SOURCE: Interbit Data

Interbit Data

January 20, 2010 09:42 ET

Interbit Data Continues Steady Annual Revenue Growth -- Reports Best Year Ever for 2009

Leading Provider of Solutions for Optimizing Healthcare IT Earns Success by Meeting Data Interoperability and Business Continuance Needs of Hospitals and Other Healthcare Organizations

NATICK, MA--(Marketwire - January 20, 2010) - Interbit Data, a leading provider of software and services for improving healthcare efficiency, today announced the company has exceeded its revenue goals for 2009, attaining its best year ever in terms of growth and revenue. The company reports $2.7 million in revenue for 2009, a 50% increase over 2008. Interbit Data has averaged 50% revenue growth year over year since 2006.

"Because healthcare organizations are required to meet data interoperability requirements for economic stimulus funding and comply with governmental regulations such as HIPAA, they must implement technologies that enable fast and secure data exchange and protect patient information during system downtime," said Arthur Young, president of Interbit Data. "Our continuing growth, even during the current economic climate, is due to our ability to respond with solutions that save critical time, ensure patient confidentiality, and create efficiencies that reduce costs yet improve the delivery of patient care."

Interbit Data ended 2009 with the addition of 40 new customer accounts to its base of 600+ customers across the United States, Canada and the United Kingdom. New customers include Mercy Medical Center (OH and IA), Spalding Rehabilitation Hospital (CO) and Southcoast Hospitals Group (MA). The company also experienced a 25% increase in sales of additional products to its existing customer base. Interbit Data primarily sells its solutions to hospitals and other healthcare organizations.

Interbit Data was also named this year to the Inc. Magazine list of the 5,000 fastest growing private companies in the United States. The company ranked No. 2909 as a result of achieving over 96% growth from 2005 to 2008, a growth rate that is 70% more than other companies in the same industry. This was Interbit Data's first year listed on the Inc. 5000.

Interbit Data offers three types of solutions that contribute to increased productivity, reduced costs and, ultimately, better and more consistent patient care:

-- Information distribution - automates the secure transfer of information in multiple formats (print, fax, email or file), easily integrating it into electronic medical records (EMRs) using the industry standard HL7 format.

-- Business continuance - ensures up-to-date patient data is readily available in the event of a network or system outage.

-- Scheduling and workforce optimization - designed to improve the effectiveness of nursing and other clinical staff to better meet patient demand. MAPS Health Suite streamlines the entire process -- from modeling the demand, through to scheduling and payroll.

About Interbit Data

Founded in 1997, Interbit Data helps healthcare organizations deliver better, more consistent patient care with secure, reliable and cost-effective software solutions that improve operational efficiency. The company's information distribution products deliver information securely over the Internet in multiple formats, such as fax, print, email, encrypted file or HL7 message format, and integrate it easily into physicians' practice EMRs. Interbit Data's business continuance products give healthcare providers continuous access to patient data in the event of a network or system outage. Interbit Data products are used by more than 650 MEDITECH® customers worldwide. For more information about Interbit Data and its NetSolutions products, visit the company Website at www.interbitdata.com.

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