The firm ranked No. 2725 with three-year growth of 197%
HOUSTON – Aug. 16, 2023 – Velentium, a professional engineering firm that specializes in the design and manufacturing of therapeutic and diagnostic active medical devices, announced today it was once again recognized as one of the fastest-growing private companies in America. Inc. ranked Velentium No. 2725 on the 2023 Inc. 5000. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment – its independent, entrepreneurial businesses.
Velentium increased its ranking from 2022 and positioned itself No. 263 in Texas and No. 52 both in manufacturing and in the greater Houston area.
“We are thrilled to secure our spot on the Inc. 5000 list of America’s fastest growing private companies for the fourth consecutive year,” said Velentium CEO Dan Purvis. “We lead an intensely culture-forward organization that talented people want to work for and clients want to partner with. We make promises we keep, put client success ahead of our own, protect our people, and keep operations human. When our staff, partners, clients, and executives can be fully human in our work, then loyalty, referrals, and growth follow. Velentium’s success and recognition on this list is a side effect of our passion to change lives for a better world.”
The Inc. 5000 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 2,238%. In all, this year’s Inc. 5000 companies have added 1,186,000 jobs to the economy over the past three years.
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location and other criteria, go to www.inc.com/inc5000. The top 500 companies are featured in the September issues of Inc. magazine, available on newsstands beginning Tuesday, Aug. 23.
“Running a business has only gotten harder since the end of the pandemic,” said Inc. editor-in-chief Scott Omelianuk. “To make the Inc. 5000 – with the fast growth that it requires – is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future.”
Over the 11 years since its launch, Velentium has grown exponentially, showcasing its mission to help change lives for a better world. In late 2021, Velentium announced a growth recapitalization in partnership with Connecticut-based Great Point Partners (GPP), a leading healthcare investment firm. Since then, GPP’s investment has allowed Velentium to scale operations and fuel emerging opportunities as part of its global expansion and mission to help its clients develop and deliver life-changing technologies to the world.
One of Velentium’s primary areas of investment is growing the capabilities and footprint of its onshore medical device manufacturing facility in Katy, Texas. The company has signed a lease on a larger built-to-suit corporate facility, where its manufacturing and R&D teams will be co-located in early 2024. Velentium offers full implantable, lead, and wearable manufacturing available in addition to its industry-leading design and development services.
Striving to educate the next generation of engineers, Velentium also announced the launch of three online cybersecurity courses designed for medical device developers and executives. These trainings address many of the ever-changing elements impacting the medical device industry including new FDA and regulatory guidance, secure product lifecycle management, device security and design, vulnerability assessments, secure development and manufacturing, cybersecurity testing and documentation, and postmarket surveillance. The new courses from Velentium are based on the bestselling engineering textbook Medical Device Cybersecurity for Engineers and Manufacturers and are taught by one of its principal authors, Christopher Gates.
About Velentium
Velentium is a Houston-based professional engineering firm specializing in the end-to-end design, development, manufacturing and post-market support of therapeutic and diagnostic active medical devices. The company's core competencies include active implantable medical devices, systems engineering, firmware & software, cybersecurity, mobile & cloud, electrical & mechanical engineering, human factors & usability, automated test systems, and CGMP manufacturing. With customers all over the world, Velentium has experience working with all sizes of clients, ranging from startups seeking seed funding to established Fortune 500 companies.
More about Inc. and the Inc. 5000
Methodology
Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 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 four decimal places.
About Inc.
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 websites, 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 Conference & Gala is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
For more information on the Inc. 5000 Conference & Gala, slated for Oct. 31 – Mov. 2 in San Antonio, visit http://conference.inc.com.
