Insulin Management Software Company Recognized as One of Nation’s Fastest-Growing Private Companies
WALTHAM, Mass. (August 24, 2021) – Glytec, the only provider of cloud-based insulin management software across the continuum of care, was recognized by Inc. Magazine on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The Inc. 5000 represents a unique look at the fastest-growing companies within the most dynamic segment of the American economy – independent small businesses. Technology-driven companies such as Intuit, Zappos and Microsoft have been named Inc. 5000 honorees in past years.
The Inc. 5000 recognition comes after a year when health systems significantly expanded the use of Glytec’s eGlycemic Management System® (eGMS) to improve care, cost and patient outcomes through personalized insulin treatment recommendations. Glytec is now partnering with over 300 healthcare facilities across the country, and it increased the number of beds covered nationwide by its eGMS software by 25% in 2020. The company also leveraged its clinical expertise and data from its large install base over the past year to conduct and publish research about the impact of glycemic management on COVID-19 mortality and outcomes. Two of Glytec’s recent studies, published in peer-reviewed journals, contributed to the growing understanding providers have about the importance of glycemic management and the knowledge that is driving demand for its eGMS.
“Our sustained growth over the years is a testament to the real value Glytec delivers. It’s especially significant that we continued this trajectory this year amidst the COVID-19 pandemic, and I believe it speaks to the realization many providers are having around the importance of glycemic management,” said Ed Furlong, President and CEO of Glytec. “I’m proud of our team and the work we are doing to support millions of people across the country in need of insulin treatment during their stay in the hospital, especially following the US Centers for Medicare & Medicaid Services new rules for hospitals to report severe hypoglycemia and severe hyperglycemia rates. I’m confident that our commitment to improving patient safety, empowering clinicians and controlling costs will only accelerate our strong track record of growth moving forward.”
Ranked at No. 3,953 with a three-year revenue of 79%, Glytec’s recognition of being placed on the list of the nation’s fastest-growing private companies comes months after the company raised $21 million in funding to continue rapidly scaling by investing in research and development, additional talent and integrations with other diabetes technology across the continuum of care.
“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” says Scott Omelianuk, editor-in-chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”
Leading hospitals across the United States, at health systems including AdventHealth, Novant Health and Sentara Healthcare, trust Glytec to support inpatient insulin dosing and glycemic management. Centered on the FDA-cleared software, Glucommander, Glytec’s eGMS is proven to reduce severe hypoglycemia by 99.8%, 30-day readmissions by 36-68% and length of stay by up to 3.2 days. The safety and efficacy of Glytec’s eGMS have been validated in hundreds of research studies to date. Glytec’s customer retention rate is over 95% and partners have reported annualized cost savings as high as $20,000 per licensed bed.
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 at www.inc.com/inc5000. To learn more about Glytec and the impact that insulin management software can have on health systems, visit www.glytecsystems.com.
About the Inc. 5000 Methodology
Companies on the 2021 Inc. 5000 are ranked according to percentage revenue growth from 2017 to 2020. To qualify, companies must have been founded and generating revenue by March 31, 2017. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2020. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2017 is $100,000; the minimum for 2020 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to three decimal places. There was one tie on this year’s Inc. 5000. 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 http://www.inc.com/inc5000.
About Inc. Media
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including web sites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Vision Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
Glytec is the insulin management software company for healthcare providers focused on improving the quality and cost of care. Its FDA-cleared titration software and proprietary algorithms power the only solution capable of delivering personalized diabetes treatment recommendations across the continuum of care, from hospital to home. With ongoing support from its team of doctors, nurses and technologists headquartered outside of Boston, Glytec improves outcomes and controls costs for the large population of patients requiring insulin treatment – including those with and without a diagnosis of diabetes. For more information, follow Glytec on Twitter (@Glytec) or LinkedIn, or visit www.GlytecSystems.com.
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