Inlet Medical Ranks 11th On The Business Journal Growth 50
Published: Oct 26, 2004
EDEN PRAIRIE, Minn., Oct. 25 /PRNewswire/ -- Inlet Medical Inc., a privately held medical device company that develops and markets products for laparoscopic wound closure and pelvic reconstructive surgery for women, placed 11th on The Minneapolis/St. Paul Business Journal's Growth 50, a list of the 50 fastest-growing private companies in the Twin Cities. For the three fiscal years ended June 30, 2004, Inlet Medical achieved 158.7 percent revenue growth. This is the company's second consecutive year on the list.
"We are proud to be recognized for our continuing growth record," said Lee Jones, president and chief executive officer, Inlet Medical. "Thanks to the team work of our dedicated employees, we achieved sales of $4.9 million in fiscal 2004 and our first profitable fiscal year. Clearly, our innovative products are meeting unmet needs in the women's health and laparoscopic surgery markets. We are well positioned to continue our revenue growth and profitability."
Inlet Medical currently markets several laparoscopic surgical kits, most for gynecological procedures. The company recently expanded its sales and marketing management team and developed a network of independent sales representatives to reach laparoscopic surgeons nationwide. The company has implemented a successful direct-to-patient marketing program that includes a Web site connecting patients to physicians who perform Inlet Medical procedures. The company's Carter-Thomason CloseSure System XL(TM), a product designed to aid wound closure in bariatric and obese patients, recently received the 2004 Innovative Product of the Year Award from the Society of Laparoendoscopic Surgeons.
The Minneapolis/St. Paul Business Journal annually honors the Twin Cities' fastest-growing private companies as the Growth 50. These companies must be privately held and based in the Twin Cities nine-county metro area. Rankings are based upon their growth rate during the three most recent fiscal years, and winners must have had revenue in the first of the three years of at least $1 million.
About Inlet Medical Inc.
Inlet Medical Inc., based in Eden Prairie, Minn., is a privately held medical device company that specializes in surgical products. Inlet markets the Carter-Thomason CloseSure(R) System used for full-thickness closure of laparoscopic trocar wounds. For the women's health market, the company develops and markets laparoscopic surgical instruments to gynecologists who perform pelvic reconstructive surgery in women. As many as 5 million women in the United States may be able to benefit from the company's unique product offerings. More information about the company can be found at http://www.inletmedical.com/ . Educational information about the procedures is available at http://www.inletmedical.org/ .Inlet Medical Inc.
CONTACT: Lee Jones, President and CEO of Inlet Medical Inc.,+1-952-942-5034, email@example.com ; Nancy A. Johnson,+1-612-455-1745, firstname.lastname@example.org , or Laura Spitzack, +1-612-455-1782,email@example.com , both of Padilla Speer Beardsley Inc.