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NEW YORK -- Targets India to Meet Growing Demand for Medical Transcription Services by U.S. Healthcare Sector

SPI Technologies Inc., one of the world's leading content outsourcing services providers, announced today that it has signed an agreement to acquire KG Information Services and Technologies Private Limited's medical transcription business (KGMT). The acquisition of India-based KGMT will enable SPI to quickly expand its delivery capacity to meet accelerating demand for medical transcription services by U.S. healthcare providers. Terms of the agreement were not disclosed.

"Providing medical transcription and other healthcare information management services is one of SPI's fastest growing lines of business," said Ernest Cu, President and CEO of SPI Technologies. "The KGMT acquisition gives us state-of-the art facilities in India with a capacity of more than 800 employees to complement our medical transcription operations in the US and the Philippines."

KGMT is located in Coimbatore, the second largest city in Southern India after Chennai and considered to be the education center of the region. "The acquisition of KGMT broadens our presence in the country, adding to our current staff count of nearly 1,000 across the cities of Chennai, Pondicherry, Kolkata and New Delhi. SPI Technologies is committed to building a greater presence in India and maintaining our leadership role in global business process outsourcing," said Mr. Cu.

Robert Cabato, President and Chief Operating Officer of SPI Healthcare Documentation, the healthcare division of SPI Technologies, said,"KGMT is an excellent fit for SPI. Like us, KGMT is a pioneer in its field, setting standards for the rest of the industry in terms of training and quality and hiring professionals with deep experience in the business. We look forward to serving our clients through our enhanced delivery platform, drawing from the best resources available in the US, the Philippines and now, India, for medical transcription and healthcare information management services."

The growth in global medical transcription services is being driven by increased demand from the US, where annual spending on medical transcription is expected to grow from $2.3 billion at present to more than $4 billion by 2008 (IDC, January 2005).

# posted by Medical Information : 4:05 AM