LAWRENCE, Mass., Nov. 3, 2010 /PRNewswire via COMTEX/ — NxStage® Medical, Inc. (Nasdaq: NXTM), a leading manufacturer of innovative dialysis products, today announced that it ranked number 53 on Technology Fast 500™, Deloitte’s ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the period from 2005-2009. NxStage Medical, Inc. grew 2,380 percent during this period.
NxStage Medical’s President and Chief Executive Officer, Jeffrey H. Burbank, credits the Company’s significant revenue growth over the past five years to its success in pioneering the home hemodialysis market with its System One, the industry’s only portable, easy-to-use home hemodialysis machine, and major growth in its critical care division. He also references the strategic value of the Company’s Medisystems business, acquired by NxStage in 2007.
Burbank said, NxStage Medical is pleased to be named to Deloitte’s prestigious list for the third year in a row. We continue to believe home hemodialysis represents a potential billion dollar market. As the only company with a home hemodialysis indication cleared by the FDA, over 4000 patients, and over 3 million treatments, we believe there are significant growth opportunities ahead.
NxStage Medical and the other 2010 Technology Fast 500™ winners forged ahead in a challenging economic environment to realize exceptional growth, said Phil Asmundson, vice chairman and Deloitte’s U.S. technology, media and telecommunications leader. Deloitte commends NxStage for this impressive accomplishment.
NxStage Medical has proved itself to be one of the fastest growing tech companies in North America, and we are proud to honor them as one of the 2010 Technology Fast 500™, said Mark Jensen, managing partner, venture capital services, Deloitte & Touche LLP.
For additional detail on the Technology Fast 500™ including selection and qualifying criteria, visit www.fast500.com.
About NxStage Medical
NxStage Medical, Inc. (Nasdaq: NXTM) is a medical device company, headquartered in Lawrence, Massachusetts, USA, that develops, manufactures and markets innovative products for the treatment of ESRD and acute kidney failure. For more information on NxStage and its products, please visit the company’s website at http://www.nxstage.com/.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words anticipate, believe, expect, estimate, plan, and similar expressions are generally intended to identify forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including factors that are discussed in NxStage’s filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2010. NxStage is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
As used in this document, Deloitte means Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
Kristen K. Sheppard, Esq.
SOURCE NxStage Medical, Inc.