Attributes its 382.76 Percent Revenue Growth to the Growing Adoption of Digital Radiography (DR) Technology in Healthcare Facilities Worldwide
CALGARY, Nov. 17 /CNW/ - IDC (Imaging Dynamics Company Ltd.) (TSX: IDL), the global leader in the rapidly growing market for digital radiography (DR), today announced it is ranked among the Deloitte's 2008 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on the percentage of fiscal year revenue growth over five years, from 2003 - 2007. IDC grew 382.76 percent during this period.
IDC President and CEO, Tom Boon credits the company's expansion into Asia, Latin America and EMEAI (Europe, The Middle East, Africa and India) with the company's 382.76 % revenue growth over the past five years. He said, "IDC's continued focus on innovation with the launch of the X-Series DR technology in 2007 and growth in these rapidly developing foreign markets has earned IDC this prestigious distinction.
"It's great to see so many of our Canadian Technology Fast 50 winners included in the North American Fast 500," stated John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "While helping fuel the growth of the Canadian technology industry and as an outstanding example of Canadian technology leadership, IDC is more than just a Canadian success story - it is also a North American technology leader."
In addition to ranking on Deloitte's Technology Fast 500, IDC ranked 36 on the Canadian Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in Canada.
Fast 500 Selection and Qualifying Criteria
The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte's regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. Companies are selected based on percentage revenue growth from 2003 to 2007.
Entrants must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues or devote a significant proportion of revenues to research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify. Base-year operating revenues must be at least $50,000 USD or $75,000 CD, and current-year operating revenues must be at least $5 million USD or CD. Companies must be in business a minimum of five years, and they must be headquartered within North America.
About IDC
IDC (Imaging Dynamics Company) is a medical technology company and innovative force in the fast-growing field of digital radiography (DR) technology. IDC's X-Series of direct capture technology replaces conventional film-based X-rays and provides a cost-effective alternative to cassette based film or computed radiography (CR) systems.
Each IDC DR solution provides high resolution radiographic images in the digital format required for today's electronic medical record networks, all without the use of film, environmentally harmful chemicals, cassettes or expensive imaging plates. In addition to its number one ranking for customer service by MD Buyline, IDC is the recipient of the 2007 Frost & Sullivan Technology Innovation Award and PROFIT 100, Canada's largest annual celebration of entrepreneurial achievement. IDC was also recognized by the 2007 Deloitte Technology Fast 500, which ranks the fastest growing technology, media, telecommunications and life sciences companies in North America.
IDC is based in Calgary, Alberta, Canada.
You may also visit the IDC Web site: www.imagingdynamics.com.
About Deloitte
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
Statements in this release which describe IDC's intentions, expectations or predictions, or which relate to matters that are not historical facts are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of IDC to be materially different from any future results, performances or achievements expressed in or implied by such forward-looking statements. IDC may update or revise any forward-looking statements, whether as a result of new information, future events or changing market and business conditions. Known and unknown risks and uncertainties include: IDC's ability to manufacture its products with a sufficient level of quality and in volumes which satisfy market demand; the ability of IDC to establish direct and indirect sales channels; the ability of IDC to establish industry partnerships; IDC's ability to attract and retain key personnel; the strength and breadth of IDC's patents; and other factors relating to general economic conditions, specific industry conditions and IDC's particular situation.