Ergoresearch Ltd

Ergoresearch Ltd

June 27, 2011 07:57 ET

Ergoresearch Recognized as One of Canada's 200 Fastest-Growing Companies Over the Last Five Years

LAVAL, QUEBEC--(Marketwire - June 27, 2011) - For the first time in its history, Ergoresearch (TSX VENTURE:ERG) made the prize-list of Quebec's financial growth leaders, as published by the magazine "L'Actualité". Ergoresearch is a leader in foot and general orthotics manufacturing and at the cutting edge of fine tuning durable medical equipment in the orthopeadic industry. Ergorecherche has developed the largest network of orthotic clinics in Quebec with over 60 corporate and satellite centers under the banner "La Clinique du Pied Équilibre".

Ergoresearch revenues went from $879 324 in 2005 to $6.3 million in 2010 (June 30). This amazing 654 % growth propelled Ergoresearch to the 10th rank of Quebec companies and at the 84th in Canada. The list compares companies from all activities. Ergoresearch scored first in Quebec in the medical field.

Team work

"We are very proud to be recognized as one of the fastest growing companies in Canada, a select group of stellar performers, especially since this ranking recognizes companies that have been successful at building sustained growth over a five-year period. Achieving long-term growth requires both a clear strategy and sharp execution. We are proud of this achievement obtained without further dilution to our shareholders. We were also able to grow our profits each year," stated Sylvain Boucher, President and CEO of Ergoresearch.

Ergoresearch has grown tremendously since the appointment of the current management team. We owe this growth to our people, to their knowledge of orthopaedic, their never ending desire to learn and to their hard work and dedication. We also owe it to our customers and shareholders for the trust they have put in us over our last five years. "

The prize-list of the fastest growing companies published by the magazine "L'Actualité" recognizes the 20 Quebec based companies that recorded the strongest growth in revenues between 2005 and 2010, among those who submitted their candidacy for the contest. The ranking was established in collaboration with PROFIT magazine.

About Ergoresearch

Over the past 5 years, Ergoresearch has built the biggest network of orthotic clinics in Québec with over 60 business centres and associates. With a team of 74 individuals, it conceives and develops software for clinical analysis and manufacturing as well as medical equipment destined for the orthopaedic industry. Today, the evolution of its proprietary clinical and production software and related medical equipment enables Ergoresearch to participate in the consolidation of the orthopaedic market and allows noticeable competitive advantages. Involved in eight research projects with institutions such as "Université Laval" in Québec and the "École de technologie supérieure (ETS)" at the "Université du Québec" in Montreal, Ergoresearch was the first to develop and commercialize its proprietary Expert-Fit clinical and manufacturing software that, paired with a high precision pressure mapping system designed to measure and analyze pressure distribution, provides a unique 3D digital image of the foot. The parent company, Ergoresearch Ltd., is listed on the Toronto Stock Exchange- TSX Venture Exchange under the ticker symbol ERG.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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