IMEDX Announces acquisition in US;to ramp up Indian operation

Hyderabad, Mar 16 (UNI) iMedX, a US-based outsouring provider of healthcare software and services, today said it would release two internet-based medical transcription products and increase the headcount to 700 over the next six months to ramp up its Indian operations ahead of its proposed Public Issue.

The Company, whose innovative Internet-based transcription delivery platform, TurboScribe, is being widely used by hospitals and doctors in the US through its delivery centres in the US and Hyderabad, plans to release it in India in April 2007.

It also plans to release by July 2007 TurboRecord for digitising medical records. Another product, TurboRx, to allow physicians to prescribe medications electronically to pharmacies is also in the pipeline, Company President and CEO Venkat Sharma said.

The Company said it had acquired from an undisclosed amount Tidewater Medical Transcription Services Incorporated, currently serving medical clinics in Virginia and North Carolina, for deeper penetration in the US and to utilise its network to complement its large, scalable workforce of 1000 in India, which was likely to be ramped up to 1500 over the next six months.

With its combination of innovative technology coupled with a scalable back-office infrastructure in India and the US, iMedX s now positioned to rapidly expand its product and service offering of complete medical transcription technology and outsourcing services to healthcare providers throughout the US.

With Internet based transcription market likely to generate USD 10 billion globally, the Company, which had investment from the Andhra Pradesh Industrial Development Corporation's (APIDC) Venture Fund, also planed an IPO in India over the next two years.

UNI