Press Releases
US LABS in the News
11/9/2004 12:00:00 AM - US LABS Named To Deloitte Fast 500
Commitment to Technology Distinguishes Cancer Reference Laboratory
US LABS today announced that it has ranked 181 on the 2004 Deloitte Technology Fast 500, a ranking of the 500 fastest-growing technology companies in North America. The company also ranked sixth on the Orange County, Calif. Fast 50, one of Deloitte’s 19 regional programs in major technology centers throughout the U.S. The selection of US LABS for the prestigious Deloitte list is significant not only in its recognition of the company’s dramatic growth of 1,213 percent over five years, but also in that it includes the service-based cancer reference laboratory among the leading technology-based companies in the U.S.
In order to qualify for the listing, a company has to own proprietary technology that contributes to a significant portion of the company’s operating revenues and/or devote a significant portion of revenues to the research and development of technology. Unique among cancer reference laboratories, US LABS does both, having forwarded the state-of-the-art with such innovations as Virtual FlowTM, the first online clinical flow cytometry tool that enables pathologists to view comprehensive technical flow cytometry analysis data from their desktop anywhere at anytime. This type of proprietary technology development has contributed to the company’s growth from approximately $4 million in 1999 to more than $75 million today in annualized net revenue.
“Achieving sustained revenue growth such as this over five years is a tremendous accomplishment during a difficult period for the technology sector,” stated Mark A. Evans, national managing partner of Deloitte’s Technology, Media & Telecommunications Group. “US LABS’ phenomenal growth puts it in select company.”
According to Judd Jessup, chief executive officer of US LABS, “We’re honored to be in such distinguished company. Our commitment to research and technology innovations such as our VirtualPath LabTM products clearly makes a difference to the physicians we serve and ultimately to cancer patients across the country.”
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About US LABS
Irvine-based US LABS is a national, anatomic pathology reference laboratory devoted to comprehensive, high-quality, rapid-response cancer testing. The company provides diagnostic, prognostic, and predictive cancer testing services to hospitals, physician offices and surgery centers.
