We need at least 25,000 people in the industry here,” he explains. “We have trained around 10,000 people and employ around 5,000 of them. “We will use our lower cost base here to enhance Medquist’s profitability.” Before he can do that, he will have to deal with potentially damaging litigation by minority shareholders opposed to the deal.Īs Cbay looks to digest this large deal (its revenues at $70 million are much less than Medquist’s $340 million), Kumar is also building a large talent pool for his company and the industry. CBAY Transcription Services Inc is a Healthcare, Information & Document Management, and Medical Devices & Equipment company located in NL with 5.00 Million. CBay Holdings, a global medical transcription (MT) company, completed the acquisition of. The combination of high quality and superior service is why medical professionals have turned to CBAY Transcription Services. We take the time to get to know our clients on a one-on-one basis to gain a complete understanding of their transcription needs. “This is a win-win for both companies,” proclaims Kumar. medical transcription Latest Breaking News, Pictures, Videos. offers truly personalized medical transcription services. While SAC and Lehman have taken a controlling interest in Cbay (for around $123 million), it has also issued debt to cover the cost of this acquisition. “Medquist has around 5,000 people on shore and access to a large crosssection of customers,” says Kumar. Cbay has taken a further step in this consolidation with a $285-million acquisition of Medquist from Philips. Then, a meltdown in the industry four years ago saw up to 1,500 mainly mom-and-pop businesses in the US shut shop and leave the market to four or five large players. For one, there’s an on-going talent crunch in the US, with the total pool shrinking from around 300,000 when Cbay first opened shop to under 100,000 today. CBAY Transcription - Medical Transcription.Cbay Transcription services provides typing and word processing services in Northampton. .Now, however, Kumar claims that a couple of key trends are compelling a wider audience to consider offshore medical transcription.
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