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August 24, 2010
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Affinergy Named a North Carolina Company to Watch
Winners Post Strong Revenue, Job Growth Despite a Challenging Economy
RESEARCH TRIANGLE PARK, N.C., August 24, 2010 - Affinergy has been named one of 25 North Carolina Companies to Watch by CED, a private, nonprofit organization that promotes entrepreneurial efforts in North Carolina. Affinergy develops medical devices for use in orthopedics, sports medicine, and general surgery.
"Affinergy exemplifies the innovation and entrepreneurial spirit that leads to success in the marketplace and in the future," said CED President Joan Siefert Rose. "CED is proud to recognize the accomplishments of all our 25 winners and their significant contributions to our state's economy. Affinergy is certainly worthy of watching, and we look forward to seeing their continued growth and achievement."
"It is both humbling and gratifying for Affinergy's employees to receive this acknowledgement," said Peyton Anderson, CEO of Affinergy. "Their hard work over a sustained period of time has positioned us for significant growth and commercial success. We expect our employee and revenue base to grow significantly in the next few years."
"Affinergy is grateful for the critical support we have received from Duke, CED, NC Biotechnology Center, and the NIH," said Jonathan Gindes, Affinergy co-founder, CFO, and SVP of Business Development. "We are committed to developing medical devices that improve clinical outcomes while reducing overall healthcare costs as that benefits patients, taxpayers, employees, and our shareholders."
Affinergy and the other honorees represent a powerful economic engine for North Carolina. During 2005-2007, there were more than 47,000 second-stage, or growth-stage companies in the state. Those companies employed more than one million workers, approximately 37.5 percent of the jobs created by companies headquartered in North Carolina. The inaugural class of North Carolina Companies to Watch represent growth-stage entrepreneurial companies that demonstrate high performance in the marketplace, exhibit innovative products or display other unique qualities that make them worth watching.
The North Carolina Companies to Watch were selected from an initial pool of 190 nominees from across North Carolina. They are privately held companies of between 6-99 employees and $1 million to $50 million in annual revenue or funds raised from grants, investors or partnerships. The winners represent the geographic regions of the state as well as different sectors of the economy.
North Carolina Companies to Watch is presented in partnership with the Edward Lowe Foundation and is made possible through the support of title sponsors Cherry Bekaert & Holland and Wyrick Robbins Yates & Ponton. This new program, which will become an annual event, recognizes the impact that growth-stage, or second-stage, entrepreneurial companies make on the marketplace and on the economy. This year's 25 winners will be honored at an awards ceremony on September 23 at the Raleigh Marriott City Center.
About Affinergy, Inc.
Affinergy develops medical devices for use in orthopedics, sports medicine, and general surgery.
Affinergy's technology was licensed from Duke University and was awarded 2005 Innovation of the Year by Frost & Sullivan in the category of Medical Device Coatings. For more information, visit www.affinergy.com.
About CED
CED (formerly The Council for Entrepreneurial Development) is a private, nonprofit organization founded in 1984 to identify, enable and promote high-growth, high-impact companies and accelerate the region's entrepreneurial culture. Headquartered in Research Triangle Park, CED is the oldest and largest entrepreneurial support organization in the nation, with more than 5,500 active members. CED provides know-how, networking, mentoring and capital formation resources to new and existing high-growth entrepreneurs through annual conferences, programs and web-based resources. CED has helped entrepreneurs, investors, service partners, researchers and public policy makers in diverse emerging industries and at all stages of development - from high-tech, production-based organizations to service companies, from one-person start-ups to 1000-person businesses. Visit www.cednc.org for more information.
About the Edward Lowe Foundation
Established in 1985, the Edward Lowe Foundation is a nonprofit organization that supports entrepreneurship through research, recognition and educational programs, which are delivered through entrepreneur support organizations (ESOs). The foundation focuses on second-stage companies - those that have moved beyond the startup phase and seek significant, steady growth. The foundation also encourages economic gardening, an entrepreneur-centered strategy providing balance to the traditional approach of business recruitment. Headquartered in Cassopolis, Michigan, the foundation was established by Edward and Darlene Lowe to "champion the entrepreneurial spirit." Visit www.edwardlowe.org for more information.
About Companies to Watch
Companies to Watch is a unique awards program that recognizes and celebrates the contribution, innovation and energy of diverse second-stage companies in a state or region. These companies work behind-the-scenes generating the bulk of new, sustainable jobs and are a powerful economic force underpinning the high quality of life most Americans enjoy. Created and managed by the Edward Lowe Foundation, Companies to Watch is one of the foundation's initiatives to celebrate the achievements of second-stage companies.
For more information:
Peyton Anderson
Chief Executive Officer
Affinergy, Inc.
919-433-2229
panderson@affinergy.com
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