MINNEAPOLIS – October 1, 2004 – QRS Diagnostic, leader in innovative design and development of software-based medical devices in computer cards, announced today that it ranks 26th in Deloitte’s prestigious Technology Fast 50 Program for Minnesota, a ranking of the fifty fastest growing technology companies in the area by Deloitte & Touche LLP, one of the nation’s leading professional services firms. Rankings are based on percentage growth in fiscal year revenues over five years, from 1999 to 2003. QRS grew its revenues by 233 percent to attain its ranking.
“This is the second consecutive year that we’ve made the Fast 50 list,” said Spencer Lien, chief executive officer, QRS. “Integration of our computer card medical device technology with electronic medical record systems and other enterprise health care IT systems has opened new opportunities for business partnerships. And with our U.S. and international patents, QRS continues to grow our distribution channels and expand sales in Europe, Australia and Japan.”
“To make the Deloitte Technology Fast 50, companies in Minnesota must have achieved tremendous revenue growth from 1999 to 2003,” said Ron Hafner, partner, Deloitte & Touche LLP. “Deloitte applauds QRS Diagnostic for having the long-term vision to develop technology that delivers on its promise.”
To qualify for the Minnesota Technology Fast 50, companies must have had operating revenues of at least $50,000 in 1999 and $1,000,000 in 2003, must be public or private companies headquartered in Minnesota, and be a “technology company” defined as owning proprietary technology that contributes to a significant portion of the company’s operating revenues (using other companies’ technology in a unique way does not qualify); and/or devoting a significant proportion of revenues to research and development of technology.
Winners of the 18 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology companies. For more information on the Deloitte Technology Fast 50 or Fast 500 programs, visit www.fast500.com.
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About QRS Diagnostic
Founded in 1994, QRS Diagnostic, Plymouth, Minn., uses innovative software technology to design and develop FDA-approved medical devices that simplify and reduce the costs of diagnostic testing and patient monitoring. With our patented computer card technology platform, QRS turns PDAs, laptops and handheld PCs into modular, upgradeable and portable medical devices and streamlines the collection and communication of precise physiological data. We enable primary care physicians to cost-effectively practice high-tech medicine while delivering the accuracy that specialists and hospitals demand. The affordability, durability and mobility of QRS devices also advance patient monitoring for home health care, disease management, and personal health management. For more information on QRS, please visit www.QRSdiagnostic.com.