PORTLAND, Ore., Nov. 21, 2016 /PRNewswire/ -- Semler Scientific, Inc. (OTCQB: SMLR), an emerging growth company that provides technology and software solutions to improve the clinical effectiveness of healthcare insurers and physician groups, today announced it ranked No. 176 on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, life sciences and energy tech companies in North America (United States and Canada). This ranking made Semler the 9th fastest growing company in the Medical Device category according to Deloitte. This year's Technology Fast 500™ award winners were selected based on percentage fiscal year revenue growth from 2012 to 2015. Over this period, Semler's revenue growth was 484%.
"We appreciate Deloitte's recognition of Semler's revenue growth. We continue to expand our QuantaFlo™ customer base, steadily increasing our recurring revenue, and are focused on continuing to reduce our net operating loss, and are nearing profitability," said Dr. Murphy-Chutorian, chief executive officer of Semler. "Our desire is to become the standard of care for testing to identify patients at risk for heart attacks and strokes to enable better preventive medical care," he added.
The major accomplishments of 2016 to date are as follows:
- Increased the established base of QuantaFlo™ installations with large health insurance company customers.
- Continued migrating customers to QuantaFlo™ from its lower-priced predecessor product.
- Contracted with home risk assessment companies to use QuantaFlo™ in their businesses.
For the remainder of 2016, revenue from QuantaFlo™ is expected to continue to grow due to an increasing number of installations, higher average pricing and the recurring revenue business model.
About Deloitte's 2016 Technology Fast 500™
Deloitte's Technology Fast 500™ provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies – both public and private – in North America. Technology Fast 500™ award winners are selected based on percentage fiscal year revenue growth from 2012 to 2015. Overall, 2016 Technology Fast 500™ companies achieved revenue growth ranging from 121 percent to 66,661 percent from 2012 to 2015, with median growth of 290 percent.
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, and current-year operating revenues of at least $5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Semler Scientific, Inc.:
Semler Scientific, Inc., is an emerging growth company that provides technology and software solutions to improve the clinical effectiveness of healthcare insurers and physician groups. Its mission is to develop, manufacture and market innovative proprietary products and services that assist its customers in evaluating and treating chronic diseases. Semler Scientific's first patented and U.S. Food and Drug Administration, or FDA, cleared product, introduced commercially in 2011, measured arterial blood flow in the extremities to aid in the diagnosis of peripheral arterial disease. In March 2015, Semler Scientific received FDA 510(k) clearance for the next generation version of this product named QuantaFlo™, which was commercially launched in August 2015 to more comprehensively evaluate its customers' patients for risk of heart attacks and strokes. Semler Scientific believes it is positioned to provide valuable information to its insurance company and physician customers, which in turn permit them to better guide patient care. Additional information about Semler Scientific can be found at semlerscientific.com.
This press release contains "forward-looking" statements. Such statements can be identified by, among other things, the use of forward-looking language such as the words "may," "will," "expect," "anticipate," "estimate," "project," "would," "could" or words with similar meaning or the negatives of these terms or by the discussion of strategy or intentions. The forward-looking statements in this release include statements regarding achieving profitability and expanding , revenue growth from QuantaFlo™ business.. Such forward-looking statements are subject to a number of risks and uncertainties that could cause Semler Scientific's actual results to differ materially from those discussed here, such as whether or not insurance plans and other customers will continue to lease its cardiovascular testing products, along with those statements detailed in Semler Scientific's SEC filings, and involve assumptions, estimates, and uncertainties that reflect current internal projections, expectations or beliefs. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. All forward looking statements contained in this press release are qualified in their entirety by these cautionary statements and the risk factors described above. Furthermore, all such statements are made as of the date of this release and Semler Scientific assumes no obligation to update or revise these statements unless otherwise required by law.
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SOURCE Semler Scientific, Inc.