Inc. Magazine recognized at least one wireless health-focused company as among the fastest growing companies in the U.S. by revenue. eCardio Diagnostics was ranked the 117th fastest growing company in the U.S. with $21.4 million in revenue for 2008 and three year sales growth of 1,424 percent. eCardio was the 11th fastest growing health-focused company in the country, according to the magazine. eCardio creates technology solutions for the "diagnosis, monitoring and subsequent clinical management of cardiac arrhythmias, predominantly in an ambulatory setting."
eCardio, which was founded in 2004, sent out a press release with more details of the company's quick growth: "From 2005 to 2006, eCardio doubled the size of the staff, from 19 to 44 employees and between 2006 and 2007, the company's ranks doubled again, growing to 99 staff members. Since the beginning of 2009, eCardio has continued this growth trend and currently employs over 300 technicians, customer service representatives, billing and reimbursement specialists, inventory support staff and corporate managers."
Inc. Magazine's Inc. 500 list for 2009 ranked companies by revenue growth between 2005 and 2008. Companies had to be founded by the beginning of 2005, US-based, privately-held, for-profit and independent as of the end of 2008. The companies also had to have brought in at least $200,000 in revenue during 2005 and at least $2 million in revenue in 2008.
The awards provide a sometimes rare insight into the financial metrics of successful start-ups.