CHARLOTTE, N.C., Aug. 12, 2015 (GLOBE NEWSWIRE) — Carolina’s Home Medical Equipment, Inc. made Inc. magazine’s 2015 List for the Fastest Growing Private Companies in the US for the 4th consecutive year, ranking among the top 15 Healthcare companies in NC. The list represents the most comprehensive look at the most important segment of the economy—America’s independent entrepreneurs. Companies such as Yelp, Pandora, Timberland, Dell, Domino’s Pizza, LinkedIn, Zillow, and many other well-known names gained early exposure as members of the Inc. 5000.
“I am delighted and humbled by the fact that we have hit the Inc. 5000 list four years in a row,” says Carolina’s President and CEO Frank Trammell. “Having experienced a 50% reimbursement cut from most payers over the last 3-4 years, it is clear to me that the relationships we have with our customers and referral sources made this possible. This could not have happened without an extremely proficient staff that is dedicated to the notion of extreme customer service.”
The 2015 Inc. 5000 is the most competitive crop in the list’s history. The average company on the list achieved a mind-boggling three-year growth of 490%. The Inc. 5000’s aggregate revenue is $205 billion, generating 647,000 jobs over the past three years.
“January 1, 2014 we took a 30-50% whack in reimbursement across many of our key product lines. We overhauled our operations offsetting this instantaneous loss in revenue with new operational efficiencies and increased volume,” says Carolina’s Vice-President and CFO Andrew Trammell. “I think what sets us apart is the fact we don’t have the traditional bureaucracies associated with many of the large nationals, allowing us to respond quickly and deliver on our mission to treat every customer as if they were our own parent. We also entered new markets in 2014 providing negative pressure wound therapy devices and breast pumps.”
“The story of this year’s Inc. 5000 is the story of great leadership. In an incredibly competitive business landscape, it takes something extraordinary to take your company to the top,” says Inc. President and Editor-In-Chief Eric Schurenberg. “You have to remember that the average company on the Inc. 5000 grew nearly six-fold since 2012. Business owners don’t achieve that kind of success by accident.”
The annual Inc. 5000 event honoring all the companies on the list will be held from October 21 through 23, 2015 in Orlando. Speakers include some of the greatest entrepreneurs of this and past generations, such as Marcus Lemonis, host of the CNBC show “The Profit,” Robert Herjavec, one of the main “sharks” on ABC-TV’s “Shark Tank,” KIND Founder and CEO Daniel Lubetzky, and Co-Founder of Goodshop.com JJ Ramberg.
About Carolina’s Home Medical Equipment, Inc.
Founded in 2003, Carolina’s Home Medical Equipment, Inc. is a private, for-profit North Carolina corporation serving the greater Charlotte, NC area. Carolina’s HME specializes in respiratory and mobility equipment including power wheelchairs, CPAP and Oxygen therapy. Carolina’s HME improves the health of its patients in a manner that distinguishes them in the durable medical equipment industry. In summary, they treat every customer as if they were family.
Carolina’s HME – Times Square 2015
Carolina’s Home Medical Equipment ranked number 349 overall in Health by Inc. Magazine in 2014, number 299 in 2013, and number 231 in 2012.
More about Inc. and the Inc. 500|5000
Methodology
The 2015 Inc. 5000 is ranked according to percentage revenue growth when comparing 2011 to 2014. To qualify, companies must have been founded and generating revenue by March 31, 2011. They had to be U.S.-based, privately held, for profit, and independent–not subsidiaries or divisions of other companies–as of December 31, 2014. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2011 is $100,000; the minimum for 2014 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at https://www.inc.com/5000.
About Inc. and the Inc. 5000
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today.
The Inc. 500|5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list of the nation’s most successful private companies has become the hallmark of entrepreneurial success. The Inc. 5000 Conference & Awards Ceremony is an annual event that celebrates their remarkable achievements. The event also offers informative workshops, celebrated keynote speakers, and evening functions.