BERKELEY HEIGHTS, NJ (PRWEB) November 21, 2014
Summit Medical Group (SMG) New Jersey’s oldest and largest private multispecialty medical group, was recently honored as one of New Jersey's “50 Fastest Growing Companies.” NJBiz, New Jersey’s leading statewide business newspaper, honored 50 dynamic companies at its November 13, 2014 awards dinner and ceremony at the Palace in Somerset Park, Somerset, N.J.. For eight consecutive years, Summit Medical Group has been recognized for its consistent and progressive contributions to the success of the state's economic growth and stability. Summit Medical Group placed 25th on the list of 2014 honorees and was the only multispecialty healthcare provider selected for this honor.
Eligible companies were to be for-profit entities headquartered in New Jersey. To qualify for an award, companies had to meet selection criteria that included a revenue size of at least $500,000 within the past two out of three years and growth in revenue over a three-year period, The company with the largest dollar growth receives the highest ranking, with the second company receiving the second highest ranking, and the other companies following. Rankings are then assigned for the percentage of growth from year one to year three. The company with the highest percentage growth is assigned the highest ranking. Ranking numbers for dollar and percentage growth are then totaled. The company with the highest combined ranking is ranked number one, with the other companies following in order. If there is a tie, the company with the highest dollar growth received the higher ranking.
This year's list of winners can be found on NJBiz.com and in a special November print supplement.