MONTGOMERYVILLE, Pa., Oct. 26 /PRNewswire-FirstCall/ -- PhotoMedex was named among the 50 fastest growing Life Sciences/Technology companies in Greater Philadelphia by Deloitte & Touche LLP, one of the nation’s leading professional services firms. Rankings are based on the percentage of growth in fiscal year revenues over five years, from 2001 -- 2005. PhotoMedex’s significant increase in revenues from 2001 to 2005 and 500 percent growth rate during that period resulted in a ranking of 10 on Deloitte’s 2006 Technology Fast 50 for Greater Philadelphia. PhotoMedex was also recently ranked 290th on Deloitte’s 2006 Technology Fast 500 for North America.
PhotoMedex President and CEO Jeff O’Donnell said that the Company’s entire organization deserves credit for the growth and success of PhotoMedex. “Everyone on the PhotoMedex team has worked hard to make the Company a success,” O’Donnell said. “Being ranked by Deloitte 10th among the 50 fastest growing companies in Greater Philadelphia and 290th among the 500 fastest growing companies in North America are accomplishments for which every employee at PhotoMedex can be proud. Looking forward, our Board of Directors, senior management and entire organization are dedicated to continuing to successfully grow the Company and increase its value to all of our stakeholders.”
“To be successful in today’s increasingly competitive landscape, companies have to be better, smarter, and more innovative than in the past, and the Technology Fast 50 and Fast 500 companies are doing exactly that,” said Tony Kern, deputy managing principal of Deloitte’s Technology, Media & Telecommunications industry practice. “We applaud PhotoMedex for being among the fastest growing companies in North America.”
Winners of the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology companies. For more information on the Fast 50 or Fast 500 programs, visit www.fast500.com.
About Deloitte:
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of 120,000 people worldwide, Deloitte delivers services in four professional areas -- audit, tax, consulting, and financial advisory services -- and serves more than one-half of the world’s largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global growth companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.
As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte,” “Deloitte & Touche,” “Deloitte Touche Tohmatsu,” or other related names.
In the U.S., Deloitte & Touche USA LLP is the member firm of Deloitte Touche Tohmatsu, and services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Tax LLP, and their subsidiaries) and not by Deloitte & Touche USA LLP. The subsidiaries of the U.S. member firm are among the nation’s leading professional services firms, providing audit, tax, consulting, and financial advisory services through nearly 30,000 people in more than 80 cities. Known as employers of choice for innovative human resources programs, they are dedicated to helping their clients and their people excel. For more information, please visit the U.S. member firm’s website at www.deloitte.com/us.
About PhotoMedex
PhotoMedex is engaged in the development of proprietary excimer laser and fiber optic systems and techniques directed toward dermatological applications, with FDA approval to market the XTRAC(R) laser system for the treatment of psoriasis, vitiligo, atopic dermatitis and leukoderma. In addition, the Company provides contract medical procedures to hospitals, surgi-centers and doctors’ offices, offering a wide range of products and services across multiple specialty areas, including dermatology, urology, gynecology, orthopedics, and other surgical specialties. The Company is a leader in the development, manufacturing and marketing of medical laser products and services. In addition, as a result of the merger with ProCyte, PhotoMedex now develops and markets products based on its patented, clinically proven Copper Peptide technology for skin health, hair care and wound care. PhotoMedex sells directly to dermatologists, plastic and cosmetic surgeons, spas and salons and through licenses with strategic partners into the consumer market, including a long-term worldwide license agreement with Neutrogena(R), a Johnson & Johnson company. ProCyte brands include Neova(R), Ti-Silc(R), VitalCopper(R), Simple Solutions(R) and AquaSante(R).
Safe Harbor Statement
Some paragraphs of this press release, particularly those describing PhotoMedex’ strategies, contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1993, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While PhotoMedex is working to achieve those goals and strategies, actual results could differ materially from those projected in the forward-looking statements as a result of a number of factors, including difficulties in marketing its products and services, need for capital, competition from other companies and other factors, any of which could have an adverse effect on the business plans of PhotoMedex, its reputation in the industry or its expected financial return from operations. Factors such as these could have an adverse effect on PhotoMedex’ results of operations. In light of significant uncertainties inherent in forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by PhotoMedex and its subsidiaries that they will achieve such forward-looking statements.
Contacts: Allen & Caron PhotoMedex, Inc. Matt Clawson (investors) Dennis McGrath, CFO 949-474-4300 215-619-3287 matt@allencaron.cominfo@photomedex.com
PhotoMedex
CONTACT: Investors, Matt Clawson of Allen & Caron, +1-949-474-4300,matt@allencaron.com, for PhotoMedex; or Dennis McGrath, CFO of PhotoMedex,Inc., +1-215-619-3287, info@photomedex.com
