Inc., the leading media brand and playbook for entrepreneurs and business leaders shaping the future, today announced that Penstock ranked No. 353 on the annual Inc. 5000 list—and among the top 50 fastest-growing companies in the healthcare and medical sector.

The Inc. 5000 is the most prestigious ranking of America’s fastest-growing private companies, offering a data-driven snapshot of the most successful independent businesses powering the U.S. economy. Past honorees include Microsoft, Meta, Chobani, Under Armour, Timberland, Oracle, and Patagonia.

This national honor follows Penstock’s earlier recognition as the #1 fastest-growing private company in the Northeast on the 2025 Inc. Regionals list. Together, these rankings highlight Penstock’s exceptional growth and its role as a trusted partner to health plans seeking innovation, accuracy, and hands-on service in payment integrity.

“Placing 353 on the Inc. 5000 list is more than a milestone—it’s a reflection of the trust our health plan partners place in us every day,” says Steve Palma, president and general manager of Penstock. “We’ve grown by staying true to what matters: delivering real results with real partnership. This recognition validates that you don’t have to sacrifice service to scale—and we’re just getting started.”

This year’s Inc. 5000 honorees have demonstrated exceptional growth while navigating economic uncertainty, inflationary pressure, and a fluctuating labor market. Among the top 500 companies on the list, the median three-year revenue growth rate reached 1,507 percent, and those companies have added more than 52,805 jobs to the U.S. economy over the past three years.

For the full list, company profiles, and a searchable database by industry and location, visit: www.inc.com/inc5000.

“Making the Inc. 5000 is always a remarkable achievement, but earning a spot this year speaks volumes about a company’s tenacity and clarity of vision,” says Mike Hofman, editor-in-chief of Inc. “These businesses have thrived amid rising costs, shifting global dynamics, and constant change. They didn’t just weather the storm—they grew through it, and their stories are a powerful reminder that the entrepreneurial spirit is the engine of the U.S. economy.”

Inc. will celebrate the honorees at the 2025 Inc. 5000 Conference & Gala, taking place October 22–24 in Phoenix, and the top 500 will be listed in the Fall issue of Inc. magazine.

Methodology
Companies on the 2025 Inc. 5000 are ranked according to percentage revenue growth from 2021 to 2024. To qualify, companies must have been founded and generating revenue by March 31, 2021. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2024. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2021 is $100,000; the minimum for 2024 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons.

About Inc.
Inc. is the leading media brand and playbook for the entrepreneurs and business leaders shaping our future. Through its journalism, Inc. aims to inform, educate, and elevate the profile of its community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating the future of business. Inc. is published by Mansueto Ventures LLC, along with fellow leading business publication Fast Company. For more information, visit www.inc.com.

About Penstock
Penstock is a high-performance payment integrity company built for health plans that demand more—from their partners and their results. As the #1 fastest-growing private company in the Northeast (Inc. Regionals 2024), Penstock is redefining what audit and recovery should look like: unwavering returns, client-aligned, and relentlessly innovative. Armed with proprietary ClearBridge technology and a team of experts, Penstock consistently identifies savings opportunities—even after multiple vendor reviews. By improving payment accuracy and delivering deeper, more targeted audits, Penstock helps health plans uncover more value and reinvest in what matters most. For more information, visit www.penstockgroup.com

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