CBay Systems shifts base to Mumbai

In an attempt to expand its presence, US-based healthcare BPO major, CBay group, has restructured its operations and shifted them to India.

The company is also planning to set up three development centres with an investment of around Rs 75 crore and recruit 4,500 personnel.

"With this restructuring, we have shifted our headquarters to Mumbai, making Cbay an India-based company with a subsidiary in the US. Earlier, it was the other way round, our company was a Annapolis, Maryland-based healthcare BPO provider, with a back office in India," V Raman Kumar, chairman and CEO, CBay Systems India told Business Standard.

In revenue terms, Cbay is the world's third largest healthcare BPO company after MidQuest and Spheris. The company's promoter group, including industrialist Nadir Godrej holds 25 per cent stake in the company, while the remaining 75 per cent is held by foreign institutional investors.

The company had almost 97 per cent of its operations in the country, with a front office and headquarters in the US. Hence, the shift is basically "on the papers" and has nothing to do with people or process movements, he clarifies.

CBay will retain its US arm for marketing and continue its operations in that country.

On the rationale of restructuring, Kumar said, "Going forward, the valuation is important as it would help in gaining global clients and position the company as the number one across the world."