Sept. 10 /PRNewswire/ -- Precision Therapeutics Inc. was recognized by Inc. Magazine as the 64th fastest growing privately owned healthcare company in the U.S. with a three year growth rate of 351 percent. This award recognizes the significant accomplishments of the entrepreneurial companies in America, whose unsurpassed innovation, creativity and performance have redefined their industry and established them among the best in more than 20 industries.
"We are very excited and honored to be ranked 64 of 100 in the health category of the Inc. 500I5000," said Sean McDonald, CEO of Precision Therapeutics Inc. "Our success and subsequent ranking on this list reflects the passion of Precision Therapeutics employees and the commitment Pittsburgh has made to supporting local businesses in the region."
Despite the ongoing recession, aggregate revenue among the companies on the list actually increased to $214 billion, up $29 billion from last year, with a median three-year growth rate of 126 percent. Precision Therapeutics and the other Inc. 5000 companies are responsible for creating more than 1 million jobs since their founding; making the list perhaps the best example of the impact private, fast-growing companies can have on the economy. Health is the top industry by both total revenue ($22.7 billion) and total employment (156,223 jobs).
Precision Therapeutics is a diagnostics services company dedicated to providing physicians and patients with actionable clinical information to personalize cancer treatments. Precision's ChemoFx((R)) test measures an individual patient's tumor response to a range of therapeutic alternatives under consideration by a physician. For more information, please visit www.precisiontherapeutics.com.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today's innovative company builders. With a total paid circulation of 712,961, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at Inc.com.
The Inc. 500/5000 is an annual ranking of America's fastest-growing privately held companies. It recognizes the top companies in more than 20 industries, the creme de la creme across the states and major cities.
For more information, please visit www.inc.com/5000