QRS Diagnostic Ranks 25th Among MinnesotaÂ’s Fastest Growing Technology Companies
Deloitte & Touche Fast 50 Program Rankings Released
(PRWEB) September 28, 2003
MINNEAPOLIS – September 29, 2003 – QRS Diagnostic, leader in innovative design and development of software-based medical devices contained in computer cards, announces that it ranks 25th among Minnesota’s fastest growing technology companies, according to the Deloitte & Touche Technology Fast 50 program. The Fast 50 rankings are based on percentage growth in revenues from 1998 to 2002.
QRS Diagnostic has achieved 300 percent revenue growth over the past five years. Spencer Lien, chief executive officer, credits the basic soundness of the companyÂ’s business strategy and the strength of its patented medical device technology for the success of QRS.
“QRS Diagnostic focuses on high-volume diagnostic procedures, such as pulmonary function tests and electrocardiography, that physicians perform every day and for which all insurers pay,” said Lien. “With our patented computer card technology platform, we develop upgradeable, affordable computer card devices for these tests that turn off-the-shelf PDAs and handheld PCs into full-function, mobile diagnostic workstations.”
“To rank on the Deloitte & Touche Technology Fast 50, companies must have phenomenal revenue growth in the five-year period,” said Ron Hafner, Deloitte & Touche partner. “QRS Diagnostic has proven to be one of the fast-growth success stories in Minnesota, and we applaud their success and vision.”
To qualify for the Fast 50, companies must have had operating revenues of at least $50,000 in 1998 and $1.0 million in 2002; must be public or private companies headquartered in Minnesota; and must be technology companies, defined as companies that own proprietary technology, manufacture a technology product, or devote a high percentage of effort to the research and development of technology. For more information on the Deloitte & Touche Fast 50 or Fast 500 programs, visit www. Fast50.com.
About Deloitte & Touche
Deloitte & Touche, one of the nation’s leading professional services firms, provides assurance and advisory, tax, and management consulting services through nearly 30,000 people in more than 80 U. S. cities. The firm is dedicated to helping its clients and its people excel. Known as an employer of choice for innovative human resources programs, Deloitte & Touche has been recognized as one of the “100 Best Companies to Work for in America” by Fortune magazine for six consecutive years. Deloitte & Touche refers to Deloitte & Touche LLP and related entities. Deloitte & Touche is the U. S. national practice of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity. For more information, please visit Deloitte & Touche’s Web site at www. deloitte. com/us (http://www. deloitte. com/us).
About QRS Diagnostic
Founded in 1994, QRS Diagnostic, Plymouth, Minn., uses innovative software technology to design and develop FDA-approved medical devices that simplify and reduce the costs of diagnostic testing and patient monitoring. With our patented computer card technology platform, QRS turns PDAs, handheld PCs and laptops into modular, upgradeable and portable medical devices and streamlines the collection and communication of precise physiological data. We enable primary care physicians to cost-effectively practice high-tech medicine while delivering the accuracy that specialists and hospitals demand. The affordability, durability and mobility of QRS devices also advance patient monitoring for home health care, disease management and personal health management. For more information on QRS, please visit www. QRSdiagnostic. com.
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