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US firm buys out Indian medical transcription company
BANGALORE, India (AFP) Jan 29, 2004
Leading US-based medical transcription firm HealthScribe said Thursday it had bought an Indian medical data entry company for 10.3 million dollars to take advantage of a growing trend to outsource medical record keeping.

HealthScribe Inc. earlier had a stake in the company -- which is still called India Healthscribe -- but sold out in 2000 to Indian company the Max group.

"The US firm exited as then the quality of work done in India was poor. Things have changed and now it believes it can use India as a hub for future growth," said Suresh Nair, chief operating officer at the Indian company.

"This indicates a revival of the medical transcription industry of a fairly a big nature," he added. "There is significant growth happening."

India's medical transcription industry is estimated to be worth 75 million dollars while in the United States it is valued at about 10 billion dollars.

"India's medical transcription industry is growing every year at 10 percent," Nair said.

India HealthScribe has annual turnover of around 440 million rupeesmillion dollars) and employs some 1,200 medical language specialists.

It has 75 doctors in-house.

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