Press Releases
CBay Systems, Ltd. listed 113 th on the Deloitte Technology Fast 500 honoring North America's 500 fastest growing technology companies.
ANNAPOLIS, Md., Oct. 20 /PRnewswire/ -- CBay Systems Ltd. ("CBay")
has been named on the Deloitte Technology Fast 500, which is an annual
listing of the 500 fastest growing technology companies in North America.
These rankings are annually conducted by Delloitte and Touche LLP which
is a leading professional services firm in the US. CBay has been ranked
an impressive 113th on the list. The rankings are based on percentage
revenue growth over the past five years. CBay has been growing at an
impressive average of 2063% during this period.
The company will officially appear as a Technology Fast 500 winner on
www.fast500.com beginning Wednesday, October 20, 2004
In addition to ranking on the Deloitte Technology Fast 500, CBay ranked
6th on the Maryland Technology Fast 50, which is a ranking of the 50
fastest growing technology firms in the State of Maryland, USA. This
award was also conferred by Deloitte and Touche LLP.
CBay's Chairman and CEO, V. Raman Kumar credits CBay's achievement to
the collective and strategically focused effort of the entire CBay team,
which has led to CBay's phenomenal revenue growth over the past five
years.
He said, "The contributions of all employees at CBay are proof that
a company built to use the talents of many diverse specialists across
the globe can make a difference to the future of the world."
"It's not easy for a young company to get traction in the technology
marketplace let alone report such phenomenal revenue growth," said Mark
A. Evans, National Managing Partner of Deloitte's Technology, Media
& Telecommunications Group. "It's a credit to CBay Systems' leadership
that they've managed to ramp up their business so quickly."
"Achieving sustained revenue growth of over 75% Year on Year over a
period of five years is a tremendous accomplishment during a difficult
period for the technology sector," he added.
The Fast 500 list is compiled from Deloitte's 19 regional North American
Fast 50 programs, nominations submitted directly to the Fast 500, and
public company database research. Entrants must also be public or private
companies headquartered in North America and must be a "technology company,"
defined as a company that owns proprietary technology that contributes
to a significant portion of the company's operating revenues; or devotes
a significant proportion of revenues to the research and development
of technology.
About CBay Systems, Ltd.
Founded in 1998, CBay Systems, Ltd. is a leading provider of healthcare
business process outsourcing (BPO) services. CBay is based in Annapolis,
Maryland and draws upon extensive industry knowledge, to provide innovative
transcription and information management solutions to hospitals, integrated
health care facility networks, medical clinics and physician practices.
CBay's solutions leverage leading Internet technologies and the world's
most highly credentialed transcriptionists to provide easier, more secure,
accurate and cost-effective medical transcription. CBay is the fourth
largest provider of transcription services to the healthcare industry
in the world and has U.S. based and India based production facilities
employing more than 3,700 people and serving over 300 clients. CBay
is ranked number one in India in its space. CBay's India offices are
located in Mumbai, Bangalore and Hyderabad with 35 franchisees, (both
captive and independent) spread across the length and breadth of India.
About Deloitte
In the U.S., Deloitte & Touche USA LLP is the member firm of Deloitte
Touche Tohmatsu, and services are provided by the subsidiaries of Deloitte
& Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting
LLP, Deloitte Tax LLP, and their subsidiaries) and not by Deloitte &
Touche USA LLP. The subsidiaries of the U.S. member firm are among the
nation's leading professional services firms, providing audit, tax,
consulting, and financial advisory services through nearly 30,000 people
in more than 80 cities. Known as employers of choice for innovative
human resources programs, they are dedicated to helping their clients
and their people excel. For more information, please visit the U.S.
member firm's website at www.deloitte.com/us.
For additional information contact:
Shaival Trivedi
91 (22) 5641 7575
shaival@cbayindia.com
www.cbaysystems.com