Vanrx recognized on Deloitte’s Technology Fast 50™ list of fastest growing technology companies
Deloitte, the international financial advisory firm, today presented Vanrx Pharmasystems with the Deloitte Technology Fast 50™ and North American Technology Fast 500™ Awards program awards for its rapid revenue growth, entrepreneurial spirit and bold innovation.
The Technology Fast 50 and Technology Fast 500 lists are entering their 22nd and 25th years, respectively. The programs celebrate the effort and dedication of the fastest growing technology companies in several fields, including biotechnology/pharmaceutical, medical devices, hardware, software, telecommunications and digital media.
Vanrx placed #33 on the Fast 50 and #222 on the Fast 500 list in 2019.
Vanrx placed first on the 2018 Fast 50 with a three-year revenue growth percentage of 19,342%. This is the second time the company has featured on the Fast 50 and its first time on the Fast 500.
In response to the news, Vanrx CEO and co-founder Chris Procyshyn said, “Vanrx would like to thank its employees, customers, investors, suppliers and partner companies for supporting the company’s rapid growth. Our customers are making life-changing therapies for patients and we are proud to play a part in their efforts.”
“In an era of rapid and constant change, Fast 50 companies should be incredibly proud of the impact they are making across all industries, as they foster the economic prosperity and success of our country,” said Erica Pretorius, Partner and National Leader for the Technology Fast 50 program at Deloitte Canada. “Their bold vision, unrivalled growth and true commitment to the innovation allow them not only to improve today’s world, but also shape tomorrow’s, and I can’t wait to see where they take us moving forward.”
Vanrx manufactures machines to fill liquid pharmaceuticals into vials, syringes, and cartridges. Vanrx’s Aseptic Filling Workcells combine robotics, machine vision and gloveless isolator technologies to help pharmaceutical companies manufacture complex therapies at higher levels of flexibility and sterility assurance. Customers can reduce manufacturing costs, and build capacity faster to save time in the patent window.
To qualify for the Deloitte Technology Fast 50, companies must have been in business for at least four years, have revenues of at least $5 million, own proprietary technology, be headquartered and conduct research and development activities in Canada and invest a minimum of five percent of gross revenues in R&D. The North American Fast 500 has similar admission requirements, but is open to both U.S. and Canadian companies.
About the Deloitte Technology Fast 50™
The Deloitte Technology Fast 50 program is Canada’s pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features three distinct categories including the Technology Fast 50 Ranking, Enterprise Fast 15 category (recognizes fastest-growing enterprise-level technology, media, and telecommunications companies by revenue-growth percentage over their last four years of operation), and Companies-to-Watch Awards (early-stage Canadian tech companies with the potential to be a future Deloitte Technology Fast 50 candidate). Program sponsors include Deloitte, Bank of Montreal, CBRE, First West Capital, Miller Thomson, OMERS Ventures, 3C and Lafond. For further information, visit www.fast50.ca.
About Deloitte’s 2019 Technology Fast 500™
Now in its 25th year, Deloitte’s Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, and energy tech companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2015 to 2018.
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 USD 50,000 and current-year operating revenues of at least USD 5 million. Additionally companies must be in business for a minimum of four years and be headquartered within North America.
About Vanrx Pharmasystems
Vanrx makes the most technologically advanced aseptic filling solutions for the pharmaceutical industry. Vanrx fill-finish machines use robotics, machine vision and gloveless isolator technologies to automate the packaging of injectable drugs into vials, syringes, or cartridges. The company was founded by pharmaceutical industry veterans to create the systems needed to make the next generation of innovative therapies.