Attributes 499 Percent Revenue Growth to Increasing Adoption of Technology Platform that Helps Lower Costs and Improve Access to Prescription Medications
NEW YORK, NY, November 9, 2017 —Truveris today announced it ranked 205th on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy-tech companies in North America. Truveris grew 499% percent during this period.
Truveris chief executive officer, Faisal Mushtaq, credits the 499% revenue growth to strong adoption of the company’s portfolio of innovative technology-driven solutions that help lower costs and improve access to prescription medications across the pharmaceutical ecosystem. He said, “The Truveris team is proud to be recognized on the Deloitte Technology Fast 500 list for the second year in a row. We are just as excited about the continuing progress in 2017, as evidenced by our partnerships with 140 new organizations to help them reduce pharmacy costs and improve access to prescription drugs. We expect to carry that momentum into 2018 to further grow the company, and most importantly, drive transparency and affordability across the pharmaceutical ecosystem.”
This win comes on the heels of Truveris’ recent work with the State of New Jersey, where Truveris helped the state renegotiate their PBM contract and save taxpayers $1.6 billion over the course of the three year contract.
The Truveris technology platform aggregates data and insights from across the pharmaceutical ecosystem to deliver disruptive cost savings as well as patient access and affordability solutions for employers, unions, government entities, pharmaceutical manufactures, retail pharmacies and consumers. The company works with more than 400 customers of varying sizes across a range of industry groups.
Overall, 2017 Technology Fast 500™ companies achieved revenue growth ranging from 135 percent to 59,093 percent from 2013 to 2016, with median growth of 380 percent.
About Deloitte’s 2017 Technology Fast 500™
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 2013 to 2016.
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 $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
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Truveris brings transparency to the prescription drug ecosystem through data-driven innovations. Truveris’ platform offers customers – from the individual patient to employers, retailers, pharmacy benefits stakeholders, and manufacturers – the data and insights they need to effectively and efficiently manage rising costs and market access challenges.