Highlights Include Possis Acquisition and Patient Care Innovations
WARRENDALE, Pa., March 26 /PRNewswire/ -- MEDRAD, INC.'s revenues grew to over $600 million in 2008, an increase of more than 10 percent over the previous year (excluding the effect of the Possis Medical, Inc. acquisition). A worldwide leading provider of diagnostic imaging and therapeutic medical devices, MEDRAD has achieved a double-digit annual revenue growth for over 10 years.
2008 business highlights include the acquisition of Possis Medical, award-winning product innovations and LEED certification for two new buildings.
"The Possis acquisition created the cornerstone of our vascular intervention strategy, and marks our renewed commitment to providing therapeutic solutions for improved patient care," said MEDRAD President and CEO John Friel. "We are not immune to the impact of a down economy, but there will always be a demand for improving patient outcomes with innovative, cost-efficient products."
MEDRAD acquired Possis Medical in April 2008, pairing Possis' leadership position in the thrombectomy market with MEDRAD's cardiovascular products and worldwide infrastructure. Possis develops, manufactures and markets pioneering medical devices for the large and growing cardiovascular and vascular treatment markets. The company's AngioJet(R) product is the world's leading mechanical thrombectomy system, with FDA approval to remove large and small clots from coronary arteries, coronary bypass grafts, and peripheral arteries and veins. This segment of MEDRAD's business is now known as MEDRAD Interventional/Possis.
MEDRAD also launched its Intego(TM) PET Infusion System in 2008. By automating and controlling Fluorodeoxyglucose (FDG) dosing and infusion, this innovative system minimizes the need to manually prepare and handle individual FDG doses, reducing potential radiation exposure to hospital personnel by more than 20 percent. Intego was named one of Medical Imaging Magazine's top eight most innovative products of the year.
Encouraged by the successful results of its P3T(TM) Cardiac personalized patient protocol software, MEDRAD expanded its clinical applications to include the diagnosis of pulmonary embolism. Achieving a diagnostic CT image for pulmonary embolism, without limitations, helps hospital and emergency departments with efficiency, patient care and cost savings.
MEDRAD received some significant recognitions over the past year:
About MEDRAD, INC.
MEDRAD, INC. develops, markets and services medical devices used to diagnose and treat disease. Its product offerings include fluid injection systems for radiology and cardiology, endovascular devices for the safe treatment of cardiovascular disease, magnetic resonance-compatible accessories and equipment services. MEDRAD's total 2008 revenues were over $600 million. The company's world headquarters is near Pittsburgh, Pennsylvania, in the United States. MEDRAD is a business of Bayer Medical Care. More company information is available at www.medrad.com.
The Bayer Group is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. Bayer HealthCare, a subsidiary of Bayer AG, is one of the world's leading, innovative companies in the healthcare and medical products industry and is based in Leverkusen, Germany. The company combines the global activities of the Animal Health, Consumer Care, Medical Care and Pharmaceuticals divisions. The pharmaceuticals business operates under the name Bayer Schering Pharma. Bayer HealthCare's aim is to discover and manufacture products that will improve human and animal health worldwide. Find more information at www.bayerhealthcare.com.
Cautionary statement regarding forward-looking statements.
Certain statements in this press release that are neither reported financial results nor other historical information are forward-looking statements, including but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and Bayer's plans and objectives to differ materially from those expressed or implied in the forward-looking statements. Bayer undertakes no obligation to update publicly or revise any of these forward-looking statements, whether to reflect new information or future events or circumstances or otherwise.
|SOURCE MEDRAD, INC.|
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