The Hindu Business Line : Promantra plans joint venture in Philippines

PROMANTRA Synergy Solutions, engaged in business process outsourcing services for healthcare companies, has announced its move to expand its India operations and plans to set up a joint venture in the Philippines.

Addressing a press conference here, the Chief Executive Officer of Promantra, Dr Praveen Vadlamuni, said that the company planned to increase its headcount from the current 150 to 300 and was at advanced stage of negations for a joint venture project in the Philippines.

The company has so far invested about $1million (Rs 4.5 crore) in Indian operations and plans to invest about $1 million more within six months.

Dr Vadlamuni said that the company has been chosen among the annual `Offshore 100' round up of top global suppliers by Managing Offshore and offshore advisory expert neoIT.

The award is to be presented at New York on January 19. The company has been named among the top five rookies (new players) of global outsourcing.

Promantra was formed with first round of venture capital from Optimum Partners, a US-based venture fund. The company plans to tap second round of funding for the proposed Philippines project.

Apart from serving healthcare services companies covering accounting, clinical process outsourcing, medical coding, billing and payroll,

Promantra is in the process of unveiling an integrated software suite designed to meet the requirements of US healthcare companies, he said.

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