| INC 500 Ranking
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| Freedom Medical, based in Exton, Pa., has been named one of America’s entrepreneurial growth leaders by Inc magazine, which today released its 2002 Inc 500 ranking of the nation’s fastest-growing private companies. The ranking will appear in the magazine’s special Inc 500 issue, which hits newsstands October 15. |
| Freedom Medical, ranking 36th on the list, achieved some 3,501 percent growth in the past five years, with sales growing from $371,000 in 1997 to $13,358,000 in 2001. The company was founded in response to declining health care reimbursements, to assist medical providers in decreasing the cost of capital medical equipment. Currently, its 15 U.S. branches sell, rent and repair all types of biomedical equipment for hospitals and other health care providers throughout the United States. This equipment includes ventilators, monitors, infant care items, and defibrillators. |
| “We are extremely pleased to be included in Inc’s prestigious ranking,” said Frank Gwynn, co-founder and president. “Freedom Medical’s sales success can be directly attributed to our commitment to respond quickly to individual customer needs and to providing superior customer service.” |
| Started in 1982, the Inc 500 ranks the nation’s leading entrepreneurial firms according to sales growth over the previous five years. Former Inc 500 companies that have gone on to become household names include Microsoft, Timberland, Domino’s Pizza and Patagonia. |
| The 2002 Inc 500 reveals a surprising resiliency within the entrepreneurial sector, where leading companies are continuing to show dramatic rates of growth despite the recession. “This is the first Inc 500 ranking to reflect the full impact of the recession,” said Inc editor John Koten. “Yet these entrepreneurs are managing to confound the naysayers and move ahead despite the obstacles. They’re showing that smart strategies can succeed even in the toughest of times.” |
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