Inventions Geneva 2016 - Time Medical won the Prix de l’Etat de Genève award

Geneva, Switzerland, 15th April 2016 – Time Medical participated in the Inventions Geneva 2016 with the NEONA - World’s First Neonatal MRI System and won the Prix de l’Etat de Genève award which is also the highest award among the medical class on 15th April 2016.

Co-founder sIMON yEUNG, cHIEF OF CLINICAL SERVICE, dR. lIgENG AND INTERNATIONAL SALES DIRECTOR aLEC lEUNG RECEIVED THE PRIZE FROM JUDGE DANIEL LOEFFLER

Co-founder sIMON yEUNG, cHIEF OF CLINICAL SERVICE, dR. lIgENG AND INTERNATIONAL SALES DIRECTOR aLEC lEUNG RECEIVED THE PRIZE FROM JUDGE DANIEL LOEFFLER

0422_1.jpg

Inventions Geneva is the world most important IP convention.  It is organized by Swiss Federal Government, The State of Geneva and the World Intellectual Property Organization (WIPO).  2016 Inventions Geneva has 752 exhibitors from 48 counties with over thousand inventions and products.  The event attracted over 59,000 people and over 650 media reporters.

ACR Accreditation for Pica MRI System

Time Medical Systems was notified today that its first PICA installation in the US has passed ACR Accreditation for MRI.  - This important milestone sets the approval for MRI providers to receive reimbursement from Medicare, and other payors, for their MRI services in US.  

Chairman and CEO of Time Medical Systems, Prof. QY Ma announced the news:  "Achieving this MRI Accreditation by the ACR is an important step in our PICA product development and marketing plan.  it recognizes our engineering qualifications and our ability to deliver products with high quality control, safety policies and image quality.  Also, it testifies that the Low Field Open PICA MRI has a place in the MR Market where changing healthcare market dynamics are encouraging high value.  Starting on Jan 1, 2013, the ACR test is a mandatory requirement for the all MRI products in US."

Prof. QY Ma added that Time Medical, will continue this tradition of high value - high performance products with a future MRI pipeline of new products to be introduced to US and global markets.  These affordable MR systems will address unmet needs to the benefit of the overall healthcare community.  

Time Medical awarded $21 million research grant for breakthrough in MR technology

Jaingsu Province, China has awarded Time Medical the prestigious "2010 Technology Innovation - Best Team Award" in recognition of its breakthrough High Temperature Superconducting (HTS) Technology and innovative MR products.

Along with the award, Time Medical team, led by Prof. Q.Y. Ma, founder and CEO of Time Medical, received a $21 million research and development grant earmarked to further development of key MRI components and commercialization of its patented HTS RF coil products over the next three years.  Time Medical was the only company in the middle/northern Jiangsu region to receive the coveted award.

"This award is China's commitment to continually promote it's hi-tech medical equipment industry, and we are honored to be recognized as the leading-edge team in this field", said Prof. Ma.  "This grant support will undoubtedly help us speed up our development and commercialization of HTS RF coil products and enhanced our capability to achieve greater innovations in order to benefit more patients.  We thank the Jiangsu Government for its great support."

Time Medical received "Frost & Sullivan Asia Pacific Medical Imaging Product Innovation of the Year"

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."

FSA-2.jpg