PathXL ranks within the top 15 for the third year in a row in Deloitte's Technology Fast 50

BELFAST, UK, November 12, 2014 /EINPresswire.com/ -- 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.

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.

Press release courtesy of Online PR Media: http://bit.ly/1wTSUOz

Jim Irving, Senior VP, Sales & Marketing
PathXL
+442890731026
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