Inc. Magazine Unveils Exclusive List of America’s Fastest-Growing Private Companies

Nov. 16, 2009 - PRLog -- LAS VEGAS, NV –  Inc. magazine ranked ScripNet 3,953 on its third annual Inc. 5000, an exclusive ranking of the nation’s fastest-growing private companies.  The list represents the most comprehensive look at the most important segment of the economy—America’s independent-minded entrepreneurs.

ScripNet, a Las Vegas based nationwide pharmacy benefit manager (PBM) who contracts with workers’ compensation insurance carriers and pharmacies to make prescription medications available to injured workers, has been ranked on the Inc. 5000 for the last 3 years, consistently since the ranking was established, and between 2002 and 2004 was ranked three times in the Inc. 500, including No. 22 in 2004.  

The 2009 Inc. 5000 serves as a unique report card on the U.S. economy. Despite the ongoing recession, aggregate revenue among the companies on the list actually increased to $214 billion, up $29 billion from last year, with a median three-year growth rate of 126 percent. The Inc. 5000 are responsible for creating more than 1 million jobs since their founding, making the list perhaps the best example of the impact private, fast-growing companies can have on the economy. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on Inc.com.

This year’s list also offers a preview of which industries are poised for growth in coming years. With an average growth rate of 667 percent, Insurance ranked as the top industry overall. Government Services was the top industry gainer with 252 companies on this year’s list, up from 135 last year. Health is the top industry by both total revenue ($22.7 billion) and total employment (156,223 jobs).

“We are very proud of the growth that we have achieved over the last 10 years,” said Dennis Sponer, President and CEO of ScripNet.  “It is attributable to a sound business concept, a strong value proposition and supportive relationship with our customers, the use of information technology to achieve business process efficiencies, and of course the hard work of our employees.”

“The Inc. 5000 is the best place to find out about young companies that are achieving success through a wide variety of unprecedented business models, as well as older private companies that are still expanding at an impressive rate,” said Inc. 5000 project manager Jim Melloan. “That’s why our list is so eagerly anticipated every year.”

ScripNet has also been awarded the 2009 “Best Places to Work in Insurance” award from Business Insurance Magazine and the 2008 ‘Best Places to Work in Small Business’ Award by the Southern Nevada Human Resources Association.  

The Inc. 5000 at a Glance
In total, the companies on the Inc. 5000 have created more than 1 million jobs. Health is the top employer with 156,223 jobs, followed by Business Products & Services (122,911), IT Services (89,632), Food & Beverage (86,572), and Construction (65,494).  IT Services had the most companies on this year’s list with 658, followed by Business Products & Services (502), Advertising & Marketing (398), Construction (354), and Manufacturing (342).  The Inc. 5000 posted an aggregate revenue of $214 billion in 2008, up nearly 16 percent from the previous year. The top five industries by total revenue include Health ($22.7 billion), Business Products & Services ($19.6 billion), Construction ($18.8 billion), Energy ($14.7 billion), and IT Services ($13.2 billion).

Methodology - The Inc. 5000 is ranked according to percentage revenue growth from 2005 through 2008. To qualify, companies must have been founded and generating revenue by the first week of 2005, and therefore able to show four full calendar years of sales. Additionally, they have to be U.S.-based, privately held, for profit, and independent -- not subsidiaries or divisions of other companies -- as of December 31, 2008. Revenue in 2005 must have been at least $200,000, and revenue in 2008 must have been at least $2 million. The top 10 percent of companies on the list comprise the Inc. 500, now in its 28th year.

About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today’s innovative company builders. With a total paid circulation of 712,961, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at Inc.com.

About the Inc. 500|5000 Conference
Each year, Inc. and Inc.com celebrate the remarkable achievements of today’s entrepreneurial superstars—the privately held small businesses that drive our economy. The Inc. 500|5000 Conference & Awards Ceremony brings together members of the Inc. 5000 community, both a new class of Inc. 5000 honorees and the list’s alumni, for three days of powerful networking, inspired learning, and momentous celebration. Please join us September 23–25, 2009, at the Gaylord National Resort and Convention Center in National Harbor, Maryland. For more information about the 2009 Inc. 500|5000 Conference & Awards Ceremony, and to register, visit www.Inc5000event.com. Stay connected with Inc. Events by following @IncEvents on Twitter.

ScripNet Media Contact:  

Mark Rieger
ProAmericas Marketing & Public Relations for ScripNet
markr@proamericas.com
303-520-4524

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About ScripNet
ScripNet is one of the fastest growing pharmacy benefit management (PBM) companies in North America, providing PBM services to over 2,000,000 employees through pharmacies in all 50 states. ScripNet electronically processes prescription drug claims for workers' compensation, which allows insurance carriers, large self-insured companies, municipalities, managed-care organizations, and third-party administrators to participate in better cost control and increased efficiency for pharmacists, and offers more convenience for injured workers. ScripNet offers a drug utilization review program that improves patient care, reduces fraud and abuse, and cuts administrative expense. ScripNet is a three time winner of Inc. Magazine’s annual listing of the 500 fastest growing privately held companies in the nation. More information can be found at www.scripnet.com