Business Eye Deloitte 2014

Double award success for PathXL

PathXL today announced it ranked within the top fifteen fastest growing technology companies in Ireland for the third year in a row, confirming its place among the very best of the Irish indigenous technology sector.

Now in its fifteenth year in Ireland, the Deloitte Fast 50 ranks the fastest growing technology companies in both the Republic of Ireland and Northern Ireland with rankings based on average percentage revenue growth over a five year period. It was at the awards ceremony, which took place in Dublin on 7th November that David Crawford, Partner with Deloitte Belfast, announced PathXL had ranked in fourteenth position. This was a strong validation of the hard work and long hours PathXL dedicates to building a great team, growing its client base and developing its offering – all of which are vital for sustained growth.

Cumulatively, the 2014 Fast 50 winners generated approximately €350 million in total annual revenues in 2013, demonstrating the success of the industry in Ireland. The average growth rate of the companies in the 2014 ranking was 276% with some of the top ranking companies achieving in excess of 1000% growth.

Des Speed, PathXL CEO said

“I am delighted that PathXL has again maintained its position in the Deloitte Fast 50 rankings. Our products, led by TissueMark, are increasingly well received amongst leading research, education and clinical pathology organisations. The team has over-performed again in 2014 and I am very proud of their achievements”.

PathXL was also recently selected as this year’s winner of the prestigious UTV Business Eye award for Research and Development project of the year, an independent award scheme acknowledged both in the UK and Ireland. The award, which was announced on 23rd October 2014 at the Culloden Hotel Belfast, recognises PathXL for its breakthrough automated tumour analysis product TissueMark – following on from the Frost and Sullivan 2014 ‘New Product Innovation’ award for Europe which it was awarded earlier this year.

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TissueMark stems from many years of pioneering research and combines powerful tumour recognition algorithms with an intuitive workflow that automatically detects and marks up tumour boundaries on virtual glass slide images, while calculating the percentage of tumour cells within that area. The product offers clear improvements to existing laboratory processes in terms of seamless interaction between departments, cost savings, tighter quality control and full auditability.

 

About PathXL
PathXL is a global pioneer in the use of web-based solutions for digital pathology, and provides innovative software for use in drug discovery research, clinical sectors, biomarker analysis and education. Their product for the automated identification and annotation of tumour tissue, TissueMark, was awarded Frost and Sullivan 2014 European New Product Innovation Award for Automated Image Analysis for Digital Pathology. PathXL has just launched Xplore – a new application for image and data management, aiming to facilitate studies for Researchers worldwide.

About Deloitte
With nearly 2,000 people in Ireland, Deloitte provides audit, tax, consulting, and corporate finance services to public and private clients spanning multiple industries. Our globally connected network of member firms in more than 150 countries brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has more than 200,000 professionals, all committed to becoming the standard of excellence.

About UTV
Business Eye Business Eye joined forces with UTV for the eighth year in succession to launch the UTV Business Eye awards 2014 in association with Flybe.