CBaySystems acquires AMSplus

MUMBAI: CBaySystems, a leading provider of technology-enabled BPO (business process outsourcing) services for the US healthcare industry and the third largest transcription services company in the world announces the acquisition of AMSplus, Inc (AMSplus), a US-based provider of medical billing and practice management services.

AMSplus is a privately held company that serves both physician practices and hospitals. It has approximately 185 employees based in offices located in six cities across north eastern USA. In the year ending 28 February 2007, AMSplus reported sales of approximately USD 13.8 million and was profitable.

This acquisition strengthens CBaySystems' position in the US market for patient financial services, which has an estimated value of USD 15 billion, and also creates significant cross-selling opportunities. CBaySystems had last year acquired the patient financial services business of Certus Corporation and now combined with AMSplus will make it a formidable player in this space.

Raman Kumar, Chairman and CEO of CBaySystems, said: "I am delighted within two months after our IPO at AIM, London Stock Exchange to deliver this acquisition, which we expect will improve our top and bottom line growth and create cross-selling opportunities through an expanded customer base.

"The complexity of physician practice reimbursement has increased demand for the services provided by AMSplus, which offers an advanced billing platform, a dedicated team of billing experts and sophisticated analytics and reporting."

AMSplus, will be integrated into CBaySystems' US-based group company, Mirrus Systems, a national US provider of patient financial services. Marc Bolh, AMSplus' founder, will join Mirrus Systems' Executive Management Team and continue as AMSplus' President.

"We are very pleased to have made this important acquisition," said Nanda Krish, Executive Director of CBaySystems and CEO of Mirrus Systems. "AMSplus brings more than 25 years of experience and a strong reputation for helping physician practices lower their accounts receivables and improve revenues. This will complement our existing Delay Management and Reimbursement Analytics services, and reinforce our focus on helping healthcare providers accelerate cash and reduce receivables outstanding."

"Teaming with Mirrus offers great new opportunities for our 150-plus physician practice customers," Marc Bolh, President of AMSplus, said. "Mirrus, and its parent company, CBaySystems , share our passion for helping physician practices and hospitals operate with greater efficiency and profitability. In addition, CBaySystems offers services such as medical transcription, integrated practice management and electronic medical record solutions that can help our clients reduce costs and improve quality."