core sector communique

CBaySystems Becomes M*Modal Global Services

Change Signals Company’s Increased Hiring, Growth and Opportunity in Global Healthcare Industry

INDIA, September 11, 2012 – CBaySystems, an M*Modal company and India’s largest clinical documentation solutions provider, today announced the unification of the company’s medical transcription, advanced Speech Understanding™ and Natural Language Understanding™ technologies, development, coding, HIM professional services and healthcare analytics under the new name “M*Modal Global Services Pvt. Ltd.” with immediate effect. This is an important next step in uniting several well-known healthcare IT brands under the single name “M*Modal”, establishing the company as one of the world's largest clinical transcription services and a global leader in advanced Speech Understanding™ and Natural Language Understanding™ technologies.

“Our talented and dedicated India team continues to play a critical role in the growth and success of M*Modal worldwide. It's clear to us the unique opportunities this young, dynamic workforce offer our customers with the increased demands for more complex clinical documentation requirements," said Vern Davenport, Chairman and CEO of M*Modal Inc. “The commercialization of our Natural Language Understanding products radically expands the role clinical documentation plays in enhancing the quality of medical outcomes and the controls on healthcare costs. Complementing this with the skills of our global services organization stands to fundamentally enhance the delivery of patient care."

The strategic rebranding initiative brings together the quality reputation of CBaySystems with M*Modal’s global organization and signals increased hiring across its India locations, as well as new growth and expansion opportunities. Through an effective outsourcing model, M*Modal is able to leverage a strong pool of professional talent available in India, enabling the company to continue delivering high quality services to its expanding global customer base.

M*Modal’s India delivery operations are currently comprised of 6,500 full-time employees in areas such as clinical documentation, quality assurance, software development and IT network operations. The company operates across 39 global delivery centers, including Mumbai, Pune, Coimbatore, Bangalore, Hyderabad, Vijayawada, Nagpur and Bengaluru, which are central to its global operations.

The company also has established a product development facility in Bangalore and Hyderabad working on highly advanced Speech Understanding™ and Natural Language Understanding^TM technologies as well as sophisticated medical workflow applications. This is enabling M*Modal to offer a significantly new level of technical skills and opportunities to its employees in India as part of the latest advances in clinical documentation.

On the occasion of the new corporate re-branding and the complete integration of CBaySystems into M*Modal, Mr. Davenport and the M*Modal senior leadership team visited Mumbai and Bangalore August 27–30 to meet with our India based management teams and employees, and to conduct their monthly business planning meeting, interact with employees at town hall meetings, and tour company facilities there.

Speaking on the company’s India plans, Dinesh Kumar, Managing Director, India for M*Modal said, “During the company’s growth this past decade, India has remained central to delivering high value clinical documentation services to our U.S.-based customers. As M*Modal's business continues its pivot to embracing technology advances as a natural evolution of its service offerings, we anticipate significant increases in the volume of work flowing to India as part of this large global expansion. Just as exciting, this aggressive growth plan now enables us to train our Indian employees with new skill sets in medical coding, in the complexities of medical billing and in the emerging field of healthcare analytics. We are committed to empowering the careers of our employees to enhance what India can offer to the world."

M*Modal, recently a public U.S. corporation listed on The NASDAQ Stock Market, was acquired by One Equity Partners, a division of JP Morgan Chase & Co., thus becoming a private corporation headquartered in the State of Tennessee in the United States.

About M*Modal

M*Modal is a leading provider of clinical transcription services, clinical documentation workflow solutions, advanced cloud-based Speech Understanding^TM technology, and advanced unstructured data analytics. Recognized as one of the largest clinical transcription services in the world with its global network of medical editors, M*Modal also offers voice to text and context solutions to capture the complete patient story, codify the doctor's narrative to automatically populate EMRs and other key healthcare information systems, deliver computer-assisted coding to support ICD-9 and the transition to ICD-10, and provide highly advanced analytical tools for exploring the richness within the "unstructured" narrative for improvements in quality of care, greater physician satisfaction and lower operational costs.