Houston, TX (PRWEB) October 27, 2010
Houston-based Fairway Medical Technologies Inc. has been selected by Panasonic Healthcare Co., Ltd. (a subsidiary of the global consumer electronics and technology giant, Panasonic Corporation) to introduce innovative medical technologies. The collaboration aims to advance healthcare in the areas of early disease detection, in-hospital workflow improvement, and home healthcare.
"Through our relationship with Panasonic, we hope to make Houston and the Texas Medical Center a global leader in Preventive Personalized Medicine" says Morteza Naghavi, M.D., president and CEO of Fairway Medical Technologies. Dr. Naghavi also is a former member of the cardiology faculty at the University of Texas Health Science Center and Co-Director of the Vulnerable Plaque Research Department at the Texas Heart Institute. Fairway is a portfolio company of BCM Technologies (the commercialization arm of Baylor College of Medicine).
"The Texas Medical Center is the largest medical complex in the world and we are pleased Panasonic has realized the potential of working with TMC institutions," said Jacqueline Northcut, president and CEO of BioHouston, a non-profit organization founded by Houston-Region academic/research institutions to establish Houston as a global competitor in life science.
"We expect the relationship we have developed with Panasonic to be very well received by the Houston business community, as it generates new business opportunities," said Leo Womack, Fairway's chairman of the board. "Through its formal entry into healthcare, Panasonic is making a major commitment to the betterment of society" he added.
While Panasonic has designed and manufactured OEM medical equipment for over 30 years, the company's decision to create Panasonic Healthcare signals its plans to become a global leader in healthcare.
In August, a Panasonic Healthcare Day hosted by Fairway Medical Technologies and BioHouston provided an opportunity for Panasonic executives, including Joseph M. Taylor, Chairman and Chief Executive Officer of Panasonic Corporation of North America, to address the Texas Medical Center. "We are looking forward to collaborating with you (the Texas Medical Center), learning about your needs, and providing you with our latest technologies," said Mr. Taylor.
"This is a tremendous win for our city and the Texas Medical Center," said Jeff Moseley, president and CEO of The Greater Houston Partnership who spoke at the Panasonic Healthcare Day luncheon.
Today the two companies announced the formation of CardioNexus Corp., as their first joint initiative entering the application-specific device space designed to leverage Panasonic's core medical imaging technologies to achieve its goal of early disease detection.
"This is an exciting time for Panasonic Healthcare as we join the Texas Medical community through CardioNexus," said Steven Lynum, Director of Clinical Products, Panasonic Healthcare Group, Panasonic Corporation of North America. "We look forward to growing this relationship over the coming years."
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Based in Secaucus, NJ, Panasonic Corporation of North America provides a broad line of digital and other electronics products for consumer, business and industrial use. The company is the principal North American subsidiary of Panasonic Corporation (NYSE: PC), and the hub of Panasonic's U.S. branding, marketing, sales, service and R&D operations. Panasonic Corporation of North America's newly formed Healthcare Group brings together Panasonic's expertise in a wide range of health and medical device technologies, including hearing care. For more information visit http://www.panasonic.com/hearing. Additional Panasonic information for journalists is available at http://www.panasonic.com/pressroom.
About Panasonic Healthcare Co., Ltd.
Panasonic Healthcare Co., Ltd., headquartered in Matsuyama, Japan, is a subsidiary of Panasonic Corporation (NYSE: PC) that specializes in the development and manufacture of healthcare products, including blood glucose monitoring systems, ultrasound diagnostic systems and hearing instruments. Founded in 1948, the company has been developing cutting-edge technologies in in-vitro diagnostic systems, medical imaging, hearing solutions, medical instruments and hospital systems to provide value-added solutions to healthcare professionals and patients. The previous corporate name was Panasonic Shikoku Electronics Co., Ltd., which was changed to the current Panasonic Healthcare Co., Ltd. on October 1, 2010.
About Fairway Medical Technologies
Founded in 1992, Fairway Medical Technologies is an FDA-registered medical device, design, development and manufacturing company which commercializes early-stage medical devices and technologies, including three which have secured FDA approval. As of 2009, Fairway's eight portfolio companies have received over $15 million in grants from the National Institute of Health and the State of Texas' Emerging Technology Fund. These companies offer technologies in the areas of cardiovascular screening, neurology and cancer screening and diagnosis. Fairway Medical Technologies also operates an FDA-compliant manufacturing facility where it designs and produces prototypes of medical devices and technologies. For more information, visit http://www.fairwaymed.com.
About CardioNexus Corporation
Founded on January, 2009 in Houston Texas, CardioNexus focuses on early detection of cardiovascular disease using an innovative multi-modality approach. For more information, visit http://www.cardionexus.com.