WESTBURY, N.Y., Nov. 13, 2013 /PRNewswire/ -- Vasomedical, Inc. ("Vasomedical") (OTC BB: VASO), a diversified medical technology company specializing in the design, manufacture and sale of medical devices for noninvasive cardiology, including EECP® Therapy systems, the gold standard of ECP therapy, today announced it has been named to the Deloitte's Technology Fast 500™ for the second consecutive year, with a ranking of 207 on the 2013 list, up from 443 on the 2012 list.
The Deloitte's Technology Fast 500 List is an annual ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. The ranking is based on percentage annual revenue growth from 2008 to 2012, during which Vasomedical's total annual revenue increased by 501.2 percent.
"Vasomedical's success over the past several years is clearly a direct result of effective implementation of the strategy the Board of Directors put into place. This includes diversifying our business, broadening our product offering and market presence through development and acquisition, as well as restructuring the leadership team with individuals with deep industry experience," commented Dr. Jun Ma, President and CEO of Vasomedical, Inc.
"We are pleased to be included on this list of prestigious companies, and this honor highlights the strides our Company has made in the right direction. We will continue to implement our growth strategy in the domestic and international medical marketplaces and continue to build value for our shareholders."
"The Deloitte's 2013 Technology Fast 500 companies are exemplary cases of those spurring growth in a tough market through innovation," said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. "This year's list is a who's who of companies behind the most exciting and innovative products and services in the technology space. We congratulate the Fast 500 companies and look forward to what they do next."
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 in certain market segments. 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.
SOURCE Vasomedical, Inc.