The Firm is representing S.A.C. Private Capital Group (SAC PCG) in connection with its announced majority investment, together with Lehman Brothers Commercial Corporation Asia Limited, in CBaySystems Holdings Limited (CBay), a medical transcription company listed on the AIM stock exchange in London. CBay will use the proceeds of the new equity investment to acquire approximately 69.5% of the outstanding common stock of MedQuist Inc. (MEDQ.PK) from affiliates of Koninklijke Philips Electronics N.V for $285 million.
MedQuist is the largest medical transcription service organization in the world, and a leader in technology-enabled clinical documentation workflow. SAC PCG is a recently formed private equity group affiliated with S.A.C. Capital Advisors, which is a multi-strategy, asset management firm with more than $14 billion under management.
The Simpson Thacher team working on this transaction includes James Wallace, Kevin Lehpamer, Vijay Sekhon, Yueting Liang and Markus Lotz (M&A), Gil Strauss and Jeffrey Joseph (Securities), Jamin Koslowe and Beth Understahl (Employee Benefits/Executive Compensation), Charles Rappaport and Jenifer Marsh (Tax), Lori Lesser and Ivan Rothman (Intellectual Property), Arman Oruc and Bill Kearney (Antitrust), Timothy Mulvihill and Noreen Lavan (Environmental), Andrew Janis (Labor) Krista McManus (Real Estate), summer associate Margaret Rubin and paralegal Jamie Ko.