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Frost and Sullivan Chooses Medwave for its 2003 Technology Innovation Award
TUESDAY, JUNE 03, 2003 4:06 PM
- PR Newswire
DANVERS, Mass., Jun 3, 2003 /PRNewswire-FirstCall via COMTEX/ -- Medwave, Inc. (MDWV) announced today that Frost and Sullivan has chosen Medwave to receive the prestigious 2003 Technology Innovation Award. The Frost and Sullivan Market Engineering Award for Technology Innovation is given to the company that has demonstrated technological superiority within its industry. This award recognizes the ability of a company to successfully develop and introduce new technology, formulate a well-designed product family, and make significant product performance contributions to the industry. This award is given each year to the company that has demonstrated excellence in technology innovation in the market.
Frost and Sullivan recognized the superiority of Medwave's technology by stating: "The Vasotrac represents a milestone in the automated blood pressure monitoring market. In the future, sensor based monitoring could be combined with data downloading capabilities to develop applications for home use and telemedicine."
Tim O'Malley, President and CEO of Medwave, Inc. states, "This is a proud day for Medwave, Inc., including its employee's, shareholders, and customers. Medwave embarked on a journey many years ago to develop a method of monitoring blood pressure, which would approximate the accuracy of an invasive catheter with greater comfort and convenience than a blood pressure cuff. Over the past few years, we have been building momentum and continually gaining more and more validation that our technology is the most significant breakthrough in blood pressure monitoring in more than 30 years. Blood pressure is one parameter in medicine that has not benefited from technological advancements until Medwave introduced the Vasotrac monitor in 2000. Medwave's technology is the most universal, non-invasive blood pressure monitoring product on the market today. The Vasotrac is currently functioning in clinical situations and environments where a non-invasive blood pressure cuff is not an option. In addition, Medwave's technology works effectively enough to allow clinicians the flexibility to reduce, or even eliminate, usage of invasive catheters in specific patients, resulting in significant expense and patient risk reductions."
O'Malley continued: "We have accomplished a great deal over the past few years. Obtaining the Child Health Corporation Seal of Acceptance last year coupled with the Frost and Sullivan Market Engineering Award for Technology Innovation certainly indicates that others agree with our assessment of the impact our technology is having on patient care. We have added some very prestigious medical centers to our customer list, and are seeing that customers are ordering multiple times from us. This innovation award is the latest validation that our technology assists the medical community in treating their patients more effectively with less invasiveness."
Founded in 1961, Frost & Sullivan, a global leader in growth consulting presents Market Engineering Awards to companies that demonstrate excellence in their industry, commending the diligence and innovative business strategies required to advance in the global marketplace. Frost & Sullivan rigorously analyzes specific criteria to determine Market Engineering Award recipients in a vast variety of market industries and landscapes. For further information, visit www.frost.com .
Medwave, Inc. develops, manufactures, and distributes non-invasive blood pressure products. Its Vasotrax(R) Hand Held Monitor, the Vasotrac(R) APM205A NIBP Monitor, and the MJ23 OEM Module are new approaches to non-invasive blood pressure monitoring. Medwave has received the necessary regulatory clearances to market its technology in Europe, Asia, and North America. Medwave is ISO9001/EN46001/MDD93/42/EEC certified, and all of its products are CE marked. Medwave has entered into distribution agreements throughout various parts of the world and Medwave's technology is installed in over 500 hospitals and clinics worldwide. The company trades on the NASDAQ small cap market under the symbol MDWV.
Statements made in this release that are stated as expectations, plans, anticipations, prospects or future estimates or which otherwise look forward in time are considered "forward-looking statements" and involve a variety of risks and uncertainties, known and unknown, which are likely to affect the actual results. The following factors, among others, as well as factors discussed in the Company's filings with the SEC, have affected and, in the future, could affect the Company's actual results: resistance to the acceptance of new medical products, the market acceptance of the Vasotrac(R) system and other products of the Company, hospital budgeting cycles, the possibility of adverse or negative results or commentary from clinical researchers or other users or evaluators of the Company's products, the Company's success in creating effective distribution channels for its products, the Company's ability to scale up its manufacturing process, and delays in product development or enhancement or regulatory approval. Consequently, no forward-looking statement can be guaranteed and actual results may vary materially. Medwave(R), Vasotrac(R), and Vasotrax(R) are trademarks of Medwave, Inc.
SOURCE Medwave, Inc.
