Guru Profile RxElite Holdings (SOUT) Named to Entrepreneur Magazine’s Hot 500 List of Fastest Growing Businesses
RxElite Holdings, Inc. (OTCBB: SOUT)
MERIDIAN, Idaho,PRNewswire-FirstCall/ — RxElite Holdings, Inc., a wholly owned operating subsidiary of Southridge Technology Group, Inc. (OTC Bulletin Board: SOUT – News) and a developer, manufacturer, and marketer of specialty generic prescription drug products, announced that they have been chosen by Entrepreneur Magazine as one of the 500 fastest growing businesses in America for 2007.
According to Entrepreneur, only 0.5 percent of the 19 million businesses currently operating in the U.S. met the required thresholds of revenue and job growth. RxElite landed a spot in the top 500 out of the 95,000 businesses that met the thresholds.
“The same entrepreneurial spirit that was the foundation of RxElite in 2000 is still driving our business today,” said Daniel Chen, the CEO of RxElite. “We’re proud to be recognized by Entrepreneur for our growth; and we know it is because of our ability to consistently offer a competitive value while continuing to delight our customers with unparallel service.”
Entrepreneur compiled its “Hot 500″ list with the help of Corporate Research Board (CRB), from a database of 19 million U.S. businesses, of which only 0.5 percent met the following criteria:
– Must have been founded no earlier than 1998 and no later than 2002
– Company sales in 2002 must be $100,000 or greater; 2006 sales must not
exceed $1 billion
– Must have positive job growth between 2002 and 2006
– Must have a minimum level of sales growth or a sales growth quantifier
of 1 or higher between 2002 and 2006; the growth quantifier is a
measurement that combines percentage and absolute growth.
Of the 95,000 businesses that met the above criteria, Entrepreneur then contacted the businesses with the greatest growth to confirm eligibility. To be eligible, the founder must be actively involved in the company, the company cannot be a spin-off or a division of a larger company, and company sales for 2006 must be at least $1 million. From this refined list, the Hot 500 companies were selected.
About RxElite Holdings, Inc.
RxElite Holdings, Inc. develops, manufactures, and markets generic prescription drug products in specialty generic markets. These markets include products in the areas of anesthesia, sterile liquid dose drugs (including respiratory inhalation drugs, ophthalmics, and injectable drugs), and transdermal patch products.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving known and unknown risks, delays, and uncertainties that may cause the our actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, delays, and uncertainties include, but are not limited to: risks associated with the uncertainty of future financial results, our reliance on our sole supplier, the limited diversification of our product offerings, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
Contact:
Corporate Information
Ph: (208) 288-5550
Toll Free: (800) 414-1901
Fax: (208) 288-1191
Investor Relations
Charlie Forshee, 215-885-4981
investorrelations@rxelite.com
Segue Ventures LLC
Source: RxElite Holdings, Inc.
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http://www.stockguru.com/profiles/sout/news.php
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