DENVER, Nov. 17, 2015 /PRNewswire/ -- Today Welltok, a leading consumer health platform as a service (PaaS) company, announced it ranked #50 on Deloitte's Technology Fast 500™, a listing of the fastest growing companies in North America. Welltok grew 1,868 percent during a three-year period, ranking #19 among software companies and #3 in the Colorado market.
"Welltok's rapid growth and success is attributed to our innovative clients who recognized the need for a consumer health enterprise PaaS solution designed to complement existing clinical and benefits platforms. CafeWell, the Third Essential Platform in healthcare, personalizes and integrates resources and programs for consumers to manage their daily health, and get rewarded for doing so," said Jeff Margolis, chairman and chief executive officer for Welltok. "We look forward to working with more population health managers who are at the forefront of the consumer revolution in healthcare – seeking to optimize the health of their consumers, while also realizing significant enterprise value."
The CafeWell Health Optimization Platform™ delivers a personalized health experience that engages, activates and rewards consumers. The platform organizes the growing spectrum of health improvement and condition management resources, obtains unparalleled consumer insights through advanced analytics, and leverages cognitive computing to create personalized, adaptive health itineraries. It helps consumers become as healthy as they can be by controlling existing conditions, preventing illness and improving overall health, and helps population health managers improve operational efficiencies, increase revenue and drive greater healthcare value across the board.
The Deloitte Fast 500 ranking comes on the heels of notable activity for the company, including strategic partnerships and acquisitions. The company recently announced it entered the large employer market with IBM and rolled out the first cognitive health app to IBM employers. Year to date, the company acquired Predilytics, a leading predictive analytics company, and Zamzee, an evidence-based kids health program, to accelerate the growth and development of its consumer health enterprise platform.
This is the second fastest growing company list Welltok has debuted on in 2015. Welltok was also ranked #235 on the Inc. 5000 list, placing it among the top five percent of the nation's fastest growing private companies.
The Deloitte Technology Fast 500 list is the leading technology awards program in North America, ranking the fastest growing companies in technology, media, telecommunications, life sciences and energy tech. Companies must meet a list of criteria, including minimum base year operating revenues of at least $50,000 and current year operating revenues of at least $5 million. The list is compiled from submitted nominations and public company database research conducted by Deloitte LLP.
Welltok Inc., developer of the healthcare industry's first consumer enterprise platform, is transforming the way population health managers guide and incentivize consumers to optimize their health. The CafeWell Health Optimization Platform organizes the growing spectrum of health improvement and condition management resources, obtains unparalleled consumer insights through advanced analytics, and leverages cognitive computing to create personalized, adaptive health itineraries. Health plans and other sponsors now have an efficient and effective way to engage, activate and reward consumers, which drives greater healthcare value across all types of populations, from kids to seniors. Follow Welltok on Twitter @Welltok.
About Deloitte's 2015 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 2011 to 2014.
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 four years and be headquartered within North America.
Erica Sniad Morgenstern
SOURCE Welltok, Inc.