Defibtech Ranked First in Medical Equipment Industry Seventh in North America in Deloittes Technology Fast 500 Program

Defibtech Ranked First in Medical Equipment Industry, Seventh in North America in Deloitte's Technology Fast 500 Program

16,286 percent revenue growth earns high industry and national rankings, as well as Number 1 ranking in Connecticut

Guilford, Conn.
October 23, 2007

Defibtech, LLC – a leading designer and manufacturer of automated external defibrillators (AEDs) – has been ranked first in the medical equipment industry and seventh in North America in Deloitte's prestigious Technology Fast 500 Program, a ranking of the 500 fastest-growing technology, media, telecommunications, and life sciences companies by Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations. Defibtech achieved 16,286 percent revenue growth over five years from 2002–2006 to earn the Fast 500 ranking. Last week, Deloitte announced Defibtech’s Number 1 ranking in the Connecticut Technology Fast 50.

Rapid growth highlights success of Defibtech’s mission: to save lives with defibrillators

Defibtech's CEO Dr. Glenn W. Laub said Defibtech's rapid growth shows the success of the company's mission: to save the lives of victims of sudden cardiac arrest with AEDs. "By making affordable and easy-to use defibrillators, we have saved hundreds, if not thousands, of lives around the world. That's what's most satisfying about our growth," Dr. Laub said. Over the past five years, more than 50,000 Defibtech's Lifeline™ and ReviveR™ defibrillators have been deployed in public access areas, workplaces, police and fire vehicles, schools and churches, health clubs, and other locations through distribution partners worldwide.

AEDs revive victims of sudden cardiac arrest caused by ventricular fibrillation. Health experts estimate that sudden cardiac arrest kills more than 400,000 people each year in the United States alone – more deaths than are caused by gun violence, traffic accidents, AIDS, and breast and prostate cancer combined.

Defibtech's privately held corporate structure merges innovation with efficiency

Dr. Laub co-founded Defibtech with a fellow Yale graduate, Defibtech President Gintaras Vaisnys, using seed money from private investors. Defibtech remains a privately held company today, a trend reflected by the overall Fast 500 results. According to Deloitte, eight of the top 10 companies and 15 of the top 20 are privately held, a complete reversal in both the top 10 and top 20 from five years ago.

The company's first offices were above a pizza parlor in Guilford; it has since relocated to greatly expanded corporate headquarters in Guilford. When introduced five years ago, the Defibtech AED revolutionized the AED marketplace. The device had many features better than other AEDs but cost only about half as much. "Defibtech changed the rules of the game," Vaisnys said. "Because we were able to successfully drive down costs, we put a $1,500 AED on the market when other AEDs cost $3,000 to $4,000."

Defibtech's decision to market its product only through distribution partners helped the company to achieve profitability quickly and compete for business around the world. "We don’t compete with our own distributors by selling our product directly to end-users," Vaisnys said. This business model led to major deployments including the 2006 Winter Olympic Games; statewide programs in Arkansas, Florida, Idaho, Louisiana, Maine, New Hampshire, New Jersey, New Mexico; and numerous corporate and public access installations. Today, Defibtech AEDs are deployed throughout the United States, Canada and Europe; in China, India, the Middle East and other parts of Asia; and in Australia, South America and Africa.

AED design recognized with many awards

The Defibtech AED has earned several major awards, including the Best Bang for the Buck Award, from Frost & Sullivan, an AED industry analyst. The AED's outstanding design was recognized by The Museum of Modern Art in New York (MoMA), which selected the Lifeline to be in its "SAFE: Design Takes On Risk" exhibit. The Defibtech AED also received the Medical Design Excellence Award, presented by Medical Device & Diagnostic Industry magazine, and the Industrial Design Excellence Award, presented by the Industrial Designers Society of America and Business Week magazine.

To qualify for the Technology Fast 500, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology.

Companies from the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit