Vertos Medical, Inc. Ranked Number 370 Fastest-Growing Company in North America on the 2023 Deloitte Technology Fast 500™
Attributes the company's remarkable 343% revenue growth to its innovation and unwavering commitment to enhancing the quality of patients' lives.
ALISO VIEJO, Calif., Nov. 8, 2023 /PRNewswire/ -- Vertos Medical today announced it ranked 370 on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 29th year. Vertos Medical grew 343% between 2019 and 2022.
Vertos Medical's Chief Executive Officer, Eric Wichems, credits the company's tremendous 343% revenue growth during this period to the team's unwavering commitment to delivering a treatment option for patients with lumbar spinal stenosis, while experiencing an increase in demand for the groundbreaking mild® Procedure. A successful $26 million Series C equity funding round in June bolstered the company's commercial expansion, and the promotion of two senior leaders to C-Suite roles will further drive product innovation and patient access.
Wichems said, "We're honored to receive recognition for a second year in a row as one of North America's fastest-growing companies. What is truly meaningful is that we've had the ability to improve the quality of life for thousands of patients through collaboration with our healthcare partners. I take immense pride in our team's exceptional performance; none of this would have been achievable without the profound dedication of each employee, driven by a deep passion to better the lives of millions of patients grappling with chronic low back pain."
Vertos Medical previously ranked 384 as a Technology Fast 500 award winner for 2022. Overall, the 2023 Technology Fast 500 companies achieved revenue growth ranging from 201% to 222,189% over the three-year time frame from 2019 to 2022, with an average growth rate of 1,934% and a median growth rate of 497%.
About the 2023 Deloitte Technology Fast 500
Now in its 29th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, 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 2019 to 2022.
In order to be eligible for Technology Fast 500 recognitions, 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 US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Vertos Medical Inc. and the mild® Procedure
Vertos Medical is an interventional pain company committed to developing innovative, minimally invasive treatments for lumbar spinal stenosis (LSS). mild®, its proprietary technology, is an image-guided outpatient procedure that removes a major root cause of lumbar spinal stenosis (LSS) through an incision smaller than the size of baby aspirin and doesn't require implants, general anesthesia, or stitches. The mild® Procedure has been clinically demonstrated to have safety outcomes similar to injections with durability out to 5 years, and patients typically return to activities of daily living within 24 hours with no restrictions. mild® is nationally covered by Medicare. Vertos Medical headquarters is located in Aliso Viejo, CA. To learn more and view clinical data, visit www.Vertosmed.com.
About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's approximately 457,000 people worldwide connect for impact at www.deloitte.com.
CONTACT:
Heidi Younan, Vertos Medical
[email protected]
(949) 349-0008
SOURCE Vertos Medical Inc.
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