SIGNAL HILL, Calif., Dec. 6, 2010 /PRNewswire/ -- The medical technology developed by Integrated Medical Systems, Inc., has been recognized by the U.S. Department of Health and Human Services and the U.S. Treasury Department as a "qualified therapeutic discovery." The designation earns the company a grant to off-set its development efforts. The Qualifying Therapeutic Discovery Project designation and grant is provided for under the Patient Protection and Affordable Care Act of 2010. The Act set aside $1 billion for projects that show a reasonable potential to result in new therapies to treat areas of unmet medical need or to prevent, detect or treat chronic or acute diseases and conditions. The government anticipates these projects will help reduce the long-term growth of health care costs in the United States. Awarding of the grant also takes into consideration projects that show the greatest potential to create and sustain high-quality, high-paying U.S. jobs, as well as advancing the competitiveness of the U.S. in life, biological and medical sciences.
"The recognition, which we share with our collaborators in the U.S. Department of Defense, underscores the significance of our advanced information architecture that is making integrated patient care platforms possible," remarked Todd Kneale, president and chief operating officer of the company. "As the first and only company to develop and market fully-integrated FDA-cleared devices incorporating both diagnostic and therapeutic devices, data systems and supporting utilities, the associated grant will allow us to extend the product family, support commercialization efforts, and grow the company by creating new jobs."
The advanced information architecture developed by the company is the cornerstone of a growing family of products based on a customizable suite of modular medical devices, data systems, and support utilities. These modules are connected by a common data bus, comm
|SOURCE Integrated Medical Systems, Inc.|
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