Two Indiana companies named to Deloitte’s Technology Fast 500
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Two Indiana companies have been named to Deloitte’s 2023 Technology Fast 500 list.
Deloitte uses the annual honors to recognize the fastest-growing North American companies in the tech, media, telecommunications, life sciences, fintech and energy tech sectors.
This year, West Lafayette-based life sciences company Inotiv Inc. and Carmel-based software firm Mesh Systems made the list. Inotiv was named No. 127 on the list while Mesh Systems was No. 385.
Deloitte’s rankings are based on applications and public company database research. The global auditing firm evaluated U.S.-headquartered companies based on their fiscal-year revenue growth percentage over a period of three years between 2019 and 2022. All companies considered had been in business for at least four years.
Additionally, for consideration, companies must own intellectual property or technology that’s sold in products contributing to a majority of the company’s operating revenue with a base-year revenue of at least $50,000 and a current operating revenue of at least $5 million.
Inotiv is a contract research organization specializing in nonclinical and analytical drug discovery. The company grew 1,156% in the time observed by Deloitte — a result company leaders attribute to an aggressive acquisition strategy and growth of services in recent years.
“Recently, we have been focused on adding strategic capacity, completing key integration initiatives, optimizing our infrastructure, and right-sizing our global footprint to achieve the synergies which can now be obtained following our aggressive growth strategy,” Inotiv CEO Robert Leasure said in a news release. “Achieving these synergies will allow us to improve the client experience, increase gross and operating margins, and create the foundation to continue to grow profitably.”
Mesh Systems specializes in internet-of-things hardware design, software development, wireless systems and more. It’s leaders say the company’s 332% is a success shared between Mesh Systems’ employees and customers.
“This honor not only reflects our team’s hard work but also shines a light on the world-class customer base that has been integral to our journey,” Mesh Systems CEO Richard Baxter said. “Their challenges and collaboration inspire our advances and fuel our growth. Together, we’ve created a synergy that propels us forward, and we share this accolade with each member of our team and every customer who has joined us on this exciting journey.”
Click here to see the complete 2023 Technology Fast 500 list.