CardioNet Ranked 288th Fastest Growing Company in North America on Deloitte’s 2009 Technology Fast 500
October 27 2009 - 4:29PM
Business Wire
CardioNet, Inc. (NASDAQ:BEAT) announced today that it ranked
288th on Deloitte’s 2009 Technology Fast 500™, a ranking of the 500
fastest technology, media, telecommunications, life sciences and
clean technology companies in North America. The Company also
announced that it ranked 13th on Deloitte’s Fast 50 companies in
the Greater Philadelphia region. Rankings are based on percentage
of fiscal year revenue growth over five years, from 2004 to 2008.
CardioNet’s revenue grew 442 percent during this period.
Randy Thurman, CardioNet Chairman, President and CEO, commented,
“It is an honor to be included in Deloitte’s Technology Fast 500
for 2009. CardioNet has quickly and successfully transitioned from
an entrepreneurial start-up to a leader in the field of wireless
medicine and mobile cardiovascular telemetry. Our strong growth is
a direct result of the dedication and hard work of our employees
and the clinically proven superiority of our products with over
$120 million in annual revenues in 2008.”
“Technology Fast 500™ recognizes innovative companies that have
broken down barriers to success and defied the odds with their
remarkable five-year revenue growth,” said Phil Asmundson, Vice
Chairman and U.S. Technology, Media and Telecommunications Leader,
Deloitte LLP. “We congratulate CardioNet on this achievement.”
“With its impressive five-year growth, CardioNet has earned its
position among the fastest growing technology, media,
telecommunications, life sciences and clean technology companies in
North America,” said Mark Jensen, Managing Partner, Technology and
Venture Capital Services, Deloitte & Touche LLP. “Deloitte is
proud to honor CardioNet for its achievement.”
Technology Fast 500™ Selection and Qualifying
Criteria
Technology Fast 500™ provides a ranking of the fastest growing
technology, media, telecommunications, life sciences and clean
technology companies in North America. This ranking is compiled
from nominations submitted directly to the Technology Fast 500™ web
site, and public company database research conducted by Deloitte.
Technology Fast 500™ award winners for 2009 are selected based on
percentage fiscal year revenue growth during the five-year period
from 2004 to 2008.
In order to be eligible for Technology Fast 500™ recognition,
companies must own proprietary technology that contributes to a
significant portion of the company’s operating revenues. Using
other companies’ technology or intellectual property in a unique
way does not satisfy this requirement. Consulting companies,
professional service firms, etc. are not eligible unless they have
proprietary technology that contributes to a significant portion of
their operating revenues.
Technology Fast 500™ award eligibility requirements also include
base-year operating revenues of at least $50,000 USD or CD, and
current-year operating revenues of at least $5 million USD or CD.
These revenues must have more than doubled between 2004 and 2008.
Additionally, companies must be in business for a minimum of five
years, and be headquartered within North America.
About CardioNet
CardioNet is the leading provider of ambulatory, continuous,
real-time outpatient management solutions for monitoring relevant
and timely clinical information regarding an individual's health.
CardioNet's initial efforts are focused on the diagnosis and
monitoring of cardiac arrhythmias, or heart rhythm disorders, with
a solution that it markets as Mobile Cardiac Outpatient Telemetry™
(MCOT™). More information can be found at
http://www.cardionet.com.
About Deloitte
As used in this document, “Deloitte” mean Deloitte LLP. Please
see www.deloitte.com/about for a detailed description of the legal
structure of Deloitte LLP and its subsidiaries.
Forward Looking Statements
This press release includes certain forward-looking statements
within the meaning of the "Safe Harbor" provisions of the Private
Securities Litigation Reform Act of 1995 regarding, among other
things, our growth prospects, the prospects for our products and
our confidence in the Company's future. These statements may be
identified by words such as "expect," "anticipate," "estimate,"
"intend," "plan," "believe," "promises" and other words and terms
of similar meaning. Such forward-looking statements are based on
current expectations and involve inherent risks and uncertainties,
including important factors that could delay, divert, or change any
of them, and could cause actual outcomes and results to differ
materially from current expectations. These factors include, among
other things, the success of our sales and marketing initiatives,
our ability to attract and retain talented executive management and
sales personnel, our ability to identify acquisition candidates,
acquire them on attractive terms and integrate their operations
into our business, the commercialization of new products, market
factors, internal research and development initiatives, partnered
research and development initiatives, competitive product
development, changes in governmental regulations and legislation,
changes to reimbursement levels for our products, the continued
consolidation of payors, acceptance of our new products and
services and patent protection and litigation. For further details
and a discussion of these and other risks and uncertainties, please
see our public filings with the Securities and Exchange Commission,
including our latest periodic reports on Form 10-K and 10-Q. We
undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
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