Deloitte Names Zeltiq Aesthetics as Top Medical Device Company on its Fast 500 List

Zeltiq Aesthetics Inc. has placed first in medical devices on Deloitte’s Technology Fast 500 list, a ranking of the 500 fastest-growing technology, media, telecommunications, life-sciences and clean technology companies in North America.

According to Deloitte analysts, Pleasanton, Calif.-based Zeltig grew 6,934 percent during the evaluation period.

Zeltiq’s first commercial product, the CoolSculpting system, is designed to selectively reduce stubborn fat that may not respond to diet or exercise. The CoolSculpting procedure is based on the scientific principle that fat cells are more sensitive to cold than the overlying skin and surrounding tissues. It uses patented technology of precisely controlled cooling to reduce the temperature of fat cells in the treated area, which is intended to cause fat cell elimination through a natural biological process known as apoptosis. Zeltiq developed the CoolSculpting procedure to safely, noticeably, and measurably reduce the fat layer.

In the United States, the CoolSculpting procedure is cleared by the U.S. Food and Drug Administration for non-invasive fat reduction in the abdomen, flank and thigh. In other international markets, it is cleared for general non-invasive fat reduction.

“Our first-place ranking can be directly attributed to the clinical efficacy of our unique CoolSculpting technology in conjunction with our commercialization strategy,” said Mark Foley, president and CEO of Zeltiq, said. “Our focus on outcomes through our industry leading sales force, enhanced training and education, and innovative marketing programs have resulted in our market leading revenue growth.”

Foley said he was “excited” about the “incredible uptake and success of the company’s performance and to have pioneered non-invasive body contouring, the fastest growing segment in aesthetics.”

He said that nearly 1.5 million CoolSculpting treatments have been successfully performed worldwide—with 150,000 patients experiencing the technology in 2014.

“We will continue to invest in the initiatives that contributed to our top ranking and are encouraged by our ability to expand and grow the large, under-penetrated market for noninvasive fat reduction,” Foley said.

“The companies ranked on the 2014 Deloitte Technology Fast 500 continue to set the bar for their industry higher each year,” said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. “There are so many exciting products and smart thought leaders driving this list. We congratulate the Fast 500 companies and look forward to seeing them continue their momentum into 2015.”

“For 20 years, the Deloitte Fast 500 rankings have honored the innovation that is part of these companies’ DNA,” added Jim Atwell, national managing partner of the emerging growth company practice, Deloitte & Touche LLP. “We’re glad to be serving these high-growth companies, and helping the technology sector recognize the great strides and transformation these companies are making in their respective areas.”

Overall, 2014 Technology Fast 500 companies achieved revenue growth ranging from 135 percent to 123,678 percent from 2009 to 2013, with an average growth of 1,640 percent.