The Hindu Business Line : Parent holds 85% stake in HealthScribe India

HEALTHSCRIBE India Pvt. Ltd has become a subsidiary of its parent company HealthScribe Inc, as the latter has bought 62 per cent of the equity, earlier held by Max India for $10.3 million

With this, HealthScribe has increased its stake to 85 per cent in the Indian subsidiary. The remaining 15 per cent is held by an investment company, according to Mr Suresh Nair, Managing Director, HealthScribe India.

"HealthScribe's increased equity stake in HealthScribe India is a key component of our growth strategy, as we continue building the premier BPO services company in the US. Fundamental to our approach is the continued development of balanced resources within both the US and offshore rather than focusing singularly on the utilisation of US or offshore resources," said Mr Dave Ehrhardt, HealthScribe Inc. President and COO. The company has drawn up plans to expand its business in medical transcription by at least 50 per cent in volumes for which it has decided to add 500 people this year. The company hopes that it should result in a revenue increase by 20 to 40 per cent.

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