MediConnect Global's Strong Performance Continues In Q1 2010 With Significant Growth In Revenue, Workforce, Acquisition
- Highlights of Exceptionally Productive Quarter Include Revenue Increases of Approximately 20 Percent over Q1 2009, Major Expansion of Rural Ephraim, Utah Facility
- Acquisition of PassportMD Health Information Portal Positions MediConnect as a Worldwide Leader in the Transformative Personal Health Records (PHR) Movement
MediConnect Global Inc. recently announced that during a strong Q1 2010, the company achieved revenue growth of approximately 20 percent over the same period last year, recently expanded its team by more than 350 employees at two Utah facilities and completed the acquisition of the PassportMD personal health information portal.
"This exceptional quarter reinforced our steep growth trajectory," said Amy Rees Anderson, CEO of MediConnect Global. "Moving forward, digital medical records will play an accelerating role in making healthcare more effective and efficient; MediConnect is on course to become the world's pre-eminent provider of medical record services for both organizations and individuals."
The company's revenue growth extended its continual growth spurt-almost 1,100 percent total growth spanning the past five years. Rapidly increasing world-wide demand for MediConnect's services has created an imperative for the company to ramp up its workforce. A 200-person increase at MediConnect's Ephraim, Utah facility, originally established in 2006, brings quality jobs and benefits to a scenic, rural region that is traditionally underserved in terms of economic opportunity. The company's Ephraim, Utah expansion places the company far ahead of its projected pace of 306 new positions over 10 years. MediConnect also recently added more than 150 new employees to its corporate headquarters in the greater Salt Lake City, Utah area.
With the PassportMD acquisition, MediConnect moved to the forefront in driving the development and adoption of the personal health record (PHR), the future of digitized medical records. PassportMD empowers individuals to take control of their own healthcare by giving them access to their digital health records. The service retrieves patient records, effectively organizes and digitizes the information, and provides it to users in a safe, HIPAA-compliant online environment. PassportMD is one of four PHR services chosen by the U.S. federal government to participate in a current Medicare pilot program.
"We are on the cusp of a time of tremendous growth for digital records, which will play a transformational role in the evolution of better, more affordable healthcare," said Anderson. "With the largest global repository of medical records, MediConnect will be on the leading edge of these developments."
About MediConnect Global
MediConnect Global Inc. is the worldwide leader in
innovative medical record retrieval, digitization and management for
organizations and individuals. Through its patented record retrieval and
delivery processes, MediConnect helps organizations turn inefficient
processes into centralized, Web-based workflows that increase project
transparency and dramatically reduce time and cost. The company is
equally committed to empowering individuals to take control of their own
healthcare, which begins with ownership of the information found on
their medical records. All MediConnect users benefit from the largest
single repository of medical records gathered from throughout the
world-more than 6 million strong. All MediConnect products and services
feature strong HIPAA standards-based security. For more information visit www.MediConnect.net
SOURCE: MediConnect Global