PathAI Ranked 420th Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500™
Boston, MA, November 21, 2024 – PathAI today announced it ranked 420 on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 30th year. PathAI grew 260% during this period.
PathAI’s chief executive officer, Andy Beck, M.D., Ph.D., credits his team for their exceptional work to get AI-powered pathology tools into the hands of pathologists, paired with the company’s deep understanding of the clinical trial space to create tools, products and services that meet trial needs and increase the likelihood of trial timeliness and success. He said, “We’ve made major strides in the adoption of AI in pathology this year, and I’m proud of the team for their drive. It’s an exciting time as we work together with our partners to optimize the field of pathology to provide the most thorough insights currently available to inform diagnoses and treatment plans.”
“For 30 years we’ve been celebrating companies that are actively driving innovation. The software industry continues to be a beacon of growth, and the fintech industry made a strong showing on this year’s list, surpassing life sciences for the first time,” said Steve Fineberg, vice chair, U.S. technology sector leader, Deloitte. “Significantly, we also saw a breakthrough in performance of private companies, with the highest number of private companies named to the list in our program’s history. This year’s winners have shown they have the vision and expertise to continue to perform at a high level, and that deserves to be celebrated.”
PathAI’s rise this year can be attributed to strategic growth on both sides of the business – digital diagnostics and biopharma, including several landmark partnerships that mark a significant milestone in the adoption of AI in pathology and underscore the industry's recognition of PathAI's cutting-edge technology.
AISight is a cloud-native intelligent enterprise workflow solution that powers the end-to-end digital pathology workflows and AI applications of leading laboratories and research centers. The solution is a central hub for case management, image management, and best-in-class AI tools to enable multiple histopathology use cases. Utilizing advanced machine learning algorithms and integrated deep learning models trained on extensive datasets, pathologists can analyze tissue samples with precision and identify and classify pathological features that can be challenging to detect with traditional methods, enabling more accurate diagnoses.
The robust digital pathology platform offers a suite of features that deliver rapid and reliable diagnostic results, with shortened turnaround times for pathology reports. The ability to consistently deliver high-quality analyses supports pathologists in managing increasing workloads without compromising diagnostic standards. A number of leading laboratories have adopted AISight this year with more to come.
PathAI also partners with pharma customers to develop and commercialize AI-powered diagnostics, and to distribute them globally in order to democratize access to lifesaving therapies and diagnostics. PathAI’s multifaceted partnership with Quest Diagnostics will accelerate the adoption of digital and AI pathology innovations. As part of the agreement, Quest will deploy PathAI's AISight™ to support Quest’s pathology laboratories across the United States. Quest will also acquire select assets of PathAI’s clinical anatomic pathologist laboratory business, PathAI Diagnostics (formerly Poplar Healthcare).
PathAI is also collaborating with a leading tissue diagnostics company on the development of AI-enabled companion diagnostics that will provide an integrated and streamlined solution for biopharma sponsors looking to develop AI-enabled companion diagnostics.
“Innovation, transformation and disruption of the status quo are at the forefront for this year’s Technology Fast 500 list, and there’s no better way to celebrate 30 years of program history,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s Audit & Assurance practice. “This year’s winning companies have demonstrated a continuous commitment to growth and remarkable consistency in driving forward progress. We extend our congratulations to all of this year’s winners — it’s an incredible time for innovation.”
PathAI previously ranked 259 as a Technology Fast 500 award winner for 2023.
About the 2024 Deloitte Technology Fast 500
Now in its 30th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2020 to 2023.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About PathAI
PathAI is a leading provider of integrated AI and digital pathology solutions dedicated to transforming workflow and operational efficiency in pathology labs worldwide. Through innovative technologies and strategic partnerships, PathAI aims to enhance patient outcomes and drive the future of medical diagnostics. For more information, please visit www.pathai.com.
About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s approximately 460,000 people worldwide connect for impact at www.deloitte.com.
