News 2009

June 1, 2009 — OTTAWA, CANADA – Panacis, a leading global provider of collaborative product development services, announced today that it has been named as one of Canada’s 100 fastest growing companies by PROFIT Magazine.

Ranking Canada’s fastest-growing companies by five-year revenue growth, the PROFIT 100 profiles the country’s most successful growth companies. Published in the June, 2009 issue of PROFIT Magazine and online at PROFITguide.com, the PROFIT 100 is Canada’s largest annual celebration of entrepreneurial achievement.

“It is gratifying to have built a business than can be counted among Canada’s most successful,” said Steve Carkner, founder and CEO of Panacis, formerly of Research In Motion. “This achievement has been realized thanks to the loyalty of our customers, the support of our shareholders, and the dedication of our staff. I’m excited by the continued prospects for our growth.”

Recruiting and retaining the most talented and motivated employees is seen as a key element of the company’s success. “Panacis is always on the lookout for exceptional staff”, asserts Gregory Bridgett, Vice President of Operations, also formerly of Research In Motion. “Currently, we see the hiring of a Senior Business Development Manager as critical to keeping on top of the tremendous opportunities.”

Formerly known as Panacis Medical, the company is in the process of changing its name to Panacis, reflecting a broadening demand for its services. “We have seen tremendous success in the fast-growing advanced battery market, which has taken us beyond medical device design.” While still providing product development for its medical technology customers, Panacis also lends its expertise in wireless and power systems to the design and manufacture of a wide range of innovative products for consumer and military markets.

About PROFIT Magazine

PROFIT: Your Guide to Business Success, offers news, strategies, tips, interviews and other resources to entrepreneurs leading Canada’s fastest-growing companies. Each year PROFIT—which currently reaches more than 300,000 readers nationally—hosts a number of events that bring together business leaders in the fast-growth segment and champions the interests of those leaders. PROFIT was founded in April, 1982 as Canada’s first national magazine geared to entrepreneurs.
For more information visit: www.PROFITguide.com.

About Panacis

Panacis is a leading global provider of collaborative product development services that enables its customers to conceive and realize their ideas, and accelerate them to market. With comprehensive engineering capabilities that include low power, wireless, advanced battery technologies, and electromechanical design, Panacis is an award-winning designer and manufacturer of innovative technology products. Panacis collaborates with technology companies, entrepreneurs, and researchers to develop products for medical, industrial, consumer, and military markets. A manufacturer of regulated products with an ISO quality management system, its manufacturing facility produces early-stage and low-volume products. Panacis was founded in 2002 and is based in Ottawa. For more information, visit www.panacis.com.

Contact: Greg Bridgett, Panacis, gbridgett@panacis.com