Company's ranking in HCI 100 list jumps 10 spots in two years
BUFFALO, N.Y., July 11, 2012 /PRNewswire/ -- CTG, (NASDAQ: CTGX), an information technology (IT) solutions and services company, announced today that it was ranked 59th in the 2012 Healthcare Informatics 100 (HCI 100), the annual ranking of the top 100 healthcare information technology (HIT) vendors based on revenue. The company's continued growth of its healthcare business has moved CTG from its 2010 ranking of 69th and 2011 ranking of 65th to its current position. In addition to other large healthcare IT consulting firms, the list includes the leading hospital information systems companies and other healthcare-related software firms.
"This recognition reflects our success in partnering with clients to effectively address their clinical, business, financial, and operational needs and challenges," said CTG's CEO and Chairman James R. Boldt. "CTG's climb up the HCI 100 rankings over the past three years also demonstrates that healthcare providers and payers recognize the value of our IT and business consulting expertise. In total, our healthcare business now represents about 30% of CTG's revenue and remains the major focus of our growth efforts."
The HCI 100 list is published by Healthcare Informatics, a leading magazine for chief information officers, chief medical information officers, and other C-suite IT leaders who are responsible for the planning, development, and implementation of new technologies at hospitals and other healthcare organizations. Healthcare Informatics compiled the HCI 100 list in collaboration with two market research companies − Evanston, Ill.-based ST Advisors and Atlanta-based Porter Research, which reviewed revenue figures submitted by HIT companies. For companies that did not provide revenue for fiscal year 2011, Porter and ST Advisors developed estimates based on public and private information from financial reports, news releases, and healthcare industry consultants.
"The HCI 100 recognition is the result of our ability to help clients use IT to achieve quantifiable benefits and a tribute to the hard work, dedication, and commitment of CTG's outstanding employees," said Ted Reynolds, vice president of CTG Health Solutions, the healthcare division of CTG. "We are proud to be named among the most successful HIT companies in the U.S. and look forward to continued market growth and performance."
CTG Health Solutions offers technology and business consulting services and tools that enable health providers and insurers to address system implementation and optimization, quality improvement, spiraling costs, regulatory requirements, operational efficiency, effective care delivery, patient satisfaction, and member service.
CTG develops innovative IT solutions to address the business needs and challenges of companies in several higher-growth industries including healthcare, energy, and technology services. As a leading provider of IT and business consulting solutions to the healthcare market, CTG offers hospitals, physician groups, and regional health information exchanges a full range of electronic medical record services. Additionally, CTG has developed for the healthcare provider and payer markets unique, proprietary software solutions that support better and lower cost healthcare. CTG also provides managed services IT staffing for major technology companies and large corporations. Backed by over 45 years' experience, proprietary methodologies, and an ISO 9001-certified management system, CTG has a proven track record of delivering high-value, industry-specific solutions. CTG had 3,700 employees at the end of the 2012 first quarter and operates in North America and Western Europe. CTG posts news and other important information on the Web at www.ctg.com.
Safe Harbor Statement
This document contains certain forward-looking statements concerning the Company's current expectations as to future growth. These statements are based upon a review of industry reports, current business conditions in the areas where the Company does business, the availability of qualified professional staff, the demand for the Company's services, and other factors that involve risk and uncertainty. As such, actual results may differ materially in response to a change in such factors. Such forward-looking statements should be read in conjunction with the Company's disclosures set forth in the Company's 2011 Form 10-K, which is incorporated by reference. The Company assumes no obligation to update the forward-looking information contained in this release.