PhotoMedex Ranked Number 143 Fastest Growing Company in North America on Deloitte’s 2013 Technology Fast 500(TM)
Attributes 925 Percent Revenue Growth to Expansion of Consumer and Professional Businesses
MONTGOMERYVILLE, Pa., Nov. 13, 2013 /PRNewswire/ — PhotoMedex (NasdaqGS and TASE: PHMD), today announced it ranked No. 143 on Deloitte’s Technology Fast 500(TM), a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. PhotoMedex grew 925 percent during this period.
Dr. Dolev Rafaeli, PhotoMedex Chief Executive Officer, credits the strong success of the company’s XTRAC excimer laser for psoriasis and vitiligo and no!no! brand hair removal device with the company’s 925 percent revenue growth. He said, “Our XTRAC business has nearly doubled in the past year, with more than 500 practices in the U.S. offering XTRAC therapy. We’ve also seen significant increases with the launch of the no!no! Hair PRO in the U.S. and through sales of no!no! products worldwide.”
“The 2013 Deloitte Technology Fast 500 companies are exemplary cases of those spurring growth in a tough market through innovation,” said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. “This year’s list is a who’s who of companies behind the most exciting and innovative products and services in the technology space. We congratulate the Fast 500 companies and look forward to what they do next.”
“The fastest growing companies in the U.S. are drivers of constant innovation and operate with the agility to stay ahead of a quickly evolving marketplace, and software, biotech/pharma and internet companies continue to be at the forefront,” added James Atwell, national managing partner of the Emerging Growth Company practice, Deloitte Services LP. “The companies excelling in these sectors have a startup mentality that allows them to be nimble and adapt quickly, which is why they consistently lead the list of fast-growing companies each year.”
XTRAC® is the only FDA-cleared, clinically proven excimer laser used in multi-center clinical studies for safe and effective treatment of psoriasis and vitiligo. The XTRAC® excimer laser delivers a highly targeted therapeutic level of UVB light to areas of the skin affected by psoriasis or vitiligo, without harming the surrounding tissue.
no!no! products adapt professional technology for home use by consumers. The no!no! hair removal system, using revolutionary Thermicon(TM) technology, delivers professional, pain-free hair removal that’s safe for all skin types and hair colors. The no!no! family has grown to include no!no! Skin for acne clearance and no!no! Smooth, a unique skincare line with Capislow(TM) that slows the rate of hair growth.
About Deloitte’s 2013 Technology Fast 500(TM)
Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2008 to 2012.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
PhotoMedex is a global skin health company providing integrated disease management and aesthetic solutions to dermatologists, professional aestheticians and consumers. The company provides proprietary products and services that address skin diseases and conditions including psoriasis, vitiligo, acne, actinic keratosis (a precursor to certain types of skin cancer) and photo damage. Its experience in the physician market provides the platform to expand its skin health solutions to spa markets, as well as traditional retail, online and infomercial outlets for home-use products. As a result of its December 2011 merger with Radiancy Inc., PhotoMedex has added a range of home-use devices under the no!no! brand for various indications including hair removal, acne treatment and skin rejuvenation. The company also offers a professional product line for acne clearance, skin tightening, psoriasis care and hair removal sold to physician clinics and spas.
Investors are cautioned that statements in this press release constitute forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results anticipated in these forward-looking statements. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed in PhotoMedex’s periodic reports, including its Annual Report on Form 10-K for the year ended December 31, 2011, available on the SEC’s web site at www.sec.gov.