SEATTLE, April 6 /PRNewswire/ -- Spencer Technologies last night was recognized for its achievements in the field of neurodiagnostics during the Frost & Sullivan annual "2004 Global Excellence in Technology of the Year" Award at its annual Global Excellence in Medical Devices Awards Banquet held in San Francisco, Calif. This prestigious award recognizes technical excellence that can significantly contribute to the medical devices industry in terms of adoption, change and competitive posture. This award follows closely on the heels of the company being named to the "Washington Fast 50" by Deloitte & Touche, recognizing Spencer Technologies' rapid revenue growth.
Spencer Technologies has focused its research and commercial product development efforts on capturing new market opportunities for its proprietary Digital Power M-Mode(TM) Transcranial Doppler (PMD) device. The company has leveraged its leadership position in embolism detection and blood flow monitoring to provide an innovative solution to the diagnosis of Patent Foramen Ovale (PFO), a hole in the septum of the heart between the right and left atrium; and with ongoing research into clinically important applications such as clot-busting drug therapy and intra-cranial monitoring. As a result, Spencer's PMD device is becoming the 'gold standard' in PFO diagnosis with potentially many more applications to follow.
Spencer Technologies has partnered with Terumo Cardiovascular Systems Corporation to further commercialize and develop its digital TCD technology for cerebral blood flow monitoring during cardiac surgery. The next- generation device will extend Terumo's existing line of specialized intraoperative monitoring devices. Mark Sutter, President and CEO, for Terumo Cardiovascular Systems states, "Terumo places great value in the ultrasound technologies and unique brain monitoring capabilities being developed by Spencer Technologies. They are on the leading edge for monitoring of the brain, and as a corporate partner, we rely on their PMD blood flow technology as the cornerstone for future surgical applications."
The PMD100 has gained significant popularity in a relatively short time in the United States, Canada, and many international markets, and the agreement with Terumo is expected to continue increasing the rate of adoption. Most experts in the field are already considering, and in many cases strongly recommending, the PMD100 as their system of choice.
This advanced PMD system also offers considerable advantages over older analog TCD technologies in terms of accuracy, ease of use, and effectiveness as a diagnostic and monitoring tool. In sharp contrast with other devices, PMD systems enable new users to learn much more quickly and easily while more seasoned users are able to capture dramatically more comprehensive information in a shorter time.
About Spencer Technologies
Spencer Technologies was co-founded in 1992 by Dr. Merrill Spencer, a recognized pioneer and world leader in the development of diagnostic ultrasound, and Scott Seidel, President and CEO. The company is dedicated to preventing a variety of adverse cardiovascular-related events including strokes, and significantly improving healthcare through the development and use of non-invasive ultrasound technologies for diagnosis, monitoring, and therapeutic effects. Based in Seattle, Washington, Spencer Technologies is involved in all aspects of ultrasound through integrated patient services, clinical research, R&D, manufacturing, and marketing its products and services. The company was ranked among the 2003 Washington State Fast 50 by Deloitte & Touche. For more information, visit http://www.spencertechnologies.com/.
About Terumo Cardiovascular Systems
Terumo Cardiovascular Systems Corporation, a subsidiary of Terumo Corporation of Tokyo, Japan, manufactures, markets, and sells monitoring systems and cardiopulmonary bypass products for U.S. and other global cardiac surgery markets. It is headquartered in Ann Arbor, Michigan with manufacturing operations in Ann Arbor, as well as Elkton, Maryland; Ashland, Massachusetts; Tustin, California; and Matamoros, Mexico. Terumo Corporation is a premier global medical company with 2002 annual sales in excess of 200 million yen ($1.87 billion). Terumo Corporation develops, manufactures, and markets a wide range of medical products including syringes, needles, catheters, and blood bags.