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, announced today that the company has been named as one of the Deloitte & Touche USA LLP prestigious 2006 Greater Philadelphia Technology Fast 50 Companies, a ranking of the 50 fastest growing technology, media, telecommunications and life sciences companies located in the greater Philadelphia area by revenue growth over five years from 2001-2005.
“Deloitte’s Greater Philadelphia Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today’s very competitive technology environment,” said Michael J. Purcell, Greater Philadelphia Marketplace Technology, Media, and Telecommunications Leader, Deloitte & Touche LLP. “We applaud the successes of Octagon Research Solutions, Inc., and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years.”
“To be named to the Deloitte Technology Fast 50 a second time is not only satisfying, but also extremely motivating since we as a company are still growing exponentially and we have developed sound strategies to take advantage of our current momentum in the marketplace,” stated Jim Walker. “An award like this is certainly not possible without the people here at Octagon, whose expertise, innovation and entrepreneurial spirit are the foundation for our continued success and the reason we are being recognized today.”
Octagon’s increase in revenues of 921 percent from 2001 to 2005 resulted in a number seven ranking in the Technology Fast 50 for Greater Philadelphia. The average increase in revenues among companies who made the Technology Fast 50 for this region was 781 percent.
The Greater Philadelphia Technology Fast 50 program is presented by Deloitte and sponsored by The Judge Group and Geller & Company.
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2001 and $5,000,000 in 2005, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company’s operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies’ technology or intellectual property in a unique way does not qualify.
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.
Named 2006 ‘Most Innovative Company’ by American Business Awards, Octagon Research Solutions, Inc., has the experience of over 180 electronic submissions. With pan-European access to submission strategy, Octagon boasts the largest cross-functional team of submission professionals in the industry, touting the most in-depth knowledge and practical experience with electronic submissions. Octagon’s award winning ViewPoint® solution is currently being used by two of the top ten pharmaceutical companies and has been deployed in the U.S. & Europe.
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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