PUTNAM, CT, USA – (November 15, 2013) – Foster Corporation today announced it ranked in Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Foster Corporation grew 145% percent from 2008 to 2012.
Foster Corporation’s chief executive officer, Larry Acquarulo credits a growing worldwide demand for, “…high purity, highly engineered biomedical polymers for life saving medical devices and advanced drug delivery” with the company’s revenue growth.
“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 US 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.”
About Foster Corporation: For nearly 20 years, Foster Corporation has been at the forefront of medical and materials solutions based on extremely precise polymer technology. Foster Corporation is a leading supplier of custom biomedical polymers for the medical device industry, including custom compounds for minimally invasive devices, polymers blends for implants, and drug/polymer blends for combination products.
About Deloitte’s 2013 Technology Fast 500: 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.