EDEN PRAIRIE, Minn., Oct. 24 /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 410th on the Inc. 500, a list of the nation’s fastest-growing private companies. Inlet also placed 13th on The Minneapolis/St. Paul Business Journal’s Growth 50, a ranking of the 50 fastest-growing private companies in the Twin Cities. Over the three fiscal years ended June 30, 2005, Inlet Medical achieved 148 percent revenue growth. This marks the company’s third consecutive year on The Business Journal’s list.
“To appear on two prestigious lists is a great honor,” said Lee Jones, Inlet Medical president and chief executive officer. “These awards validate the hard work of our talented team. We are influencing how physicians treat patients, positively affecting patients’ lives and have the momentum to sustain growth.”
In early 2005, Inlet Medical launched the Carter-Thomason(R) CloseSure System XL(TM) for laparoscopic port site closure in obese patients. The CloseSure System XL combines an elongated Pilot(R) guide and suture passer to ensure complete wound closure after laparoscopic surgery and prevent port site herniation in these higher-risk patients.
Recently, Frost & Sullivan, an international marketing consulting company, named Inlet Medical “Company of the Year” in the pelvic reconstructive surgery category. Inlet Medical was recognized for the ELEVEST(R) kit for the laparoscopic treatment of uterine prolapse; the AVESTA(R) kit, a minimally invasive technique to restore vaginal vault support; and the METRA PS(R) kit, designed to correct a tipped or retroverted uterus using the UPLIFT (uterine positioning by ligament investment fixation and truncation) procedure. These procedures give women effective and less invasive treatment options, and in some cases, an alternative to a hysterectomy.
To be eligible for this year’s Inc. 500, companies had to be U.S.-based, independent and privately held through their fiscal year 2004, and have had at least $500,000 in net sales in the base year of 2001. In addition, their 2004 sales had to exceed 2003 sales. Companies are ranked on cumulative three-year sales growth from 2001 to 2004.
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 and the Carter-Thomason CloseSure System XL(TM) 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, lee.jones@inletmedical.com , or Nancy A. Johnson,+1-612-455-1745, njohnson@psbpr.com , or Marian Briggs of Padilla SpeerBeardsley Inc., +1-612-455-1742, mbriggs@psbpr.com