PathAI’s chief executive officer, Andy Beck, M.D., Ph.D., credits his team for their exceptional work to get AI-powered pathology tools into the hands of pathologists, paired with the company’s deep understanding of the clinical trial space to create tools, products and services that meet trial needs and increase the likelihood of trial timeliness and success. He said, “We’ve made major strides in the adoption of AI in pathology this year, and I’m proud of the team for their drive. It’s an exciting time as we work together with our partners to optimize the field of pathology to provide the most thorough insights currently available to inform diagnoses and treatment plans.”
“For 30 years we’ve been celebrating companies that are actively driving innovation. The software industry continues to be a beacon of growth, and the fintech industry made a strong showing on this year’s list, surpassing life sciences for the first time,” said Steve Fineberg, vice chair, U.S. technology sector leader, Deloitte. “Significantly, we also saw a breakthrough in performance of private companies, with the highest number of private companies named to the list in our program’s history. This year’s winners have shown they have the vision and expertise to continue to perform at a high level, and that deserves to be celebrated.”
PathAI’s rise this year can be attributed to strategic growth on both sides of the business – digital diagnostics and biopharma, including several landmark partnerships that mark a significant milestone in the adoption of AI in pathology and underscore the industry's recognition of PathAI's cutting-edge technology.
AISight is a cloud-native intelligent enterprise workflow solution that powers the end-to-end digital pathology workflows and AI applications of leading laboratories and research centers. The solution is a central hub for case management, image management, and best-in-class AI tools to enable multiple histopathology use cases. Utilizing advanced machine learning algorithms and integrated deep learning models trained on extensive datasets, pathologists can analyze tissue samples with precision and identify and classify pathological features that can be challenging to detect with traditional methods, enabling more accurate diagnoses.
The robust digital pathology platform offers a suite of features that deliver rapid and reliable diagnostic results, with shortened turnaround times for pathology reports. The ability to consistently deliver high-quality analyses supports pathologists in managing increasing workloads without compromising diagnostic standards. A number of leading laboratories have adopted AISight this year with more to come.
PathAI also partners with pharma customers to develop and commercialize AI-powered diagnostics, and to distribute them globally in order to democratize access to lifesaving therapies and diagnostics. PathAI’s multifaceted partnership with Quest Diagnostics will accelerate the adoption of digital and AI pathology innovations. As part of the agreement, Quest will deploy PathAI's AISight™ to support Quest’s pathology laboratories across the United States. Quest will also acquire select assets of PathAI’s clinical anatomic pathologist laboratory business, PathAI Diagnostics (formerly Poplar Healthcare).
PathAI is also collaborating with a leading tissue diagnostics company on the development of AI-enabled companion diagnostics that will provide an integrated and streamlined solution for biopharma sponsors looking to develop AI-enabled companion diagnostics.
“Innovation, transformation and disruption of the status quo are at the forefront for this year’s Technology Fast 500 list, and there’s no better way to celebrate 30 years of program history,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s Audit & Assurance practice. “This year’s winning companies have demonstrated a continuous commitment to growth and remarkable consistency in driving forward progress. We extend our congratulations to all of this year’s winners — it’s an incredible time for innovation.”
PathAI previously ranked 259 as a Technology Fast 500 award winner for 2023.
About the 2024 Deloitte Technology Fast 500
Now in its 30th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2020 to 2023.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About PathAI
PathAI is a leading provider of integrated AI and digital pathology solutions dedicated to transforming workflow and operational efficiency in pathology labs worldwide. Through innovative technologies and strategic partnerships, PathAI aims to enhance patient outcomes and drive the future of medical diagnostics. For more information, please visit www.pathai.com.
About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s approximately 460,000 people worldwide connect for impact at www.deloitte.com.
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Maggie Naples
SVM Public Relations and Marketing Communications
[email protected]
+1 401-490-9700
