Press Releases
CBay Systems Makes Deloitte's List of 500 Fastest Growing
Technology Companies in North America and Maryland Fast 50
Rapid Growth Recognized for the Second Year
Annapolis, Maryland (October 19, 2005) - CBay Systems,
a leading provider of healthcare business process outsourcing (BPO)
services, today announced that it was again named to the Deloitte Technology
Fast 500. The ranking measures the 500 fastest growing technology companies
in North America, based on percentage revenue growth over the past five
years, during which CBay Systems grew 779 percent.
CBay addresses various issues in the healthcare space, primarily focusing
on 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.
"Making the Deloitte Technology Fast 500 is commendable in today's highly
competitive technology industry," said Tony Kern, deputy national managing
principal of Deloitte's Technology, Media & Telecommunications industry
practice. "Achieving sustained revenue growth of 779 percent over five
years is a tremendous achievement. We congratulate CBay Systems on being
one of the 500 fastest growing technology companies in North America."
Inclusion on the nation-wide Fast 500 list follows CBay's recent acknowledgement
as a member of the Deloitte Technology Fast 50 in Maryland. This list
highlights the 50 fastest growing technology companies in the state
of Maryland for 2005.
CBay's Chairman and CEO, Raman Kumar said, "It is an honor for CBay
to be recognized for a second year in a row, but we are especially proud
of these awards, as they communicate our explosive growth and ever-increasing
customer base, providing concrete evidence of our superior product and
commitment to customer service."
Fast 500 Selection and Qualifications
The Fast 500 list is compiled from Deloitte's 15 regional North American
Fast 50 lists, nominations submitted directly to the Fast 500, and public
company database research. To qualify for the Fast 500, entrants must
have had 2000 operating revenues of at least $50,000 USD or $75,000
CD for the United States and Canada, respectively, and 2004 operating
revenues of at least $1 million USD or CD.
Entrants must be 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. Using other companies' technology in a unique
way does not qualify.
About CBay
CBay Systems, Ltd. is a leading provider of healthcare technology and
business process outsourcing (BPO) services and the largest global provider
of transcription services to the healthcare industry. CBay's more than
5,000 highly trained medical language specialists and customer service
professionals serve 650+ health systems, hospitals, clinics and physician practices 24 hours a day, 365 days a year, using HIPAA compliant web-based
technology with a commitment to the highest standards of quality, service
and value. CBay is headquartered in Annapolis, Maryland. For more information,
visit www.cbaysystems.com.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss
Verein, its member firms and their respective subsidiaries and affiliates.
As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor
any of its member firms has any liability for each other's acts or omissions.
Each of the member firms is a separate and independent legal entity
operating under the names "Deloitte", "Deloitte & Touche", "Deloitte
Touche Tohmatsu" or other related names. Services are provided by the
member firms or their subsidiaries or affiliates and not by the Deloitte
Touche Tohmatsu Verein. Deloitte & Touche USA LLP is the US member
firm of Deloitte Touche Tohmatsu. In the US, services are provided by
the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche
LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP,
Deloitte Tax LLP and their subsidiaries), and not by Deloitte &
Touche USA LLP.
For additional information contact:
Linda Fortunato
CBay Systems, Ltd.
(866) 295-4600
lfortunato@cbaysystems.com
www.cbaysystems.com