Talyst makes its debut on the “Inc. 500” list of fastest-growing U.S. private companies
Annual rankings place Talyst #161 overall and #12 among health care companies
Bellevue, Wash., Aug. 23, 2007— Inc. magazine today announced its annual “Inc. 500” ranking of the fastest-growing private companies in the country (www.inc.com/inc500). Talyst, a leading provider of pharmacy automation solutions, made its first appearance on the list, ranked number 161, based on a three-year compounded revenue growth rate of 1,236.3 percent.
This reflects the company’s growth from revenues of $1.3 million in 2003 to $17.8 million last year.
“Medication safety and runaway costs are serious issues in our healthcare system, and addressing these issues is at the root of Talyst’s growth,” according to James E. Torina, chairman and chief executive officer. “Our products help pharmacies order, track and deliver medications, while increasing safety, enhancing patient service and controlling costs.”
Talyst now serves more than 250 hospitals, medical centers and integrated healthcare delivery networks, and is developing applications and workflow improvements for other pharmacy environments. The company’s systems are used to prepare and deliver an estimated one million medication doses per day.
“We especially thank our forward-thinking healthcare customers for their tireless commitment to eliminating medical errors and controlling costs,” Torina said. “In the acute-care sector, our customers have helped establish bedside medication scanning as a standard of care from which all patients will someday benefit. In the extended-care market, our customers are working with us to re-engineer a safer, more cost-effective medication distribution process for long-term care and assisted living facilities.”
“Talyst colleagues and business partners have worked passionately to deliver the thought leadership, innovation and service that make this growth possible,” Torina added.
The 2007 Inc. 500 list measures revenue growth from 2003 through 2006. To qualify, companies had to be U.S.-based and privately held, independent – not subsidiaries or divisions of other companies – as of December 31, 2006, and have had at least $200,000 in revenue in 2003, and $2 million in 2006.
About Talyst
Talyst enables the intelligent pharmacy. The company provides automated systems to hospitals and other centralized pharmacies, to reduce costs and increase productivity, while improving accuracy and patient safety. Its equipment and software are used to package, barcode, store and track drug inventories. For more information, see www.talyst.com or call 877-4-Talyst (877-482-5978).
Last November, the company received $20 million in growth funding, co-led by Ignition Partners and OVP Venture Partners. Earlier this year, Talyst was named to Fast Company magazine’s “Fast 50 Reader Favorites” list, honoring innovative, progressive enterprises.
Talyst and Engineering the Intelligent Pharmacy are trademarks of Talyst. Other trade names are the property of their respective owners.