Frost & Sullivan Recognizes TeraRecon's Accomplishments in Innovating Advanced Visualisation Applications
By Frost Sullivan, PRNESunday, May 2, 2010
LONDON, May 3, 2010 - Based on its recent research on the medical imaging market, Frost &
Sullivan presents TeraRecon with the 2010 European Frost & Sullivan Award for
Company of the Year. Innovation in technology is TeraRecon's Unique Selling
Proposition (USP). The company offers technological advantages that have
enabled it to grow over 50 per cent in the last couple of years, irrespective
of the economic downturn.
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This is significant because the European medical market is a tough one.
In general, the pursuit towards acquiring validation of a medical product is
a long procedure and with the introduction of the third amendment - a medical
devices directive that requires manufacturers to predict the safety and
efficacy of their product performance in the long and short terms - more
challenges will be experienced by manufacturers in obtaining approvals.
Therefore, it is critical for a company to have organized and efficient
protocols for innovating new products with a faster turn-around time.
Besides, cultural differences prevalent among many European nations mean that
a product adopted successfully in one country with justifiable reasons may
fail in another country if the cultural difference is ignored.
"In a highly evolving field such as advanced visualisation image
processing, a company's success relies on faster turn-around cycles in
product innovation and efficient marketing strategies," says Frost & Sullivan
Senior Research Analyst Shriram Shanmugham. "TeraRecon has shown a high
degree of innovation both in its product and business processes, garnering
customer loyalty and market penetration."
TeraRecon offers an advanced 3D image processing capability deployed
through a server based hardware architecture. This compact architecture
provides image processing solutions for the entire radiology department. The
image processing software that TeraRecon offers has a high degree of
automation, capable of segmenting specific nodules of any organ. Moreover,
this automation occurs in a "pre-declared" form even before the radiologist
begins to execute further manipulations and necessary interpretations. The
company also offers a decision support platform that aids radiologist and
other physicians to make better assessment of the images.
The company's technological innovation is accompanied by a terrific team
of country wise managers. TeraRecon practices decentralized management
strategies across Europe. Each country manager provides effective business
development that encompasses an intricate understanding of the product as
well as the culture of the region. TeraRecon's top management provides
assistance and support to the individual country manager's decision.
"TeraRecon's primary customers are advanced medical research universities
in Europe mainly because TeraRecon is probably the only company that thinks
of product innovation beyond the complexities of radiology department," says
Shanmugham. "Clients who are aware of TeraRecon's vision take their own
initiatives to request the company in customising a new product application."
Realising the potential for its expertise, TeraRecon is set to continue
to innovate with further advanced visualisation applications in the CT, MR
and PET spectrum in the future. For these achievements, the company is the
worthy recipient of the 2010 European Award for Company of the Year in the
advanced visualisation market.
Each year, Frost & Sullivan presents this award to the company that has
demonstrated innovative growth strategies and implementation. Besides the
degree of innovation in business processes, products and/or technologies, the
award also lauds the recipient's leadership in customer value and the
resulting market penetration.
Frost & Sullivan Best Practices Awards recognize companies in a variety
of regional and global markets for demonstrating outstanding achievement and
superior performance in areas such as leadership, technological innovation,
customer service, and strategic product development. Industry analysts
compare market participants and measure performance through in-depth
interviews, analysis, and extensive secondary research in order to identify
best practices in the industry.
About TeraRecon
TeraRecon has become the largest independent vendor from a revenue
perspective in the European advanced visualisation market. Perceived as a
technology leader, TeraRecon has pioneered the enterprise model for advanced
visualisation and continues to capitalize on direct sales to end customers at
the enterprise level, where it recognises the large majority of its revenue.
Its solution is recognised as the most advanced in the marketplace in terms
of its remote access capabilities, as well as for its performance, which
constitute the two most important features of advanced visualisation
solutions after ease-of-use. The TeraRecon solution leverages the company's
own uniquely powerful custom visualization hardware technology, or when
appropriate, purely software-based alternatives.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to
accelerate growth and achieve best-in-class positions in growth, innovation
and leadership. The company's Growth Partnership Service provides the CEO and
the CEO's Growth Team with disciplined research and best-practice models to
drive the generation, evaluation, and implementation of powerful growth
strategies. Frost & Sullivan leverages over 45 years of experience in
partnering with Global 1000 companies, emerging businesses and the investment
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please visit www.awards.frost.com.
Contact: Catherine Brassell Best Practices Frost & Sullivan catherine.brassell@frost.com ---------------------------- DDI: +44-207-915-7867
Catherine Brassell, Best Practices, Frost & Sullivan, +44-207-915-7867, catherine.brassell at frost.com
Tags: Frost & Sullivan, ireland, London, May 3, United Kingdom