By IANS
Chennai : Global healthcare, legal and publishing business process outsourcing (BPO) company SPi is looking out for suitable acquisitions in India.
Ernest L. Cu, president and chief executive officer of the Philippines-headquartered Spi, said the company has allocated $50 million for mergers and acquisitions.
The company is in talks with investment bankers and is considering several proposals, Cu said while addressing the media here Wednesday.
According to Cu, SPi plans to move its medical billing work to India from the US. He said the setting up of new delivery centre in Chennai and the cost differential between the US and India has made the company favour shifting of medical billing business to Chennai in eight months. The business has the potential to create 150 new jobs.
SPi Technologies inaugurated its new 17,000 sq ft facility in the city Wednesday. The 1,100-seat facility will house the company's publishing and healthcare business operations. The new centre will be the company's fourth in the country after Pondicherry, Coimbatore and New Delhi.
Cu said the Indian company would increase its headcount by 700 by the end of this year.
In 2003, SPi through its wholly owned Indian subsidiary SPi Technologies Private Ltd acquired the Pondicherry-based Kolam Information Services Private Ltd, a book publishing BPO. Two years later, it acquired the medical transcriptions business of KG Information Services and Technologies Private Ltd in Coimbatore.