ANNAPOLIS, Md., Oct. 4 /PRNewswire/ -- CBay Systems, Ltd. will be named to Deloitte’s prestigious Technology Fast 50 Program for Maryland, a ranking of the 50 fastest growing technology companies in the area by Deloitte & Touche LLP, one of the nation’s leading professional services firms. Scheduled to be announced October 8, 2004, Technology Fast 50 rankings are based on the percentage of growth in fiscal year revenues over five years, from 1999 - 2003. Wilmer, Cutler, Pickering, Hale and Dorr is the sponsor for this year’s Maryland Technology Fast 50 program and PR Newswire is the official media partner.
CBay’s President, Donald “Skip” Conover credits the Company’s effective team approach and committed staff with the company’s fast growth over the past five years. He said, “We have always combined the expertise of our financially and internationally sophisticated executive team with the long and proven experience of our senior managers to create the fastest growing company in our industry.”
“The Deloitte Maryland Technology Fast 50 companies have shown the strength, vision and temerity to succeed despite a very challenging technology environment,” said Gary H. Tabach of Deloitte’s Technology, Media & Telecommunications Practice and Office Managing Partner for Deloitte’s McLean, Virginia office. “We applaud the successes of CBay and acknowledge their place as one of the very few to accomplish such a fast growth rate over the past five years.”
“In today’s economy, (double or triple)-digit percentage revenue growth is an exceptional accomplishment. We commend CBay for making the commitment to technology and delivering on the promise of market longevity. We are proud to honor CBay as a Deloitte Technology Fast 50 winner.”
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 1999 and $1,000,000 in 2003, must be public or private companies headquartered in North America, and be a “technology company” defined as owning proprietary technology that contributes to a significant portion of the company’s operating revenues (using other companies’ technology in a unique way does not qualify); and/or devoting a significant proportion of revenues to research and development of technology.
Winners of the 19 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology companies.
For more information on the Deloitte Fast 50 or Fast 500 programs, visit http://www.fast500.com/.
About CBay Systems, Ltd.
Founded in 1998, CBay Systems, Ltd. is a leading provider of healthcare business process outsourcing (BPO) services. Drawing upon extensive industry knowledge, CBay provides innovative transcription and information management solutions to hospitals, integrated health care facility networks, medical clinics and physician practices. CBay’s solutions leverage leading Internet technologies and the world’s most highly credentialed transcriptionists to provide easier, more secure, accurate and cost- effective medical transcription.
CBay is the fourth largest provider of transcription services to the healthcare industry and has U.S. based and offshore production facilities employing more than 3,700 people serving over 300 clients.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of 120,000 people worldwide, Deloitte delivers services in four professional areas -- audit, tax, consulting, and financial advisory services -- and serves more than one-half of the world’s largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global growth companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.
As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte,” “Deloitte & Touche,” “Deloitte Touche Tohmatsu,” or other related names.
In the U.S., Deloitte & Touche USA LLP is the member firm of Deloitte Touche Tohmatsu, and services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Tax LLP, and their subsidiaries) and not by Deloitte & Touche USA LLP. The subsidiaries of the U.S. member firm are among the nation’s leading professional services firms, providing audit, tax, consulting, and financial advisory services through nearly 30,000 people in more than 80 cities. Known as employers of choice for innovative human resources programs, they are dedicated to helping their clients and their people excel. For more information, please visit the U.S. member firm’s website at http://www.deloitte.com/us.
For additional information contact: Skip Conover Tel: 866-295-4600 sconover@cbaysystems.com
CBay Systems, Ltd.
CONTACT: Skip Conover of CBay Systems, Ltd., +1-866-295-4600, orsconover@cbaysystems.com
