AMSTERDAM and ATLANTA, Aug. 18, 2016 /PRNewswire/ -- Royal Philips (NYSE: PHG, AEX: PHIA) today announced that its Wellcentive business, a leader in value-based care solutions, has been named to Inc. magazine's 34th annual list of America's fastest-growing private companies. Based on a three-year growth rate through 2015, the recognition was awarded to Wellcentive prior to being acquired by Royal Philips. Wellcentive ranks No. 947 on this year's list.
The 2016 Inc. 5000 rankings are based on percentage of revenue growth from 2012 to 2015 for companies privately held as of Dec. 31, 2015.
"Since our inception, we have cultivated a robust culture of collaboration with our customers toward their transformational success in value-based care and population health management," said Tom Zajac, Business Leader Population Health Management, Philips. "We are particularly pleased to be part of the Inc. 5000 list this year, given the timing of our major growth announcement with Philips. It's a testament to everyone at Wellcentive dedicated to the concept of continuous health."
Qualifying companies are those founded and generating revenue as of March 31, 2012 that are U.S.-based, privately held, for profit and independent, as of December 31, 2015. Since then, a number of companies on the list, like Wellcentive, have announced an initial IPO, been acquired or merged.
"The Inc. 5000 list stands out where it really counts," said Inc. President and Editor-In-Chief Eric Schurenberg. "It honors real achievement by a founder or a team of them. No one makes the Inc. 5000 without building something great – usually from scratch. That's one of the hardest things to do in business, as every company founder knows. But without it, free enterprise fails."
The complete list of the 2016 Inc. 5000 can be found at www.inc.com/inc5000.
Since 2005, Wellcentive has driven quality improvement, revenue growth and business transformation for providers, health systems, employers and payers transitioning to value-based care. Our highly scalable, cloud-based and value-driven population health management solution provides long-term partnership services to impact clinical, financial and human outcomes. Recognized as a leader in population health management in reports by IDC Health, KLAS and Chilmark, Wellcentive helps our customers provide care management for more than 30 million patients and achieve more than $500 million annually in value-based revenue.
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. The company, headquartered in the Netherlands, is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips' health technology portfolio generated 2015 sales of EUR 16.8 billion and employs approximately 69,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.