Hardy Diagnostics of Santa Maria again has earned its way onto the Inc. 5000 list. The Inc. 500|5000 recognizes the fastest-growing private companies in the U.S. Hardy Diagnostics’ inclusion on the 2017 list marks the sixth time the medical device manufacturer has been honored by Inc.
Eric Schurenberg, president/editor-in-chief of Inc. Media, said, “This year, the winners have, once again placed the bar very high. Companies that made the list, on average, have grown sixfold since 2013.
“Over a stretch when the economy grew just 6.7 percent, that’s a result most businesses could only dream of,” he said.
Hardy Diagnostics achieved three-year sales growth of 49 percent from 2013-16, according to Hardy Diagnostics’ CFO, Darla Prevish.
Schurenberg said, “Of the tens of thousands of companies that have applied to the Inc. 5000 over the years, only a fraction have made the list more than once. A mere four percent have made the list six times,” as Hardy Diagnostics did this year.
Much of Hardy’s growth is due to the company’s expansion into the food and pharmaceutical markets.
Asked to what he attributes the impressive, sustained growth of Hardy Diagnostics, Jay Hardy, company president said, “Our Employee Stock Ownership Plan (ESOP) has a lot to do with it.
“Instead of one owner investing blood, sweat and tears into making something great, we have over 300 owners living out the dream of doing wonderful, meaningful work,” he said. “Harnessing that kind of power and creative energy can’t help but achieve impressive outcomes.”
Hardy Diagnostics became 100 percent employee owned in 2015. Through the ESOP, employees are granted stock in their company at no cost.
Hardy Diagnostics is an FDA-licensed and ISO 13485 certified manufacturer of medical devices for microbiological procedures in clinical and industrial laboratories.
Hardy Diagnostics was founded in 1980 in Santa Barbara by Jay Hardy and Robert Shibata after they completed their medical technology training in the laboratory at Santa Barbara Cottage Hospital.
Hardy Diagnostics manufactures more than 2,700 different products for the culture and identification of bacteria and fungi. Among its offerings are products used to culture and detect pathogens such as E. coli, salmonella, listeria, MRSA and influenza.
Some 9,000 laboratories throughout the nation rely on Hardy Diagnostics for supplies. Manufacturing takes place both at its headquarters in Santa Maria, and at a facility in Springboro, Ohio. For more information, visit www.HardyDiagnostics.com.
— Michael Welch for Hardy Diagnostics.