Foster Recognized as one of Connecticut's Fastest Growing Technology Companies

Putnam, CT (December 2004) - Foster Corporation has been named one of the fastest growing technology companies in Connecticut in 2004. The Putnam, CT provider of biomedical material solutions finished within the top 50 companies in the Connecticut Technology Fast 50 program run by Deloitte and Touch and the Connecticut Technology Council. This marks the 6th time Foster has received this award since the company was founded in 1989.

Companies considered for the Fast 50 had revenues of at least $50,000 in 1999 and at least $1,000,000 in 2003. Candidates were "technology companies" defined as owning proprietary technology that contributed a significant portion of the company's operating revenues; and/or devoted a significant proportion of revenues to research and development of technology. Public and private companies were considered provided they are headquartered in the state of Connecticut.

The average revenue growth for the winners was 861 percent. A reception honoring the recipients was held at Fairfield University's Quick Center for the Arts on October 21. Senator Joseph Lieberman delivered the keynote speech.

Since inception we have focused on helping customers succeed by providing innovative material solutions for medical device and delivery systems. Our success in solving customer problems has resulted in the dynamic growth of our company, said Foster president and founder Larry Acquarulo.

This growth was highlighted by the groundbreaking of our state-of-the-art biomedical polymer compounding facility in Putnam this year. This facility will produce cutting edge biomaterial technologies, including nanocomposites, bioactive compounds and water soluble polymers.

In recent years, Foster has made significant investments in bioactive and nanocomposite technologies. Bioactive compounds include a functional active ingredient that exudes out of the material to achieve reventative or therapeutic results in a living organism.

These materials can be traditional solid polymers, bio-absorbable polymers, or soluble/edible materials that can be absorbed into the body. Foster's Nanomed® nanocomposites are polymers reinforced with nano-particles, or particles that have a thickness less than one nanometer. An interaction at the molecular level creates a unique reinforcement effect while retaining material toughness.

These materials allow for tailoring mechanical properties in advanced medical devices such as catheter delivery systems.Foster is a full-service material solutions company serving medical device, pharmaceutical delivery, and biotechnology companies with extremely precise polymer technologies. Solutions include a comprehensive range of biomedical materials, material development support, and supply chain management.

For more information, please call 860-928-4102.