Spheris to sell assets to MedQuist, CBay for more than $116 million

By Lisa Kerner

Charlotte, N.C., April 15 - Spheris Inc.'s assets will be sold to stalking horse bidder MedQuist Inc. and CBay Inc. for $116,333,900, including cash consideration of $98,833,900.

The sale was approved at a hearing on Thursday, according to a filing with the U.S. Bankruptcy Court for the District of Delaware.

No back-up bid was designated following the auction on Wednesday and Thursday.

Spheris is a Franklin, Tenn.-based outsource provider of clinical documentation technology and services to health systems, hospitals and group medical practices throughout the United States. The Chapter 11 case number is 10-10352.

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