FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Expires: February 28, 2011
Estimated average burden
hours per response... 0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

MedQuist Holdings Inc. 		2. Issuer Name and Ticker or Trading Symbol

MEDQUIST INC [ MEDQ ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

9009 CAROTHERS PARKWAY,  		3. Date of Earliest Transaction (MM/DD/YYYY)

2/11/2011
(Street)

FRANKLIN, TN 37067
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, no par value   2/11/2011     J (1)    4782159   A   (1) 30867245   I   See footnotes   (2) (3)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Explanation of Responses:
( 1)  On September 30, 2010, CBaySystems Holdings Limited entered into an Exchange Agreement (as amended, the "Exchange Agreement") with certain investors (the "Investors") holding shares of MedQuist Inc. In connection with its U.S. initial public offering, CBaySystems Holdings Limited redomiciled in Delaware and was renamed "MedQuist Holdings Inc." On February 11, 2011, pursuant to the Exchange Agreement, MedQuist Holdings Inc. issued 4,782,159 shares of its common stock to the Investors in exchange for 4,782,159 shares of MedQuist Inc. common stock, which shares are directly held by CBay Inc.
( 2)  As of the date of this filing, CBay Inc. holds 30,867,245 shares of MedQuist Inc. common stock, or approximately 82.2% of the shares outstanding, and has voting and dispositive authority over such shares. CBay Inc. is wholly owned (directly and through another subsidiary) by MedQuist Holdings Inc. S.A.C. PEI CB Investment, L.P. ("SAC CBI") and its affiliates no longer hold a majority of the outstanding shares of MedQuist Holdings Inc. S.A.C. PEI CB Investment GP, Limited ("SAC CBI GP") is the general partner of SAC CBI; S.A.C. Private Equity Investors, L.P. ("SAC PEI") is the sole shareholder of SAC CBI GP; S.A.C. Private Equity GP, L.P. ("SAC PEI GP") is the general partner of SAC PEI; S.A.C. Capital Management, LLC ("SCM") is the general partner of SAC PEI GP; and Mr. Steven A. Cohen controls SCM.
( 3)  Messrs. Peter Berger, Frank Baker, Robert Aquilina and Michael Seedman are directors of MedQuist Inc. and of MedQuist Holdings Inc. Messrs. Berger and Baker are Managing Directors of S.A.C. Private Capital Group, LLC ("SAC PCG"). Mr. Aquilina is Chairman and Chief Executive Officer of MedQuist Holdings Inc., and also serves as an executive partner, a senior operating consultant role, to SAC PCG. Mr. Seedman is a director and Chief Technology Officer of MedQuist Holdings Inc., and also serves as an executive partner, a senior operating consultant role, to SAC PCG.

Remarks:
In accordance with Instruction 5(b)(iv), the entire amount of the MedQuist Inc. common stock held by CBay Inc. is reported herein.
Each of the Reporting Persons expressly disclaims beneficial ownership of the securities reported herein except to the extent of such
Reporting Person's pecuniary interest therein, if any, and the filing of this report shall not be deemed an admission that any of
the Reporting Persons is the beneficial owner of any such securities for purposes of Section 16 of the Securities Exchange Act of 1934
or for any other purposes. Any disclosures made by a Reporting Person herein with respect to persons or entities other than such
Reporting Person are made on information and belief after making inquiry to the appropriate party. Each of the Reporting Persons is
responsible for the completeness and accuracy of the information concerning him or it contained herein, but is not responsible for
the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe
that such information is inaccurate.


Exhibit 99.1 - Joint Filer Information

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
MedQuist Holdings Inc.
9009 CAROTHERS PARKWAY
FRANKLIN, TN 37067 		X X

CBay Inc.
C/O MEDQUIST HOLDINGS INC.
9009 CAROTHERS PARKWAY
FRANKLIN, TN 37067 		X X

S.A.C. PEI CB Investment, L.P.
C/O WALKERS CORPORATE SERVICES LIMITED
WALKER HOUSE 87 MARY STREET
GEORGE TOWN, GRAND CAYMAN, E9 KY1-9002 		X


S.A.C. PEI CB Investment GP, LTD
C/O WALKERS CORPORATE SERVICES LIMITED
WALKER HOUSE 87 MARY STREET
GEORGE TOWN, GRAND CAYMAN, E9 KY1-9002 		X


S.A.C. Private Equity Investors, L.P.
C/O WALKERS CORPORATE SERVICES LIMITED
WALKER HOUSE 87 MARY STREET
GEORGE TOWN, GRAND CAYMAN, E9 KY1-9002 		X


S.A.C. Private Equity GP, L.P.
C/O WALKERS CORPORATE SERVICES LIMITED
WALKER HOUSE 87 MARY STREET
GEORGE TOWN, GRAND CAYMAN, E9 KY1-9002 		X


S A C CAPITAL MANAGEMENT L L C
540 MADISON AVENUE
NEW YORK, NY 10022 		X


COHEN STEVEN A/SAC CAPITAL MGMT LP
C/O S.A.C. CAPITAL ADVISORS, L.P.
72 CUMMINGS POINT ROAD
STAMFORD, CT 06902 		X



Signatures
By: MedQuist Holdings Inc. /s/ Clyde Swoger, Name: Clyde Swoger, Title: Chief Financial Officer 2/15/2011
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
Medquist (NASDAQ:MEDQ)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Medquist Charts.
Medquist (NASDAQ:MEDQ)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Medquist Charts.