Chairman and CEO, Jim Walker of Octagon Research Solutions, Inc., a pioneer and leader in the electronic transformation of clinical R&D in the life sciences industry, today announced that it is ranked 183 on Deloitte’s 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage revenue growth over five years, from 2001–2005. Octagon Research Solutions, Inc. grew 921 percent during this period.
“Sophisticated technology is becoming the norm and is in almost everything in the 21st century,” said Tony Kern, deputy managing principal of Deloitte’s Technology, Media & Telecommunications industry practice. “Octagon Research Solutions, Inc. has developed technology solutions that deliver in today’s highly competitive world, and we applaud their efforts, ingenuity and teamwork in becoming one of the fastest growing technology companies in North America.”
“We are extremely honored to be in such good company on Deloitte’s 2006 Technology Fast 500,” stated Jim Walker, “As this national ranking is based on quantifiable numbers and research, it shows that our rapid growth can be sustainable over a number of years. This is also a reflection of our entire senior management team and our employees who continue to execute our strategic vision on a daily basis.”
Overall, companies that ranked on the 2006 Technology Fast 500 had growth rates ranging from 209 to 48,948 percent over five years, with an average growth rate of 2,145 percent.
The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte’s 16 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 2001 to 2005.
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.
Winners of the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte’s Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology, media, telecommunications and life sciences companies.
About Octagon Research Solutions, Inc.
Octagon is a pioneer and leading process-centric solutions provider that offers a suite of regulatory, clinical, process, and IT solutions to the life sciences industry. Octagon synchronizes processes and increases automation to reduce island-to-island inefficiencies within the clinical research and development process. We leverage the power of electronic submissions through cross-functional electronic submission expertise, a holistic process approach, deep domain knowledge, and integrated solutions. Octagon is headquartered in Wayne, PA, with European headquarters in Amersham, UK.
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