MONTGOMERYVILLE, Pa.--(Business Wire)--
PhotoMedex (Nasdaq:PHMD) has ranked number 22 on the 2009 Greater Philadelphia
Fast 50, Deloitte`s ranking of the 50 fastest growing technology, life sciences
and cleantech companies in the area. Rankings are based on percentage of fiscal
year revenue growth during the five year period from 2004 - 2008.
Dennis McGrath, PhotoMedex`s CEO said, "I am very pleased to note that
PhotoMedex has once again placed in the prestigious Greater Philadelphia Fast 50
program. This ongoing achievement is indicative of the determination and drive
embodied by the staff and Board of Directors of the Company. We are committed to
the Science of Skin Health in both photoaging and disease management and are
constantly striving to bring novel solutions to unmet patient needs. This level
of energy and dedication drives revenues, forges relationships, delivers on
promises and improves the bottom line for both our company and our clients. Most
importantly, we attribute our success to the deeply rooted partnerships we`ve
molded with worldwide physician practices that have adopted our best-in-class
technologies, which have been conceived by some of the most creative luminary
minds in dermatological medicine. In short, I view this achievement as a
collective effort, and it is my great pleasure to take this opportunity to
express my gratitude."
"With its impressive 96% five-year growth, PhotoMedex has earned its position
among the fastest growing technology, life sciences and clean technology
companies in the Greater Philadelphia region," said Michael Purcell, partner,
Deloitte & Touche LLP. "Deloitte is proud to honor PhotoMedex for its
achievement."
To qualify for the Technology Fast 50, companies must have base-year operating
revenues of at least $50,000, and current-year operating revenues of at least $5
million. Additionally, companies must be in business for a minimum of five
years, and be headquartered in the Greater Philadelphia Region. Eligibility
requirements also stipulate that the Company own proprietary technology or
proprietary intellectual property that contributes to a significant portion of
the company`s operating revenues; or devotes a significant proportion of
revenues to the research and development of technology. Using other companies`
technology or intellectual property in a unique way does not qualify.
About PhotoMedex
PhotoMedex develops proprietary excimer laser and fiber optic systems and
techniques directed toward dermatological applications, with FDA 510(k)
clearances to market the XTRAC® laser system for the treatment of psoriasis,
vitiligo, atopic dermatitis and leukoderma. The Company is a leader in the
development, manufacturing and marketing of medical laser products and services.
PhotoMedex also develops and markets products based on DNA Repair and its
patented, clinically proven Copper Peptide technology for skin health, hair care
and wound care. PhotoMedex sells directly to dermatologists, plastic and
cosmetic surgeons, and salons. ProCyte brands include Neova®, Ti-Silc®,
VitalCopper®, Simple Solutions® and AquaSanté®.
In addition, as a result of the recent merger with PhotoTherapeutics, PhotoMedex
now researches, develops and manufactures non-laser light devices for the
treatment of clinical and aesthetic dermatological conditions and adds the
Omnilux products to its portfolio. The Omnilux products incorporate a new
technology based on narrowband Light Emitting Diodes (LEDs) to treat a wide
range of dermatological conditions including acne, photodamage, and skin
rejuvenation.
About Deloitte:
"Deloitte" is the brand under which tens of thousands of dedicated professionals
in independent firms throughout the world collaborate to provide audit,
consulting, financial advisory, risk management, and tax services to selected
clients. These firms are members of Deloitte Touche Tohmatsu (DTT), a Swiss
Verein. Each member firm provides services in a particular geographic area and
is subject to the laws and professional regulations of the particular country or
countries in which it operates. DTT helps coordinate the activities of the
member firms but does not itself provide services to clients. DTT and the member
firms are separate and distinct legal entities, which cannot obligate the other
entities. DTT and each DTT member firm are only liable for their own acts or
omissions, and not those of each other. Each of the member firms operates under
the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other
related names. Each DTT member firm is structured differently in accordance with
national laws, regulations, customary practice, and other factors, and may
secure the provision of professional services in their territories through
subsidiaries, affiliates and/or other entities.
Company Contact:
PhotoMedex, Inc.
Dennis McGrath, CEO, 215-619-3287
info@photomedex.com
or
Investor Contacts:
Lippert/Heilshorn & Associates, Inc.
Kim Sutton Golodetz, 212-838-3777
Kgolodetz@lhai.com
or
Bruce Voss, 310-691-7100
Bvoss@lhai.com
Copyright Business Wire 2009
