The BOI approved the project under the 2006 Investment Priorities Plan (IPP) under preferred activities of information and communications technology and IT-enabled services.
BOI registration would entitle Multi-Scribe to fiscal incentives including income tax holiday and duty-free importation of capital equipment.
Multi-Scribe will engage in medical transcription services involving typing of documents from dictated recordings by health professionals of any type of medical treatment, procedure, diagnostic tests, etc.
The company plans to hire around 116 Filipino transcriptionists who will review, proof-read, and verify the taped recordings to ensure accuracy.
The total cost of the project is P3.607 billion which will cover IT equipment, office equipment, leasehold improvement, furniture and fixtures and working capital.
Multi-Scribe will export 100 percent of its transcription services to doctors, private medical practitioners, small clinics and hospital in the United States.
It will conduct business at the second floor of the M&L Building along Visayas Avenue Corner Road 1, Quezon City.
Being a service-type activity, Multi-Scribe will be exempted from the locational restriction policy of the BOI.
It started operation last month.