SINGAPORE, JULY 8, 2010 – Frost & Sullivan, a leading global consulting and market research firm, has awarded Time Medical Systems its coveted "2010 Asia Pacific Medical Imaging Product Innovation of the year" award for successfully commercializing its breakthrough HTS technology and innovative MR systems.
The award is presented annually to a company that has demonstrated excellence in the development of new products and technologies within its industry. To receive it, recipients must show innovation by launching a broad line of emerging products and technologies.
"I'm honored to accept the Frost and Sullivan 2010 award for innovation in medical imaging," said Professor Q.Y. Ma, founder and CEO. "This prestigious award represents an important milestone in the history and development of Time Medical and validates our leadership role in MRI technological innovation."
Each year, a professional analyst team tracks product innovation through ongoing market research, market interviews, and extensive secondary research to determine a deserving winner of the Frost & Sullivan award. Time Medical, a relatively new player in the medical device industry, bested several large and established global medical device companies to win the 2010 award. Its innovative HTS technology garnered widespread applause as paradigm shifting while enhancing MR systems that are comparatively inexpensive, resulting in higher performance and setting new standards for industry players.
"Our High Temperature Superconducting (HTS) coil technology has progressed tremendously in the last year," Professor Ma said. "We successfully commercialized an HTS RF coil that could achieve 200% to 500% improvement in imaging quality, setting new standards within the MRI marketplace. At the same time, our disruptive technology produces superior image quality while significantly reducing healthcare costs, making medical diagnosis more affordable to the underserved mass populations of developing countries—particularly Asia."
According to Professor Ma, recent reports indicate that in China, 80% of healthcare costs are incurred during the final month of treatment. In the U.S., the number is closer to 55%. Not surprising, the global healthcare trend today is shifting from a focus on treatment to one of prevention, with early diagnosis using effective and affordable medical devices considered the best solution to mitigating illness and reducing healthcare costs.
"This award further encourages us to develop more high-performance and low-cost MR systems to meet growing need,? Professor Ma said." We already have two such MR systems on the market: the whole-body 0.35T PICA and our 0.2T MONA dedicated orthopedic system. Additionally, we are developing dedicated neonatal and breast MRI systems. All of these will be equipped with HTS technology in order to provide superb image quality that enables doctors to visualize disease better."
He added, "Our systems also increase patient throughput, helping hospitals to improve their bottom line without having to increase the cost to patients. We invite everyone to celebrate this breakthrough technology with Time Medical, a company that provides innovative products with "vision beyond imagination."