CardioNet Ranked 288th Fastest Growing Company in North America on Deloitte`s 2009 Technology Fast 500

Tue Oct 27, 2009 4:29pm EDT
 
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CONSHOHOCKEN, Pa.--(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.

CardioNet, Inc.
Marty Galvan
Investor Relations
800-908-7103
investorrelations@cardionet.com



Copyright Business Wire 2009

 

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