DENVER, May 30, 2000— Qwest Communications International Inc. (NYSE: Q), the broadband Internet communications company, today announced a $40 million, three-year deal with the leading national provider of medical transcription services, MedQuist Inc. (NASDAQ: MEDQ).
The agreement calls for Qwest to provide dedicated and switched voice services, Dedicated Internet Access (DIA), Frame Relay networking and conference calling and global calling card services to MedQuist. The medical transcription service company already has more than 100 dedicated circuits and thousands of voice and 800 lines from Qwest in operation.
With over 2,300 clients, MedQuist will rely on Qwest's nationwide fiber-optic network to provide the quality and performance needed to deliver their state-of-the-art transcription services. Additionally, with more than 70 service centers and 8,000 professional transcriptionists, MedQuist will leverage Qwest's voice services to increase collaboration and communication between its centers.
"MedQuist provides a critical service to the medical community," said Roger Attick, Qwest's senior vice president of alternate channel markets. "Just as physicians rely on accurate, timely transcription services from MedQuist, MedQuist relies on Qwest for the highest quality and most reliable Internet, data and voice services."
"MedQuist has experienced significant growth for the past several years," said David A. Cohen, chairman and CEO of MedQuist. "To keep up with this growth, we need to work with a company that can quickly scale with our ever-increasing demand for voice and data services. Qwest has met that challenge with our prior contract and is our carrier of choice for these new services."
MedQuist is the leading national provider of medical transcription services, the process by which dictation is converted into an electronic medical report. The timely production of accurate reports is necessary for patient care and for health care providers to receive reimbursement. Through MedQuist's nationwide network of more than 8,000 trained medical transcriptionists, proprietary software, sophisticated digital dictation equipment and ability to interface with health care providers' computer systems, MedQuist provides customized solutions to shorten customers' billing cycles and reduce overhead and other administrative costs.
Qwest Communications International Inc. (NYSE: Q) is a leader in reliable, scalable and secure broadband Internet-based data, voice and image communications for businesses and consumers. The Qwest Macro Capacity® Fiber Network, designed with the newest optical networking equipment for speed and efficiency, spans more than 25,500 miles in North America. In addition, KPNQwest (Nasdaq: KQIP), Qwest's European joint venture with KPN, the Dutch telecommunications company, is building and will operate a high-capacity European fiber optic, Internet-based network that will span 11,800 miles when it is completed in 2001. For more information, please visit the Qwest web site at www.qwest.com.
This release may contain forward-looking statements that involve risks and uncertainties.These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Qwest and KPNQwest with the SEC, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including potential fluctuations in quarterly results, dependence on new product development, rapid technological and market change, failure to maintain rights of way, financial risk management and future growth subject to risks, Qwest's ability to achieve Year 2000 compliance, adverse changes in the regulatory or legislative environment, and failure to complete the merger with U S WEST and achieve projected synergies and financial results timely or at all. This release may include analysts' estimates and other information prepared by third parties, for which neither Qwest nor KPNQwest assumes any responsibility. Qwest and KPNQwest undertake no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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