Mar 30, 2022 12:26:40 PM | 7 Min Read

With a Two-Year Revenue Growth of 116%, Kermit Ranks No. 84 on Inc. Magazine’s List of the Mid-Atlantic Region’s Fastest-Growing Private Companies

Posted By
Tim Anderson
With a Two-Year Revenue Growth of 116%, Kermit Ranks No. 84 on Inc. Magazine’s List of the Mid-Atlantic Region’s Fastest-Growing Private Companies

Inc. magazine this month revealed that Kermit is No. 84 on its third annual Inc. 5000 Regionals: Mid-Atlantic list, the most prestigious ranking of the fastest-growing private companies based in Washington, D.C., Delaware, Maryland, North Carolina, Virginia, and West Virginia. Born of the annual Inc. 5000 franchise, this regional list represents a unique look at the most successful companies within the Mid-Atlantic region economy’s most dynamic segment– its independent small businesses.  

“It is a great honor to be named to the Inc. 5000 Regionals Mid-Atlantic list,” says Richard Palarea, co-founder and CEO of Kermit. “We are proud to not only call the Mid-Atlantic home but to also serve a number of local hospitals and health systems, helping them to greatly reduce their implant spend and take a step towards making healthcare more affordable for all.” 

In 2021, Kermit was ranked No. 1204 in its first appearance on the nationwide Inc. 5000 list.  

The companies on this list show a remarkable rate of growth across all industries in the Mid-Atlantic region. These 131 private companies added 7,365 jobs and $1.9 billion to the Mid-Atlantic region’s economy in 2020 alone.  

Complete results of the Inc. 5000 Regionals: Mid-Atlantic, including company profiles and an interactive database that can be sorted by industry, metro area, and other criteria, can be found at 

“This year’s Inc. 5000 Regional winners represent one of the most exceptional and exciting lists of America’s off-the-charts growth companies. They’re disrupters and job creators, and all delivered an outsize impact on the economy. Remember their names and follow their lead. These are the companies you’ll be hearing about for years to come,” says Scott Omelianuk, editor-in-chief of Inc. 

Kermit’s inclusion on the Inc. 5000 is only a starting point for the organization which is poised for aggressive growth in the coming years. In 2021, Kermit has already greatly expanded its team, adding nine new staff including a Chief Growth Officer and a national sales team with additional positions actively being recruited. 

“After years of perfecting our offering, managing 40% of the implant spend in the state of Maryland, and saving our Mid-Atlantic hospitals tens of millions in annual spend, we know we have an impactful product to bring to all of our nation’s hospitals,” says Palarea. “The team we have assembled – from our expert strategic advisors to our software developers, support staff, and sales and marketing team – has the unparalleled industry knowledge to guide any hospital toward meaningful savings in implantable medical devices.” 

To learn more about how Kermit can reduce your hospital’s implantable medical device spend by an average of 30%, fill out the form below, or contact us at 

More about Inc. and the Inc. 5000 Regionals 

The 2022 Inc. 5000 Regionals are ranked according to percentage revenue growth when comparing 2018 and 2020. To qualify, companies must have been founded and generating revenue by March 31, 2018. They had to be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2019. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2018 is $100,000; the minimum for 2020 is $1 million. As always, Inc. reserves the right to decline applicants for subjective reasons.  

About Inc. Media  
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers and the credibility that helps them drive sales and recruit talent. 

The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit 


Topics: Kermit News

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