|By Business Wire||
|November 14, 2012 11:01 AM EST||
Evolution1™ today announced it ranked #322 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences, and clean technology companies in North America. Evolution1 grew 237 percent since the 2011 ranking.
“We are proud to honor the 2012 Technology Fast 500™ companies, and commend them for their outstanding growth,” said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications (TMT) leader. “These ground-breaking companies have outpaced their competition and are reinventing the way we do business today.”
The industry leader in electronic healthcare solutions, Evolution1 and its 450 Partners serve 60,000 employers and more than eight million consumers. Through its solutions and products, Evolution1 and its Partners have saved employers $43 million in administrative costs to date in 2012, eliminated more than 52 million paper claims, and saved $79 million in automation savings.
“We are thrilled to have been named to the Deloitte Technology Fast 500™ list for the seventh consecutive year,” said Jeff Young, chairman and chief executive officer at Evolution1. “We share this award with our Partners. Together with them, we are dedicated to reducing costs and simplifying the business of healthcare.”
Evolution1 continues to build key relationships, signing multi-year partnerships with a number of large health plans and leading third-party administrators that use Evolution1 as their strategic platform of choice. These partnerships solidify Evolution1’s leadership as the company continues towards record growth.
“The companies on the Fast 500 list are among those that have demonstrated remarkable innovation, creativity and business savvy,” said Bill Ribaudo. partner, Deloitte & Touche LLP and national TMT leader for audit and enterprise risk services (AERS). “As a result, these companies have continued to successfully forge ahead in a challenging economic environment. We applaud the leadership and employees of Evolution1 for this impressive accomplishment.”
About Deloitte’s 2012 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche 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 2007 to 2011.
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.
Evolution1 and our Partners serve more than 8 million consumers, making us the nation’s largest electronic payment, on-premise and cloud computing healthcare solution that administers reimbursement accounts, including HSAs, HRAs, FSAs, VEBAs, PRAs, Wellness and Transit Plans. It is the only solution that offers a single end-to-end user experience, provides innovative auto-substantiation technologies, and automates workflow for Partners, employers, and consumers. It does all this on one technology platform comprised of Lighthouse1™, PayDirect®, the Benny® Benefits Debit Card, Lighthouse1 OneCard™ and integrated web portals. Evolution1 and our Partners are dedicated to delivering value, reducing costs and simplifying the business of healthcare. For more information, visit www.evolution1.com.
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