Defibtech Ranked Number One in Deloittes Connecticut Technology Fast 50 Program

Defibtech Ranked Number One in Deloitte's Connecticut Technology Fast 50 Program

Outstanding product design, affordability and worldwide distribution drive five-year revenue growth of 16,286 percent

Guilford, Conn.
October 19, 2007

Defibtech, LLC – a leading designer and manufacturer of automated external defibrillators (AEDs) – has been ranked number one in Deloitte's prestigious Connecticut Technology Fast 50 Program, a ranking of the 50 fastest-growing technology, media, telecommunications, and life sciences companies in the area by Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations. Rankings are based on the percentage revenue growth over five years from 2002–2006.

Defibtech's CEO Dr. Glenn W. Laub said outstanding design, affordability and worldwide distribution of the company’s Lifeline™ and ReviveR™ AEDs drove five-year revenue growth of more than 16,000 percent. "Our goal has always been to design and manufacture an AED that is affordable and easy to use," Dr. Laub stated. "By achieving this goal and working with distribution partners worldwide, we have successfully deployed more than 50,000 AEDs in public access areas, workplaces, police and fire vehicles, schools and churches, health clubs, and other locations where they can save lives."

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.

AEDs revolutionized marketplace and are now deployed worldwide

Dr. Laub co-founded Defibtech with a fellow Yale graduate, Defibtech President Gintaras Vaisnys. They recruited key professional colleagues also rooted in Connecticut and started up the company with its first offices above a pizza parlor 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." Today, the company is based out of greatly expanded corporate headquarters in Guilford.

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 50, 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, which ranks North America’s top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte’s Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.