Press Releases
CBay Systems Named to Inc. 500
Ranked Among America's 500 Fastest-Growing Private Companies
Annapolis, Maryland (October 25, 2005) - CBay Systems
today announced that it has joined the prestigious ranks of the Inc.
500. On October 19th, Inc. Magazine
announced that CBay Systems, a leading provider of healthcare business
process outsourcing (BPO) services, was chosen as one of the top 500
fastest growing privately held companies in America. Among the vanguard
of American industry, CBay ranks an impressive No. 273 on the list with
three-year sales growth of 456%.
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.
"When you look at the amazing job growth among Inc. 500 companies and
contrast it with the stagnation in the Fortune 500, it underscores the
changing nature of our economy," said Jim Melloan, project manager for
the Inc. 500. "With unprecedented global competition, companies have
to be able to turn on a dime and discover innovative new ways of doing
business. Increasingly, it's the smaller, agile companies like those
on the Inc. 500 that are best equipped to meet these challenges."
The Inc. 500 ranks privately held companies according to year-over-year
sales growth from 2001 to 2004. With approximately 75% of all new job
creation in the U.S. coming from entrepreneurial businesses, the Inc.
500 opens a window onto the companies and industries that are driving
the economy forward. Over the years, the Inc. 500 has identified the
next generation of world-class companies, with Microsoft, Stonyfield
Farms, Timberland, Oracle, The Princeton Review, Morningstar, Jamba
Juice, Gateway, E*Trade, Intuit, and Domino's Pizza all appearing on
the list before they became industry powerhouses.
"We are exceptionally proud to be recognized in such great company as
the Inc. 500. CBay's continued successful growth can be attributed to
providing excellent value, superior customer service and leading edge
technology," said Raman Kumar, CBay's Chairman and CEO. "CBay has positioned
itself as the "Smart Choice" to provide "best of breed" capabilities
in the health care industry."
Inc. 500 Selection and Qualifications
To be eligible for this year's Inc. 500, companies had to be U.S.-based,
independent and privately held through their fiscal year 2004, and have
had at least $500,000 in net sales in the base year of 2001. In addition,
their 2004 sales had to exceed 2003 sales. Companies are ranked on cumulative
three-year sales growth from 2001 to 2004. Inc. verifies all information
using tax forms and audited financial statements from certified public
accountants and by conducting interviews with company officials.
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
technologies 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 Inc.
Inc., the only major business magazine dedicated exclusively to owners
and managers of growing private companies, delivers real solutions for
today's innovative company builders. It provides hands-on tools and
market-tested strategies for managing people, finances, sales, marketing,
and technology. Inc. is also the only publication that focuses on small
to medium-size businesses, responsible for more than half the nation's
gross domestic product and 70% of its new jobs. And Inc. looks beyond
work to address the entrepreneurial lifestyle. Inc., a Mansueto Ventures
LLC publication, inspires and informs, with cutting-edge coverage that
reflects our readers' energy, brashness, and imagination.
For additional information contact:
Linda Fortunato
CBay Systems, Ltd.
(866) 295-4600
lfortunato@cbaysystems.com
www.cbaysystems.com