of Directors, saidof Mr. Pinckert's appointment, "I speak for the entire Board and the Companywhen I say how pleased we are about Warren joining the MedQuist Board. Hebrings with him significant and meaningful experience in the area ofhealthcare. His election to the Board is yet another significant achievementfor our Company as well. Since the extraordinary MedQuist team effort ofbecoming current in our SEC filings in 2007, we have successfully recruited toour Board three highly-qualified independent directors, two of whom representsignificant holdings in our Company and all of whom are focused on creatingvalue for all of our shareholders. With the election of three independentdirectors to our Audit Committee, we are now able to pursue simultaneously ourNASDAQ listing and, as also previously announced, a review of strategicalternatives and evaluation of whether a sale of the Company would be in thebest interests of the Company and its shareholders."
MedQuist is a leading provider of clinical documentation workflowsolutions in support of the electronic health record. MedQuist provideselectronic medical transcription, health information and document managementproducts and services, including digital dictation, speech recognition, Web-based transcription, electronic signature, medical coding, mobile dictationdevices, and outsourcing services.
Disclosure Regarding Forward-Looking Statements:
Some of the statements in this press release constitute "forward-lookingstatements" within the meaning of the U.S. Private Securities LitigationReform Act of 1995. These statements are not historical facts but rather arebased on the Company's current expectations, estimates and projectionsregarding the Company's business, operations and other factors relatingthereto. Words such as "may," "will," "could," "would," "should,""anticipate," "predict," "potential," "continue," "expects," "intends,""plans," "projects," "believes," "estimates" and similar expressions are usedto identify these forward-looking statements. The forward-looking statementscontained in this press release include, without limitation, statements aboutthe Company's application for listing on NASDAQ as well as the Company'sreview of strategic alternatives and possible sale of the Company. Thesestatements are only predictions and as such are not guarantees of futureperformance and involve risks, uncertainties and assumptions that aredifficult to predict, including, without limitation, the risk that theCompany's application for listing on NASDAQ is not approved or completed, therisk that the Company does not enter into any strategic transaction and therisk that no sale of the Company occurs. For a discussion of these risks,uncertainties and assumptions, any of which could cause our actual results todiffer from those contained in the forward-looking statement, see the sectionof MedQuist Annual Report on Form 10-K for the year ended December 31, 2006,entitled "Risk Factors" and discussions of potential risks and uncertaintiesi