Date:25/04/2003 URL: http://www.thehindu.com/2003/04/25/stories/2003042501531707.htm

Business - Monitor

CBay Systems closes $2.5m CD issue

CHENNAI: CBay Systems, a leading healthcare business process outsourcing firm has closed a $2.5 million convertible debenture with GMO Emerging Markets Fund. This provides CBay with the working capital necessary to complete its 2003 growth target of $25 million, according to V. Raman Kumar, Chairman.