Sep 3 2009
eCardio announced today their inclusion on the Inc. magazine's annual list of America's fastest-growing private companies - the Inc. 500. Inc. magazine released the list on Wednesday, August 12. eCardio was included in the top quarter as #117 with a three-year sales growth of 1,424%.
"If you want to know which companies are going to change the world, look at the Inc. 500," said Inc. editor Jane Berentson. "These are the most dynamic, fast-growth companies in the nation, the ones finding innovative solutions to problems, creating smart systems, and inventing products we soon discover we can't live without. The Inc. 500 list is Inc. magazine's tribute to American business ingenuity and ambition."
Since the inception of the company in 2004, eCardio has experienced significant growth. From 2005 to 2006, eCardio doubled the size of the staff, from 19 to 44 employees and between 2006 and 2007, the company's ranks doubled again, growing to 99 staff members. Since the beginning of 2009, eCardio has continued this growth trend and currently employs over 300 technicians, customer service representatives, billing and reimbursement specialists, inventory support staff and corporate managers.
"eCardio is honored to be recognized on the Inc. 500," noted Larry Lawson, President and Chief Executive Officer. "eCardio's growth is the result of offering physicians a quality diagnostic tool which enables them to make a precise diagnosis and enhance the follow-up and management of their patients. eCardio is a time saver for doctors and a life saver for patients."
This announcement comes on the heels of awards presented to eCardio earlier this year including the Fast Tech 50, which recognized high-growth technology companies in the Houston area, and President Larry Lawson's recognition as Ernst & Young's Entrepreneur of the Year in the Health Sciences category.
Methodology
The 2009 Inc. 500 measures revenue growth from 2005 through 2008. To qualify, companies must have been founded and generating revenue by the first week of 2005, and therefore able to show four full calendar years of sales. Additionally, they had to be U.S.-based, privately held, for profit, and independent--not subsidiaries or divisions of other companies--as of December 31, 2008. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2005 is $200,000; the minimum for 2008 is $2 million.