LONDON (ShareCast) - CBaySystems, a provider of technology-enabled business process outsourcing services for the US healthcare industry reported interim figures in line with expectations Friday.
It posted a net loss of $2.58m for the six months to 30 June versus a $222,450 deficit a year earlier on revenue up 34% to $24.96m. Earnings before interest, taxes, depreciation, amortization and share based compensation rose 95% to $2.38m.
“This is clear evidence of the success of the broadening of our service offerings to include patient financial services and of the better utilization of our India based resources for our transcription business,” said chairman and CEO Raman Kumar.
The company, which raised around £12.7m from its listing on AIM in June, said it has made good progress in the development and launch of its practice management solution platform CBayPraxis, which should see some revenue generation in the current half.
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