Cbay Systems

Multi-Scope Engagement

KPMG Corporate Finance advised CBay Systems Ltd. (“CBay” or the “Company”) on its private placement of equity securities to Kingdon Capital Partners and TDA Capital. As part of a broader advisory role, KPMG Corporate Finance is advising the Company on several horizontal and vertical strategic acquisitions and is evaluating alternative sources of debt capital.

The Company

CBay provides medical transcription and document management services to healthcare providers in the U.S. The Company’s transcription services are provided by offshore vendors in India, while marketing efforts are performed by a US-based business development team.

The Situation

After attracting seed and angel capital from international investors, CBay sought institutional capital to fuel its growth strategy and enhance its capital structure. CBay’s growth strategy includes significant organic growth complemented by key strategic acquisitions. To date, the Company has executed two Letters of Intent and will close the acquisitions in the third quarter.

The Solution

KPMG Corporate Finance worked closely with CBay on the successful closing of their first U.S. equity round and has provided guidance to the Company in all aspects of corporate finance and strategic advisory. These services include financial modeling, preparation of offering materials, management of investor meetings, drafting and structuring of transaction documents, and transaction negotiation support.