On August 15, The Columbian newspaper, which serves Clark County, Wash, communities, featured an article by Libby Tucker, staff writer, about local companies—Audigy Group among them—which were listed among the 5,000 fastest-growing private companies in the United States for 2009.
The article notes that the rankings, which were announced recently in Inc magazine, are based on revenue growth over the previous 3 years. Insurance ranked as the top growth industry, with health care reporting the most employees, says the article.
Audigy Group, Vancouver, Wash, ranked highest among Clark County, Wash, companies, at No 223, with 933% revenue growth from 2005 to 2008, says the article. The company, which selects and manages a network of 120 physicians who treat hearing loss, reported $6.1 million in revenue in 2008, up from $595,161 in 2005. The company provides a range of shared services to private practitioners, including marketing, Internet technology, finance, human resources, and professional development.
Tucker quotes Chris Roberts, CFO of Audigy Group, saying that the company has a great business model that aligns with the interest of private audiologists and helps practitioners to grow.
The total revenue from the 5,000 companies on the list was $214 billion, up $29 billion from last year, with a median growth rate of 126%, says the article. These companies have created more than one million jobs since they were founded, according to Inc.
The seven local firms, with a total revenue of $149.4 million and 1,349 employees, are among 107 Washington-based companies on the list.