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L.N. Revathy

Coimbatore , April 22

SPI Technologies, a player in the healthcare BPO services, is pursuing a $50-million expansion plan.

The expansion process commenced a year ago with the company making strategic investments in target markets to support rapid growth in key business units. The acquisition of the medical transcription business of the Coimbatore-based KGISL last month has given SPI an additional capacity for 800 medical transcriptionists (MTs). SPI is looking at ramping up this facility to 1,000 within the next 10-12 months.

Speaking to Business Line, the SPI President and CEO, Mr Ernest Cu, said the company proposed to extend its service lines and production capabilities through selective acquisitions in the US and Asia. "With active support of TH Lee Putnam Ventures, our owners, we will continue to invest in people, facilities and technology"'

Mr Cu was reluctant to divulge the acquisition cost of the city-based MT business unit.

To another query, he said SPI had, at any point in time two or three companies in mind for possible acquisition, but did not let slip any details.

When asked if it would be a joint venture proposal, he said: "SPI believes in taking control. Joint ventures slacken the decision-making process and business growth. And the deal is never life-long."

According to him, acquisition costs were relatively cheaper in the US compared to India. "With the country emerging as a major outsourcing hub, business acquisition costs are tending to rise in India. Acquiring a data entry business unit in India is still advantageous. Power is cheap, manpower is available and cost-effective. But Indian BPO companies are over-priced."

SPI has facilities in Pondicherry, Kolkata, New Delhi, Chennai and Coimbatore.

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