MedQuest again gets limited waiver of defaults, extends financial reporting deadline

By Sara Rosenberg

New York, Sept. 1 - MedQuest Inc. got a limited waiver, extending the limited waiver that the company got on May 13 and then again on Aug. 13, regarding certain defaults and extending the reporting deadline for fiscal quarters ended March 31 and June 30 financials, and six months ended June 30 financials, according to an 8-K filed with the Securities and Exchange Commission Thursday.

Furthermore, the waiver covers non-compliance with financial covenant tests for the periods ended June 30, March 31, Dec. 31, 2004 and/or prior periods.

The company expects to continue discussions with the lenders to obtain a permanent waiver of any defaults and/or events of default that may have occurred, the filing added.

Wachovia Bank is the administrative agent on the deal.

The limited waiver is effective as of Aug. 29 and expires Sept. 7.

MedQuest is an Alpharetta, Ga., operator of diagnostic imaging centers.

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