Extend Health, Inc. Debuts at No. 94 on Inc.Magazine's 2010 List of America's Fastest-Growing Private Companies
Extend Health sales grew 2,579% over the past three years, reaching $36.6 million in 2009
BURLINGAME, California — August 24, 2010 — Inc. magazine has ranked Extend Health, Inc. No. 94 on its 29th annual Inc. 500, which was released today. This is the first time the company applied for inclusion on this exclusive list of the nation’s fastest-growing private companies. The ranking is based on a 2,579% increase in sales over the past three years, leading to revenue of $36.6 million in 2009. Based on its 2009 revenue, Extend Health would rank No. 14 among the top 100 companies on the 2010 Inc. 500 list.
Founded in 2004, Extend Health serves Medicare-eligible retirees and their corporate sponsors. The company operates the country’s largest private Medicare exchange and has helped more than 250,000 retirees compare and choose the private Medicare plan that best meets their needs and budgets.
“We are pleased to be honored for our fast growth by Inc. magazine, which we have achieved by solving a real market need — helping America’s most prominent employers continue offering retiree health care coverage at a manageable cost — and we thank our employer clients for their confidence in us,” said Bryce Williams, Extend Health’s CEO. “Of course, none of this would be possible without the incredible professionals at Extend Health. Their hard work and dedication to our mission is why we have achieved these stellar results and recognition from the definitive source of information about successful privately held companies in America.”
Since the ExtendHealth.com private Medicare exchange began operating in 2006, in addition to serving more than 250,000 retirees, the company has achieved the following milestones:
The questions and detailed results from the survey are as follows:
- Fortune 500 firms served: 31
- Number of national and regional carriers on the exchange: 65+
- Number of plans offered on the exchange: 3,500
- Amount employers can save annually compared to legacy group plans: Up to 35%
- Amount the average retiree couple saves annually by purchasing their private Medicare plans on the exchange: $500-600
- Satisfaction rate among retirees who use the Extend Health: 92%
- Amount of money Extend Health has helped save private and public sector employers providing retiree health benefits: More than $1 billion
“Extend Health is successful because our employees take care of the people who matter most — our clients’ retirees,” said Williams. “Our trained benefit advisors show retirees that they have buying power and can get more Medicare coverage for their money by comparing plans side by side in our exchange. We guide them through the process of navigating and gaining control of the complex world of Medicare as they choose private Medicare plans that best fit their needs.”
About Inc. 500
In 1982, Inc. introduced the Inc. 500 list of the fastest-growing privately held companies in the United States. Since then, this prestigious list of the nation’s most successful private companies has become the hallmark of entrepreneurial success and the place where future household names first make their mark. Oracle, Patagonia, E*Trade, American Apparel, Zipcar and numerous other well-known brands have been honored by the Inc. 500|5000. In 2007, the Inc. 500 list expanded to the Inc. 500|5000, giving readers a deeper, richer understanding of the entrepreneurial landscape and capturing a broader spectrum of success.
About Extend Health
Extend Health, Inc. was founded in 2004 to serve Medicare-eligible retirees and their corporate sponsors. The company operates the country’s largest private Medicare exchange and has helped more than 250,000 retirees compare and choose the private Medicare plan that best meets their needs and budgets. With Extend Health employer solutions, Fortune 500 companies, unions, and public sector organizations can save up to 30% on retiree health care compared to legacy employer group plans. For more information, visit Extend Health on the web at www.extendhealth.com.
- Rob Wyse