Commitment to Quality Earns Mediatech, Inc. The 2005 Frost & Sullivan Product Quality Leadership Of The Year Award
PALO ALTO, Calif., March 15 /PRNewswire/ -- Frost & Sullivan's recent analysis of the U.S. select cell culture market recognized Mediatech, Inc. as the recipient of the 2005 Product Quality Leadership of the Year Award for providing exemplary cell culture and molecular biology products for the biotherapeutic, biotechnology, and research markets.
Each year Frost & Sullivan presents this Award to a company that has demonstrated superior quality control in product manufacturing. Quality control is an essential element of satisfying customers, increasing repeat buying behavior, and assuring long-term market survival.
"Tremendous growth opportunities exist in the media market. However, regulatory and safety concerns are driving the move toward improving the quality of sera and media used for the manufacture of biotherapeutic products. There is a growing trend to not use animal components when manufacturing human therapeutics," says Frost & Sullivan Research Analyst Martin Nejat. "Clearly, higher standards are required for products that are used to manufacture drugs that will be consumed by humans and Mediatech has met this challenge by providing higher quality media and serum."
Due to its stringent design and process controls, Mediatech is able to offer the market first-rate diagnostic grade products. Mediatech's patent-pending technology will allow it to produce media bottles validated to 1x10-6 sterility assurance levels.
This meets the same specifications as autoclave sterilization. Furthermore, Mediatech's proprietary technology results in significant savings in product manufacturing and packaging. The company passes the savings to its customers, thus offering high quality products at lower prices.
"Central to Mediatech's success in the cell culture market is the focus on meeting the regulatory needs of its customers," notes Nejat. "Mediatech is certified to have the most recent ISO standard entitled, Medical Devices-Quality Management Systems-Requirements for Regulatory Purposes."
Since ISO standards are used internationally, both U.S. and international customers are assured of Mediatech's product quality. Thus, Mediatech is in a position to better penetrate international markets. Moreover, the company is in compliance with current Good Manufacturing Processes (cGMP) guidelines and Class I Medical Devices FDA requirements.
Demonstrative of Mediatech's commitment to product quality is the growth the company has experienced over the last decade. Mediatech has reported a seven-fold increase in size and both its domestic and international customers are growing. In addition, Mediatech is investing $10 million in a state-of-the-art 100,000-ft corporate and manufacturing facility.
These factors justify Mediatech's reception of Frost & Sullivan's 2005 Product Quality Leadership of the Year Award.
Frost & Sullivan's Excellence in Medical Devices & Healthcare Awards Banquet honors outstanding industry achievements by presenting Awards to top companies in regional and global markets. Our teams of industry experts recognize the diligence and innovation required to implement a successful business plan and excel in the increasingly competitive global marketplace. Worldwide media and the investment community recognize these awards presented at the annual event, which takes place March 15, 2006 in San Francisco, California.
About Mediatech, Inc.
Mediatech, Virginia Biotechnology Association Company of the Year for 2004 is based in Herndon, Virginia. Now in its 22nd year, Mediatech manufactures and supplies cell culture and molecular biology reagents to biopharmaceutical, academic and government research facilities, as well as biotechnology companies. This diverse portfolio includes cell culture media, salt solutions, antibiotics, sera, and bioprocess collection containers. Mediatech was granted approximately $1.2 million in state funding to move to Innovation @ Prince William. For more information, visit http://www.cellgro.com .
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.frost.com .
Contact: Stacie Jones 210.247.2450 Stacie.jones@frost.com
Frost & SullivanCONTACT: Stacie Jones of Frost & Sullivan, +1-210-247-2450, orStacie.jones@frost.com