Medical Transcription Jobs India

gspal · Joined: 16 Dec 2007 Posts: 164 Location: India

[i]FRANKLIN, Tenn., Feb. 3 /PRNewswire/ -- Spheris, a leading global provider of clinical documentation technology and services, today announced that it has entered into an agreement under which MedQuist Inc. and CBay Inc., portfolio companies of CBaySystems Holdings Ltd. and leading providers of medical transcription software and services, have agreed to purchase substantially all of Spheris' assets pursuant to a transaction that is to be implemented under Section 363 of the United States Bankruptcy Code. In order to commence the sale process, Spheris and certain of its affiliates filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the "Court"). The Company
expects its operations to continue as usual during the restructuring process. Spheris India, a subsidiary of the Company, will be part of the prospective transaction but will not file for bankruptcy.

Spheris boss details company's woes

Affidavit: Company faces Indian tax hit, 'cannot endure a prolonged stay in chapter 11.’ The company is expecting a $2 million bill from India's tax authorities soon that, if not "satisfied immediately," could result in the Indian government shuttering its operations there. As its Indian operations are providing about 35 percent of its services to customers if Spheris India were to cease operating for even a couple of days, the result would be disastrous to the company as a whole.[/i]

With many MNCs folding up operation in India, MTs in MNCs must be feeling very insecure and the range is bound to plunge southwards.