IRADIMED CORPORATION Named to Fortune’s 100 Fastest Growing Companies List for 2024

By: iRadimed Corporation via GlobeNewswire

November 04, 2024 at 08:30 AM EST

WINTER SPRINGS, Fla., Nov. 04, 2024 (GLOBE NEWSWIRE) -- IRADIMED CORPORATION (the “Company”) (NASDAQ: IRMD) was recently named one of Fortune’s 100 Fastest Growing Companies for 2024. Iradimed is a leader in the development of innovative magnetic resonance imaging (“MRI”) medical devices and the only provider of a non-magnetic intravenous (“IV”) infusion pump system, and non-magnetic patient vital signs monitoring systems that are designed for use during MRI procedures.

“Being recognized by Fortune as one of the 100 Fastest Growing Companies for 2024 is a tremendous honor,” said Roger Susi, President and Chief Executive Officer of the Company. “This achievement underscores our team’s passion and dedication on delivering innovative medical equipment and value-add to our customers to improve the quality of care. As we continue executing our strategic plan, we are excited to build on this momentum and advance our mission to improve patient safety and drive impactful growth for long-term success.”

IRadimed was ranked 61^st on the list, which ranks companies based on growth in revenue, profits, and stock returns. To qualify, a company–domestic or foreign–must be trading on a major U.S. stock exchange; report data in U.S. dollars; file quarterly reports with the SEC; have a minimum market capitalization of $225 million and a stock price of at least $5 on June 28, 2024; and have been trading continuously since June 30, 2021. Companies must have revenue and net income for the four quarters ended on or before April 30, 2024, of at least $50 million and $10 million, respectively, and have posted an annualized growth in revenue and earnings per share of at least 20% annually over the three years ended on or before April 30, 2024. Companies that meet these criteria are ranked by revenue growth rate, EPS growth rate, and three-year annualized total return for the period ending June 28, 2024. The overall rank is based on the sum of the three ranks. Once the 100 companies are identified, they are re-ranked within the 100, using the three equally weighted variables.

To learn more about Fortune’s 2024 100 Fastest-Growing Companies list, visit fortune.com/100-fastest-growing-companies/2024. All registered trademarks are the property of their respective owners.

About IRADIMED CORPORATION

IRADIMED CORPORATION is a leader in developing innovative Magnetic Resonance Imaging (“MRI”) compatible medical devices. We design, manufacture, market, and distribute MRI-compatible medical devices, accessories, disposables, and related services.

We are the only known provider of a non-magnetic intravenous (“IV”) infusion pump system specifically designed to be safe for use during MRI procedures. We were the first to develop an infusion delivery system circumventing the many dangers and hazards during MRI procedures. Standard infusion pumps contain magnetic and electronic components that can create radio frequency interference and are dangerous to locate in the presence of the powerful magnet that drives an MRI system. Our patented MRidium® MRI compatible IV infusion pump system has a non-magnetic ultrasonic motor, uniquely designed non-ferrous parts, and other special features to safely and predictably deliver anesthesia and other IV fluids during various MRI procedures. Our pump solution provides a seamless approach that enables accurate, safe, and dependable fluid delivery before, during, and after an MRI scan, which is essential to critically ill patients who cannot be removed from their vital medications and children and infants who must generally be sedated to remain immobile during an MRI scan.

Our 3880 MRI-compatible patient vital signs monitoring system has been designed with non-magnetic components and other special features to safely and accurately monitor a patient’s vital signs during various MRI procedures. The Iradimed 3880 system operates dependably in magnetic fields up to 30,000 gauss, which means it can operate virtually anywhere in the MRI scanner room. The Iradimed 3880 has a compact, lightweight design, allowing it to travel with the patient from their critical care unit to the MRI and back, resulting in increased patient safety through uninterrupted vital signs monitoring and decreasing the amount of time critically ill patients are away from critical care units. The features of the Iradimed 3880 include wireless ECG with dynamic gradient filtering; wireless SpO2 using Masimo® algorithms; non-magnetic respiratory CO2; invasive and non-invasive blood pressure; patient temperature, and optional advanced multi-gas anesthetic agent unit featuring continuous Minimum Alveolar Concentration measurements. The Iradimed 3880 MRI-compatible patient vital signs monitoring system has an easy-to-use design and effectively communicates patient vital signs information to clinicians.

For more information, please visit www.iradimed.com.

Media Contact:
Jack Glenn
IRADIMED CORPORATION
(407) 677-8022
InvestorRelations@iradimed.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/19884285-baa5-4712-9a17-e684d2a1632f