October 5, 2009 - The 2009 Frost & Sullivan European Medical Imaging Emerging Company of the Year Award in the radiology applications market is conferred on Viatronix for its innovative 3D computer imaging technologies in the diagnostic imaging space.
"Despite being a young company, Viatronix has shown dedication to both developing and distributing high-end, organ-specific 3D clinical solutions, while advancing its ability to address changing market trends," saidFrost & Sullivan Research Analyst Gideon Praveen Kumar. "The company has emerged as a leader in the 3D imaging market in Europe as a result of recent high profile partnerships and its active engagement with the medical community through participation in clinical trials and physician training programs."
Since its inception, the company has strived to offer efficient diagnostic solutions in areas such as colon cancer screening, cardiac analysis and vascular analysis. Through its innovative, cost- effective offerings that reduce read time, Viatronix applications optimize the utilization of CT scanners.
"Grasping the potential offered by the fast growing PACS market, the Company has added a robust PACS interface to its clinical applications, besides offering software-only solutions," says Kumar. "Viatronix has, therefore, not only tapped into the trend of offering advanced visualization technologies through PACS, but has also successfully kept itself at the forefront of developing market trends for end users to turn to high-end, organ-specific clinical solutions as opposed to general purpose 3D imaging."
In 2005, Viatronix entered into a partnership with Eastman Kodak Company (now known as Carestream), a global leader in advanced healthcare products. The company successfully integrated its V3D-Colon application into the CARESTREAM PACS System, allowing Viatronix to leverage the sales and marketing potential of Carestream to reach an extensive customer base.
Viatronix also entered into separate agreements with iCAD Inc., and Medicsight PLC regarding the integration of colon CAD. The Company has also signed an agreement with Visage Imaging Inc., for the distribution of it V3D-Colon platform.
"As the medical imaging world moves from a 2D arena to 3D arena, Viatronix's primary marketing efforts have been to sponsor and offer educational programs to radiologists," remarks Kumar. "Along with additional on-site training rendered to physicians, these educational programmes have made the technological barrier as simple as possible for physicians."
In Dec. 2003 in the landmark clinical trial published in the New England Journal of Medicine that put virtual colonoscopy on the world map and for the first time showed a high degree of sensitivity and specificity, the Viatronix V3D-Colon platform was the only platform used. Subsequent to the 2003 clinical trial, the Viatronix V3D-Colon product has been used in many clinical trials in Europe and the U.S. Viatronix V3D-Colon remains the only module on the market with a large number of clinical trials under its belt with more on their way.
The base 3D visualization workflow that has been developed by Viatronix is now being utilized into developing different organ-specific clinical applications in a cost-effective manner. The company is currently focused on the roll out of its V3D-Cardiac module which is expected to be another industry leading product.
"Viatronix enjoys a competitive edge by having similar workflows and a simple look and feel across all of its products," concludes Kumar. "Also, by providing software-only, organ-specific modules, Viatronix has gained an aggressive advantage over competitors who either require specific hardware for their applications and/or require the end user to purchase a base module before being able to acquire organ specific clinical applications."
The Frost & Sullivan Award for Emerging Company of the Year is presented to the company that has emerged as a significant participant within its industry. This company is perceived to have exhibited outstanding management, superior market growth, exceptional customer service and the ability to combine technology and successful strategic initiatives. This company has the exceptional know-how to take advantage of market changes through the execution of innovative strategies within the existing competitive landscape.
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.