WESTBURY, N.Y., Nov. 15, 2012 /PRNewswire/ -- Vasomedical, Inc. ("Vasomedical") (OTCQB: VASO), a diversified medical technology company specializing in the design, manufacture and sale of medical devices for noninvasive cardiology including EECP® systems, the gold standard of ECP therapy, announced today that it was named to Deloitte's Technology Fast 500™, a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
The Deloitte Technology Fast 500™ are selected based on percentage fiscal year revenue growth from 2007 to 2011. Vasomedical's revenue grew 158 percent during the period.
"We are honored to be included in Deloitte's prestigious Technology Fast 500 list of companies for 2012," said Dr. Jun Ma, President and Chief Executive Officer of Vasomedical, Inc. "Our inclusion in this exciting group highlights the development our Company has been experiencing as we continue to implement our growth strategy, which includes product and business diversification, as well as strong support from medical providers of our EECP Therapy, a non-invasive heart disease treatment."
Vasomedical will appear on the Technology Fast 500™ list on www.fast500.com.
Vasomedical, Inc. is a diversified medical technology company specializing in the manufacture and sale of medical devices and in the domestic sale of diagnostic imaging products. The Company's main proprietary products are EECP® Therapy systems, the gold standard of ECP treatment. The Company operates through three wholly owned subsidiaries: VasoSolutions, Vasomedical Global and VasoHealthcare. VasoSolutions manages and coordinates the design, manufacture and sales of EECP® Therapy systems, and other medical equipment operations; Vasomedical Global operates the Company's China-based subsidiaries; and VasoHealthcare is the operating subsidiary for the exclusive sales representation of GE Healthcare diagnostic imaging products. Additional information is available on the Company's website at www.vasomedical.com.
Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as "anticipates", "believes", "could", "estimates", "expects", "may", "plans", "potential" and "intends" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the effect of the dramatic changes taking place in the healthcare environment; the impact of competitive procedures and products and their pricing; medical insurance reimbursement policies; unexpected manufacturing or supplier problems; unforeseen difficulties and delays in the conduct of clinical trials and other product development programs; the actions of regulatory authorities and third-party payers in the United States and overseas; uncertainties about the acceptance of a novel therapeutic modality by the medical community; continuation of the GEHC agreement; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to update forward-looking statements as a result of future events or developments.
About Deloitte's 2012 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private - in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have 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. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
SOURCE Vasomedical, Inc.