Financial Daily from THE HINDU group of publications Saturday, Dec 25, 2004 |
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Info-Tech
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Mergers & Acquisitions Avicis buy gives Spheris huge India advantage Our Bureau
Bangalore , Dec. 24 THE acquisition of Avicis, formerly known as HealthScribe, has given Spheris, the second largest medical transcription firm, an access to the India-based offshore delivery model. HealthScribe owns a subsidiary in India, which delivers medical transcription services through its centre in Bangalore. "The merger with Spheris gives a significant growth opportunity for us," said Mr Suresh Nair, Managing Director of HealthScribe India. The company has some 1,500 people working in India. This acquisition gives Spheris a huge India advantage in terms of offshore capability, as the company did not have any earlier presence in India, Mr Nair said. Avicis/HealthScribe, founded in 1993, currently serves more than 150 healthcare facilities with a transcription workforce of over 1,800 medical transcriptionists. With the acquisition of Avicis/HealthScribe, Spheris is positioned to more rapidly expand its product and service offering of complete medical transcription technology and outsourcing services to healthcare providers throughout the US and Canada, said a company press release. Terms of the deal were not disclosed. "Combined with Spheris' 3,200 medical transcriptionists, Avicis' 1,800-plus MTs will greatly increase our ability to deliver industry leading turnaround, quality and service," stated Mr David Ehrhardt, Avicis/HealthScribe former president and COO and now Spheris COO. HealthScribe Inc had earlier said that it would make India a hub to get into other services taking advantage of the offshore capability and recruit some 500 people this year. The company looks to expand into high volume processing services by end-2005.
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