CBay Appoints New Members on its Board

Mumbai, Maharashtra, India, Tuesday, March 21, 2006 -- (Business Wire India)

As part of its corporate restructuring process, healthcare BPO major CBay Systems India Ltd will soon have on its Board of Directors Dr. S. Narayan, IAS and former economic advisor to the Prime Minister of India and former Secretary of Finance and Revenue, Government of India, Mr. Nagendra Nath Jha, IFS who served as India’s High Commissioner to Sri Lanka and has held a spectrum of positions subsequent to his retirement – Lt. Governor of Andaman and Nicobar Islands and Pondicherry between 2001-2004 and Charles Habermacher, Chairman and Managing Director of Habconsult AG, a leading financial consultancy company to international institutional customers. Prior to founding Habconsult AG, Mr. Habermacher served in various senior positions in HSBC Republic Bank Zurich and American Express Bank Switzerland AG. et al.

“As part of our strategy to build a truly global company, CBay Systems is putting together a high powered Board that will guide the company to deliver world class advantage of people, technology and business processes to its clients”, said Mr. Raman Kumar, Chairman and CEO. “We welcome Dr. Narayan, Mr. Jha and Mr. Habermacher to our Board. They join Mr. Nadir Godrej, Vice Chairman and Managing Director of Godrej Industries, who has advised and guided CBay Board for over 5 years now”, he further added.

Established in 1999, CBay has grown to provide customized technology and services solutions to over 650 healthcare provider clients in the US. Already the third largest company in medical transcription technology and services in North America, CBay is now diversifying its technology based service offering to healthcare receivables management. Its growing market presence has been reinforced by the various recognitions that have been bestowed upon it recently – ranked as one of the fastest growing technology companies in North America by Deloitte’s ‘Technology Fast 50’ and ‘Technology Fast 500’ program for 2004 and 2005; named to the coveted Inc.500 list by Inc. magazine; named ‘Tech company of the year’ for 2005 by the Anne Arundel Tech Council; named one of the fastest growing companies in Greater Washington by Washington SmartCEO magazine et al. CBay is by far the largest healthcare BPO company in India.