Press Releases
CBay Recognized by Forbes.com As Fast-Growing Private Technology
Company
Medical Transcription Solutions Provider's Unique Offering and Impressive
Growth Secure Inclusion on List of "Ten to Watch in 2005"
ANNAPOLIS, Maryland (March 9, 2005) - CBay Systems,
Ltd., leading provider of medical transcription and information management
solutions, today announced it has been named one of the "Ten to Watch
in 2005" by Forbes.com. Spotlighting private technology companies with
substantial sales growth and a unique product offering, the list is
an online supplement to the Forbes article "The 25 Fastest-Growing Tech
Companies," which ranks publicly traded firms based on sales and revenue.
The only medical services firm in the "Ten to Watch in 2005," CBay addresses
the often overlooked issue of medical transcription. The company's HIPAA-compliant
solutions leverage Internet technologies to provide integrated dictation
capture, transcription and web-based document management services to
hospitals, clinics and doctors.
"We are very pleased to be recognized by Forbes.com for our growth and
commitment to the medical transcription industry," said CBay's chief
executive officer, V. Raman Kumar. "This acknowledgment is significant
validation of our strategy to be a leader in our market by providing
solutions that combine best practices and leading technology."
CBay enjoys consistent industry recognition, most recently as number
113 on the 2004 Deloitte Technology Fast 500 and number 6 on the 2004
Deloitte Technology Fast 50 in Maryland. Announced in October, Deloitte
and Touche LLP annually ranks technology companies by measuring percentage
revenue growth over the past five years.
"Each honor we receive reinforces our dedication to the importance of
medical documentation," said Christopher Foley, chief operating officer
for CBay. "By outsourcing their transcription operations to CBay, our
customers have been able to improve the quality and confidentiality
of medical records, streamline processes and reduce cost, ultimately
improving patient care."
About CBay Systems, Ltd.
CBay Systems, Ltd. is a leading provider of healthcare business process
outsourcing (BPO) services. Drawing upon extensive industry expertise,
CBay provides innovative transcription and information management solutions
to integrated health delivery networks, hospitals, academic institutions,
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. Headquartered in Annapolis, Maryland, CBay is the largest
global provider of transcription services to the healthcare industry
with U.S. and offshore operations and more than 4,500 employees serving
over 650 clients. For more information, visit www.cbaysystems.com.
About Forbes.com
Forbes.com Inc. (www.forbes.com), home page for the world's business
leaders and the No. 1 business site on the Web, is among the most trusted
resources for senior business executives, providing them the uncompromising
commentary, concise analysis, relevant tools, community and real-time
reporting they need to succeed at work, profit from investing and have
fun with the rewards of winning. Throughout the business day Forbes.com
publishes more than 1,500 articles, delivering the best of Forbes journalism
and that of its selected partners with all the immediacy, depth and
interactivity that the Web allows. In fact, more people get their business
news on Forbes.com than any other source in the world - covering business,
technology, markets, personal finance and lifestyle, with streaming
video broadcasts several times a day. Voted "Best Media Website" in
2003 by the Web Marketing Association, and min's Best of the Web winner
for "Editorial Excellence" in the consumer category in 2003 and 2004,
Forbes.com continues to set industry standards for its innovative advertising
offerings, and for its award-winning journalism.
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:
Linda Fortunato
CBay Systems, Ltd.
Tel: 866.295.4600 x3139
lfortunato@cbaysystems.com