SEATTLE, September 10, 2004 - The Association for Corporate Growth, Seattle Chapter, announced today that it has awarded the ACG Seattle Regional Emerging Growth Award to Quinton Cardiology Systems, Inc. and Sonosite, Inc. The awards were presented at an ACG Seattle event at the Washington Athletic Club on September 8, 2004. Quinton CEO John Hinson and Sonosite CEO Kevin Goodwin spoke at the event, which was taped and televised on TVW - Washington State's Public Affairs Network.
Every year the Association for Corporate Growth (ACG Global) presents the Outstanding Growth Award and the Emerging Company Award to two companies, honoring them for sustained excellence in corporate growth and financial performance. This year, for the very first time, ACG Seattle established a regional award and nominated two firms for the ACG Global Emerging Company Award.
This award recognized companies for superior growth for at least the last three years, and is awarded to qualifying companies with revenues under $500 million in the most recent fiscal year.
Quinton Cardiology Systems is a remarkable success story from Bothell, Washington. In 1953, Quinton (www.quinton.com; Nasdaq: QUIN) began building the first treadmills designed specifically for cardiac testing. In 1998, the company's technology was on the verge of obsolescence, and its market share and revenues were in decline. Over the next few yeas, a new management team led Quinton through a successful turnaround by revitalizing the product portfolio, culminating in a successful IPO in May of 2002 (at a time when very few companies, especially technology companies, were able to accomplish this). Revenues have nearly doubled in the last two years, from $43 million in 2001 to $84 million in 2003. Quinton has been profitable for the last four quarters. The company currently has 365 employees.
Sonosite, the worldwide leader in hand-carried ultrasound, is another remarkable success story from Bothell. A spin-off from ATL Ultrasound in April 1988, this exciting company was built around a vision of bringing high performance ultrasound in a hand-carried system that could be used wherever ultrasound was needed. Sonosite's vision created a market that today is the fastest growing sector of the $3.5 billion worldwide ultrasound market and its laptop sized systems are in use around the world, including by the US military in Iraq and Afghanistan. The small size of Sonosite's systems coupled with their remarkable performance has brought ultrasound into new settings such as the emergency room, surgical suite and intensive care units to expedite delivering better patient care, cost-effectively. Sonosite (www.sonosite.com; Nasdaq: SONO) achieved quarterly profitability in Q4 2002 and in 2004 the company expects to achieve profitability for the full year. Over the last five years, revenues have steadily increased from $10.3 million to $84.8 million. The company currently has approximately 400 employees.
About the Association for Corporate Growth
Founded in 1954, the Association for Corporate Growth (http://www.acg.org) is the premier global association for professionals involved in corporate growth, corporate development, and mergers and acquisitions for mid to large companies. Leaders in corporations, private equity, finance, and professional service firms focused on building value in their organizations belong to ACG. They recognize the multiple benefits of networking within an influential community of executives growing public and private companies worldwide. For 50 years, ACG members have focused on strategic activities that increase revenues, profits and, ultimately, stakeholder value. Today ACG stands at more than 7,000 members representing Fortune 500, Fortune 1000, FTSE 100, and mid-market companies in 42 chapters in North America, Europe and Asia. The ACG Seattle Chapter (http://www.acg.org/seattle) meets on the second Wednesday of each month at the Washington Athletic Club. For information, contact Suzanne Tompkins, (206) 362-6975, or acgseattle@aol.com.
Every year the Association for Corporate Growth (ACG Global) presents the Outstanding Growth Award and the Emerging Company Award to two companies, honoring them for sustained excellence in corporate growth and financial performance. This year, for the very first time, ACG Seattle established a regional award and nominated two firms for the ACG Global Emerging Company Award.
This award recognized companies for superior growth for at least the last three years, and is awarded to qualifying companies with revenues under $500 million in the most recent fiscal year.
Quinton Cardiology Systems is a remarkable success story from Bothell, Washington. In 1953, Quinton (www.quinton.com; Nasdaq: QUIN) began building the first treadmills designed specifically for cardiac testing. In 1998, the company's technology was on the verge of obsolescence, and its market share and revenues were in decline. Over the next few yeas, a new management team led Quinton through a successful turnaround by revitalizing the product portfolio, culminating in a successful IPO in May of 2002 (at a time when very few companies, especially technology companies, were able to accomplish this). Revenues have nearly doubled in the last two years, from $43 million in 2001 to $84 million in 2003. Quinton has been profitable for the last four quarters. The company currently has 365 employees.
Sonosite, the worldwide leader in hand-carried ultrasound, is another remarkable success story from Bothell. A spin-off from ATL Ultrasound in April 1988, this exciting company was built around a vision of bringing high performance ultrasound in a hand-carried system that could be used wherever ultrasound was needed. Sonosite's vision created a market that today is the fastest growing sector of the $3.5 billion worldwide ultrasound market and its laptop sized systems are in use around the world, including by the US military in Iraq and Afghanistan. The small size of Sonosite's systems coupled with their remarkable performance has brought ultrasound into new settings such as the emergency room, surgical suite and intensive care units to expedite delivering better patient care, cost-effectively. Sonosite (www.sonosite.com; Nasdaq: SONO) achieved quarterly profitability in Q4 2002 and in 2004 the company expects to achieve profitability for the full year. Over the last five years, revenues have steadily increased from $10.3 million to $84.8 million. The company currently has approximately 400 employees.
About the Association for Corporate Growth
Founded in 1954, the Association for Corporate Growth (http://www.acg.org) is the premier global association for professionals involved in corporate growth, corporate development, and mergers and acquisitions for mid to large companies. Leaders in corporations, private equity, finance, and professional service firms focused on building value in their organizations belong to ACG. They recognize the multiple benefits of networking within an influential community of executives growing public and private companies worldwide. For 50 years, ACG members have focused on strategic activities that increase revenues, profits and, ultimately, stakeholder value. Today ACG stands at more than 7,000 members representing Fortune 500, Fortune 1000, FTSE 100, and mid-market companies in 42 chapters in North America, Europe and Asia. The ACG Seattle Chapter (http://www.acg.org/seattle) meets on the second Wednesday of each month at the Washington Athletic Club. For information, contact Suzanne Tompkins, (206) 362-6975, or acgseattle@aol.com.
About Sonosite
Sonosite, Inc. (www.sonosite.com) is the innovator and world leader in hand-carried ultrasound, with an installed base of more than 20,000 systems. The Company, headquartered near Seattle, Washington is represented by eight subsidiaries and a global distribution netwok in over 75 countries. Sonosite's small, lightweight systems are expanding the use of ultrasound across the clinical spectrum by cost-effectively bringing high performance ultrasound to the point of patient care. The Company employs approximately 450 people worldwide.