Royal Philips Electronics said it is "reviewing its options" regarding its 70% ownership stake in speech recognition firm MedQuist of Mount Laurel, NJ.
In a July 6 press release, the Netherlands-based parent of Philips Medical Systems of Andover, MA, said that it was "pleased" that MedQuist had filed overdue financial reports with the U.S. Securities and Exchange Commission for 2005, 2004, and 2003.
"In light of this progress, Philips is reviewing all of its future options for its approximate 70% stake in MedQuist, as Philips views this stake as a noncore holding," said Philips chief financial officer Pierre-Jean Sivignon.
The company also said it would be recording a noncash goodwill impairment charge of 35 million euros ($48 million) related to MedQuist.
By AuntMinnie.com staff writers
July 10, 2007
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MedQuist files overdue SEC reports, July 6, 2007
MedQuist inks supply pact with Amerinet, June 19, 2007
MedQuist executives to leave company, May 15, 2007
Road to RSNA, MedQuist, November 13, 2006
MedQuist shows profitability in Q3 preliminaries, November 10, 2006
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