CBay Systems

Strengthens its position in the region with plans on further ramping headcount to reach 1500 people over a 12-month period

Highlights

New facility spread over 18,000 sq ft with a seating capacity of 450 people
CBaySystems to hire over 700 people in Coimbatore by December 2009
Plans to further expand operations in Coimbatore and increase staff strength to reach 1500 employees over the next 12 months
To tap the premium educational institutes in Coimbatore for training in medical transcription

Coimbatore - April 29, 2009: CBaySystems, the world’s leading provider of medical transcription services, today announced the expansion of its India operations with a new center in Coimbatore. Located in Rathinam Technopark of Rathinam Techzone Campus, Eachanari, the new state-of-the-art facility will have a seating capacity of 450 people and is spread across an area of 18,000 sq.ft. In the first phase, the company is planning to increase its headcount in Coimbatore to over 700 employees in a 6-month period and, as a part of the second phase, CBaySystems will further expand its operations in the city with the aim of ramping its headcount to over 1500 employees in the next 12 months. Mr. Dinesh Kumar, Director and COO, India Operations, inaugurated the facility today, making CBaySystems one of the largest and predominant players in Coimbatore, a city already known for outsourcing of medical transcription.

Speaking on the occasion, Mr. Dinesh Kumar said, “We are excited to be in Coimbatore as it is a key hub for the medical transcription outsourcing industry in India. Coimbatore offers a unique benefit of skilled manpower, scalable infrastructure and a large talent pool of fresh candidates that can be trained to become world class medical transcriptionists. We have always been focused on this market, and with the launch of this new Centre, we plan to add a sizeable number of employees thereby strengthening our presence even further.”

“In an effort to induct fresh talent into our company, we will be extending our training program to several premium educational institutes with a ready talent base, and we will continue to boost operations in order to meet the demands of an ever increasing market.” added Mr. Dinesh Kumar.

Industry bodies currently estimate the US healthcare outsourcing market to be in the range of $12 billion, which is expected to reach around $18 billion by 2010. In consistency with the market, CBaySystems has witnessed rapid growth in this field. With its acquisition of a majority ownership of MedQuist in 2008, CBaySystems was transformed into a global leadership position in the healthcare services industry. Today, along with MedQuist, CBaySystems provides a suite of healthcare technology and medical transcription services to over 1700 hospitals and a large number of physician practices in the United States. It also provides transcription technology and services into the NHS market in the United Kingdom.

CBaySystems Holdings Ltd. is the holding company for a portfolio of businesses, including CBay Systems & Services Inc, CBay Systems (India) Pvt. Ltd, and Mirrus Systems, that provide medical transcription, healthcare technology, and healthcare financial services to the US healthcare industry. CBaySystems Holdings Ltd trades under the CBAY symbol on the AIM market of the London Stock Exchange. CBaySystems Holdings’ subsidiary company, CBaySystems (India) Pvt. Ltd., with its headquarters in Mumbai, is India’s largest provider of Medical Transcription services company employing over 6,200 employees in its captive and franchisee centers spread across 42 centers in India and one each in Srilanka, Bhutan, Oman and Barbados.

Press Release