EXTENSION, INC. Reports Strong Sales and Earnings
Third quarter results in largest sales and earnings increase in company's history
FORT WAYNE, Ind.--(BUSINESS WIRE)-- EXTENSION, INC., a privately-owned healthcare software development company, today announced that it far exceeded its targets and experienced record-breaking growth in the third quarter of 2012. EXTENSION sold its contextual critical alerting and HIPAA-compliant texting solutions to 22 net new customers including both private health systems and government operated VA medical facilities. EXTENSION's sales in the third quarter increased by 225 percent compared to the figure for the prior-year quarter and by mid-quarter the company had surpassed its overall 2011 sales. For further evaluation of the company's long-standing financial success, EXTENSION's 2011 sales exceeded its 2010 sales by 250 percent.
EXTENSION is seeing its highest average selling price in the company's history, far above the 2011 average. EXTENSION's Chief Executive Officer, Todd Plesko, attributes the higher average selling price to the market's realization that EXTENSION is a true enterprise alerting and secure messaging solution and not just a single piece of the puzzle. Mr. Plesko commented, "The ability to send an alert with context to any device and then allow a clinician to interact and respond to that data with secure messaging, both inside and outside the hospital's four walls, all while facilitating a BYOD model, is beginning to resonate strongly with the market. I believe the market views EXTENSION as a holistic solution whereas other boutique solutions only fulfill one aspect like text messaging, for instance."
A primary difference between EXTENSION and alternative solutions is that EXTENSION is a both an alerting and notification engine which integrates to clinical systems such as the EHR, HIS, and nurse call systems. EXTENSION's philosophy is to provide a complete, enterprise solution for alerting and interacting with alerts, both human-generated such as a text message, and machine-generated such as a laboratory result. Plesko continued, "Our clients are telling us that they desire a complete solution by one trusted solution partner and not a piecemeal solution of several different vendors. I believe this is the model that has made Epic such an incredible company - clients respond well to this type of model and we are proud to employ such a successful approach."
EXTENSION has achieved 6 consecutive quarters of record growth in bookings and revenue with an ever-increasing portion of revenue contributed by EXTENSION's highly skilled professional services team. According to Josh Mahler, EXTENSION's Chief Operating Officer, "Despite our rapid growth, we are maintaining a manageable deployment backlog. As always, we continue to focus on enabling our certified partners to successfully implement our solutions and we continue to hire the most experienced support personnel in the industry so that we can do our part to add to the bottom line."
EXTENSION, which reported an employee count of 54 at the end of the second quarter, now employs 63 industry veterans including a growing number of support and quality assurance specialist, clinicians, and others.
About EXTENSION, INC.
EXTENSION® offers award-winning solutions that facilitate instant communication between patients and clinicians. Our solutions enhance common communication devices (wireless phones, smartphones, and communication badges) used as clinical workflow tools by aggregating data from various HIS/IT systems and delivering time-critical alerts to the devices. By establishing repeatable and reliable processes with EXTENSION's workflow software, healthcare systems improve patient safety, patient and staff satisfaction, and efficiency. For more, visit www.OpenTheRedBox.com.
Whitney St. Pierre, 773-368-0911
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