PORTLAND, August 16, 2004–Qmedtrix placed fifth in The Portland Business Journal’s ranking of “Oregon’s Fastest-Growing Technology Companies.”

Qmedtrix joins the ranks of the most innovative and most profitable technology companies across the state. The companies are ranked by 2001-2003 percentage growth in revenue. Companies included in the ranking were required to have minimum revenues of $1 million.

“Qmedtrix continues to establish itself as one of the most impressive technology growth companies in the region. Attaining 170 percent growth in revenue in two years puts them at No. 5 on our fastest growing technology companies list and they are seemingly well positioned to sustain that momentum,” said Craig Wessel, publisher, The Business Journal.

Topping the list with Qmedtrix are Digimarc Corp., New Edge Networks, Prosight Inc. and Pacific Star Communications, taking first to fourth place, respectively.

According to Wessel, The Business Journal modified its criteria for selecting companies for this year’s ranking. “We’ve limited the term ‘technology companies’ to businesses that generate the majority of their revenue from the sale of hardware or software or those, such as telecommunications providers, which continually install high-tech systems in order to provide their services,” he wrote.

The fastest-growing technology companies were honored at an awards luncheon and featured in a special editorial section, “Leaders & Innovation in Technology,” published by The Business Journal on Aug. 13.

“Our dedicated and capable group of staff members has made our success possible. Their hard work and commitment have enabled Qmedtrix to create and deliver important services for medical bill review. Our proprietary decision software that corrects and validates medical bills is critical for a healthy national health care system,” said Dr. Merrit Quarum, chief executive officer, founder and chairman of the board of directors. “Our clients and partners also share the accolades, for their unwavering support of our vision to reform the industry by creating standards for fair and reasonable reimbursement for medical procedure and costs associated with those procedures.”

About Qmedtrix
Qmedtrix is one of the nation's leading decision software firms specializing in health care cost-containment solutions and services, which review, validate and correct medical bills. Qmedtrix offers a complete spectrum of services to support the efforts of its clients, which include self-insured corporations, health care companies, third-party administrators, state funds and insurance companies. The company's rules engine and proprietary database set the industry standard.

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