Cancer Genetics, Inc. Ranked Among Fastest Growing Companies For Third Consecutive Year By Deloitte’s Technology Fast 500™ – Ranks 233 in 2016
Published on: Wednesday, November 16th, 2016 View all Media
Revenue growth driven by increasing marketshare in biopharma clinical trials and comprehensive solutions for genomic profiling of cancers
Rutherford, NJ, Nov 16, 2016 — Cancer Genetics, Inc. (Nasdaq:CGIX), an emerging leader in enabling precision medicine for oncology through the use of molecular markers and information, announced today it ranked 233 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Cancer Genetics grew 319 percent during this period.
Cancer Genetics’ CEO and President, Panna Sharma, credits the increasing marketshare due to providing more value and molecular information for biotech and pharmaceutical trials and growth in providing more clinical centers and hospitals information for enabling precision medicine for patients. Sharma commented, “Our team has been very focused on increasing the impact our innovative tests have on cancer patients, and on accelerating and enabling the approval of breakthrough oncology compounds. Our commitment to the oncology ecosystem, and to patient care has been evident in our continual, high-impact growth. We are encouraged by our position, and also hopeful that future growth will impact more patients and deliver more breakthrough oncology compounds into the market”
“Today, when every organization can be a tech company, the most effective businesses not only foster the courage to explore change, but also encourage creativity in using and applying existing assets in new ways, as resourcefully as possible,” said Sandra Shirai, principal, Deloitte Consulting LLP and U.S. technology, media and telecommunications industry leader. “This ingenious approach to innovation calls for the encouragement of curiosity and collaboration both within and outside the office walls.”
“This year’s Fast 500 winners showcase that when organizations are open to diverse perspectives and insights, they are able to create an environment for their employees and customers to see the possibilities and ingenious solutions that might lie ahead,” added Jim Atwell, national managing partner of the emerging growth company practice, Deloitte & Touche LLP. “Entrepreneurial environments foster change and innovation within businesses, and we look forward to watching these companies continue to drive change across all sectors.”
This is the third consecutive year that Cancer Genetics has ranked as a Technology Fast 500™ company. Cancer Genetics previously ranked 290 as a Technology Fast 500™ award winner for 2015, and 309 in 2014.
About Deloitte’s 2016 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2012 to 2015.
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, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
As used in this document, “Deloitte” means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
ABOUT CANCER GENETICS
Cancer Genetics, Inc. is a leader in enabling precision medicine in oncology from bench to bedside through the use of oncology biomarkers and molecular testing. CGI is developing a global footprint with locations in the US, Australia and China. We have established strong clinical research collaborations with major cancer centers such as Memorial Sloan Kettering, The Cleveland Clinic, Mayo Clinic, Keck School of Medicine at USC and the National Cancer Institute.
The Company offers a comprehensive range of laboratory services that provide critical genomic and biomarker information. Its state-of-the-art reference labs are CLIA-certified and CAP-accredited in the US and have licensure from several states including New York State.