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ACCENTIA TECHNOLOGIES: PREDATOR ON THE PROWL (is on the verge of acquiring 4 business processes outsourcing service companies based in the US)
(India Business Insight Via Thomson Dialog NewsEdge) Accentia Technologies is a healthcare business processes outsourcing (BPO) company with its headquarters in Mumbai.
It has a presence in Mumbai, Thiruvananthapuram, Pennsylvania in the US and London in the UK.
In 2005-2006, the company had acquired a 51 percent stake in Geosoft Technologies Ltd of Thiruvananthapuram and a 51 percent stake in Iridium Technologies (India).
The company is about to acquire 4 BPO service companies based in the US. The company also seeks to acquire medical transcription companies that are based in Bangalore and Kerala.
Accentia has kept aside $12 million for these acquisitions. To expand its business in Bangalore, the company has formed strategic alliance with Assent Infoserve of Bangalore under which Assent will execute Accentia's outsourced business in healthcare BPO services at its 600- seat facility. In 2005-2006, the company made a net profit of Rs5.82 crore on a consolidated turnover of Rs16.97 crore. The proposed acquisitions in the US are likely to push the company's turnover past Rs100 crore in 2007-2008 with a net profit of Rs34 crore.
Copyright 2007 Silverline Information Systems Pvt. Ltd. Source : Financial Times Information Limited
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