IMG Named to Inner City 100 for a Fourth Time
(INDIANAPOLIS – MAY 6, 2010) – International Medical Group®, Inc. (IMG®), a driving force and leader in the international health insurance market, has been named to the 2010 Inner City 100, a list of the fastest-growing inner city companies in the U.S. as determined by the Initiative for a Competitive Inner City (ICIC) and Bloomberg BusinessWeek. IMG placed 87th on the list. The program recognizes successful inner city companies and their CEO’s as role models for entrepreneurship, innovative business practices and job creation in America’s urban communities. This is the twelfth year the list has been published and a record number of nominations were received. IMG was also named to the list in 2004, 2006 and 2009.
“It’s a real honor to be among the Inner City 100 winners once again, especially given the economic conditions over the past year,” said Joseph Brougher, President of IMG. “Urban areas have suffered greatly in the downturn, and we are proud to be contributing to the development of these communities.”
“We are delighted to celebrate businesses like International Medical Group that are playing a critical role in revitalizing America’s urban communities. Through their achievements, the Inner City 100 winning companies exemplify America’s remarkable potential and the road to future economic recovery,” stated Mary Kay Leonard, ICIC president and CEO.
In the last 12 years, 607 unique companies have earned positions on the Inner City 100, collectively generating more than $27.2 billion in revenues and creating nearly 72,000 new jobs. Winners represent a wide span of geography, operating in 58 cities and 34 states. The 2010 Inner City 100 winners grew at a compound annual growth rate of 37 percent and an average standard growth rate of 340 percent between 2003 and 2008. Collectively, the top 100 inner city businesses employ 10,700 employees and have created more than 6,300 new jobs between 2004 and 2008.
85 percent of companies expect steady growth and 27 percent expect their revenues to grow more than 30 percent. Individually, the median Inner City 100 Company’s revenues were $6.6 million. This year’s winners have a median employee turnover rate of less than 8 percent and 96 percent of them provide health insurance to their workers.