April 8, 2009 - Frost & Sullivan selected Aurora Imaging Technology for the 2009 Vertical Market Penetration Leadership Award in the North American Magnetic Resonance Imaging (MRI) Scanners Market in recognition of the company’s strong growth within the Breast MRI market due to its robust offering of imaging, IT and financial assistance solutions.
“The breast MRI market gained momentum in 2008 with several emerging studies highlighting the effectiveness and clinical excellence of the modality,” stated Travis Chong, industry analyst – Healthcare Sector, Frost & Sullivan. “As end-users sought a champion within this vertical market, Aurora Imaging emerged as the company wielding both functional technology and company excellence. On the technology side, Aurora introduced a new set of Breast MRI solutions that supplements the market’s only FDA-approved dedicated breast MRI scanner, marking the company’s clear understanding of the unique needs within the breast MRI market. Even more impressive, however, was the company’s introduction of capital financial and continued medical education activities that were directly tailored to assist operations,” added Chong.
“Aurora Imaging understands that being profitable in a vertical market such as breast MRI remains an ongoing challenge for imaging centers, especially given today’s current financial and economic turmoil. Imaging centers are increasingly struggling with rising operational costs and more stringent accreditation protocols, yet most are being presented “solutions” by sales-oriented manufacturers with generic messages that fail to address individual customers’ unique needs. Without the integrated support of imaging and IT, these “one-size-fits-all” solutions fail to resolve workflow and workforce deficiencies, leading to unrealized (and thereby lost) potential revenue channels and profitability.”
Chong continued, “Aurora breaks from the norm by defining success not by the initial sales the company achieves, but rather by its success in offering integrated imaging and IT services throughout a customer’s entire ownership experience. Such services are offered under two principles: 1) Increase awareness and accessibility to leading technology for breast MRI imaging through its Aurora Breast MRI Society (www.aurorabreastmri.com) and AuroraCAPITAL™ services, respectively, and 2) Equip the facility with the necessary imaging and IT tools to drive product utilization and realize additional channels to revenue. Indeed, on the technology side, the company introduced in November 2008 two innovations (AuroraSPECTROSCOPY™ and AuroraEDGE™) that bring additional clinical value to the Aurora® Dedicated Breast MRI scanner. AuroraSPECTROSCOPY™ is the company’s first breast MRI spectroscopy package that enables end-users to perform supplementary in-vivo breast MRI spectroscopy and MR spectroscopic imaging. The next-generation AuroraEDGE™ pulse sequence and image acquisition system goes even further with improved image resolution and the virtual elimination of motion artifacts. Additionally, AuroraEDGE offers isotropic 0.7mm resolution in all 3 planes with a total patient scan time of 18 minutes.”
“More impressive, however, is the solutions that have come forth from Aurora that assist its customers in entering and tracking the breast MRI market as well as in making adjustments to meet changes in clinical and business needs over time. The company announced in June 2008 the formation of AuroraCAPITAL, the company’s exclusive financing group created to assist customers with financing Aurora technologies. By leveraging its capital assistance prowess and flexibility in financial solutions tailored to individual customer needs, the company has effectively minimized major acquisition obstacles present in today’s limited capital world. As such, the company displays a rarified level of personal assistance that hallmarks the company’s continuous efforts to understand and improve the business model of each client.”
“In addition, the Aurora Breast MRI Society (established in 2006) launched its first issue of The Journal of Breast MRI in July 2008. Designed to relay emerging clinical and regulatory information on breast MRI, the journal serves as an invaluable knowledge resource that readers can leverage to track market dynamics and formulate growth-focused actionables based on best practices detailed within the journal. As the breast MRI market divides into further subsegments (i.e. MR spectroscopy, MR-guided biopsy, etc.), the journal is anticipated to function as a technology and best practice advisor to readers looking to gain a better understanding of the acute dynamics within each market segment.”
Chong concluded, “in short, Aurora has effectively differentiated itself in the industry with its complete set of technology, financial, and CME applications for breast MRI. Accordingly, the company has managed to achieve significant growth in 2007 and 2008. With promising technology and outstanding customer services, Aurora has positioned itself to be the leading technology provider in breast MRI for years to come. Based on these factors, Frost & Sullivan is proud to present Aurora Imaging Technology with the 2009 Vertical Market Penetration Leadership Award in the North American Magnetic Resonance Imaging Scanners Market.”
For more information: www.auroramri.com