Strategic Ventures Fund (SVF), a PE fund managed by Frontline Strategy Limited has exited its investment in MedQuist Holdings Inc (formerly CBaySystems Holdings Ltd).

SVF had originally invested in CBaySystems in multiple tranches, between March 2002 to March 2005, to provide growth capital to the company and allow funding its rapid expansion.

Transaction Reference: Press Release

CBaySystems provides medical transcription software technology and services to hospitals, healthcare networks and physician practices.

It offers software solutions including digital voice capture, speech recognition, electronic signature, medical coding systems and services, and mobile dictation devices.

CBay was earlier listed on the AIM Stock Exchange, London in 2007. This year in January, it shifted its listing to Nasdaq.

Founded in 2000, Frontline Strategy currently manages two India focused funds - Strategic Ventures Fund and India Industrial Growth Fund and have launched their new fund 'The Clove Route Fund'.

SVF had made a total of 15 investments in Indian companies. Some of its investments include Astra Microwave Products, a manufacturer of high-end microwave and RF-based components for defense, space and civil telecom applications; Titagarh Wagons, railway wagons manufacturer; Alfa Transformers, a manufacturer of power, distribution and furnace (specialty) transformers; Shilpa Medicare, specialty pharmaceutical manufacturer, among others.

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