According to Millennium Research Group's (Waltham, Massachusetts) "U.S. Markets for Visualization and High-Tech Devices 2008" and "European Markets for Visualization and High-Tech Devices 2008" reports, the visualization device market in these regions was worth a combined total of more than $1 billion in 2007.
This market will see rapid growth, driven by the adoption of true high-definition (HD) camera systems for use in endoscopic procedures, reaching more than $2 billion by 2011, Millennium said. Given its ability to sharpen images captured during surgery, HD technology is expected to revolutionize both the US and European visualization device markets.
In the U.S., sales of HD camera systems are expected to completely replace those of standard-definition three-chip camera systems by 2010. In fact, HD-formatted devices will become the new standard of care for imaging in the U.S. hospital environment. Although adoption will be slightly slower in the European market, HD devices still will dominate new endoscopic camera system sales by 2012.
HD endoscopic camera systems comprise a camera head and a camera control unit, which function together to capture endoscopic images. Camera heads are charge-coupled devices that convert pixels in the image into electrical charges based on the pixel's color in the color spectrum, thereby allowing physicians to view the surgical site and internal structures in color.
Power3 Medical receives CLIA recertification
Power3 Medical Products (Houston), a company specializing in diagnostic tests for the early detection of breast cancer and neurodegenerative diseases, has received its CLIA compliance recertification following a CLIA regulatory inspection.
Power3 earned its CLIA recertification to offer high complexity tests after meeting standards for knowledge, training, expertise, quality control, quality assurance and testing proficiency. With CLIA recertification, Power3 is able to continue offering its blood serum-based tests, BC-SeraPro and NuroPro.
CLIA, or Clinical Laboratory Improvement Amendments, are U.S. federal regulatory standards that apply to all clinical laboratory testing performed on humans in the U.S., except clinical trials and basic research. The CLIA Program sets standards and issues certificates for clinical laboratory testing. The FDA has assumed primary responsibility for performing the complexity categorization functions that include the process of assigning commercially marketed in vitro diagnostic test systems to one of three CLIA regulatory categories based on their potential risk to public health.
Philips exiting TVs, emphasizing healthcare
Royal Philips Electronics (Amsterdam, the Netherlands) said it is exiting the television business in the U.S. and Canada, focusing instead on its healthcare, lighting and other products.
Philips-branded TVs will still be sold, but the sets will now be made under license by Funai Electric (Tokyo) for at least five years. Funai already sells Emerson, Sylvania, Symphonic and other lower-priced brands in the North American market. The company said it was taking a charge of up to 1125 million (about $196.3 million) for the Funai transition.
Organogenesis to expand Canton facility
Skin-substitute maker Organogenesis (Canton, Massachusetts) is planning to significantly expand its Canton facility.
"We are really exploding with growth, for the fifth year in a row," Organogenesis CEO Geoff MacKay said. "We really need to expand to meet the physicians' demand," he said.
The company plans to triple its Canton office space, fueled, it says, by a $12.9 million incentive package created by the state's Office of Business Development and another $5 million in state-sponsored loans.
The company said it plans to keep its 150 Dan Rd. facility and expand into two nearby buildings. "We are transforming into a campus," MacKay said. "It's a pretty aggressive expansion, in terms of the bricks and mortar."
St. Mary Medical Center to expand cardiology labs
St. Mary Medical Center (Langhorne, Pennsylvania) said that it will expand its cardiology services by adding two new procedure rooms to its cardiac cath labs. Currently home to three procedure rooms, St. Mary will invest more than $30 million to make this upgrade.
To date, nearly 35,000 procedures (nearly 4,000 procedures annually) have been performed in the cath labs, making the St. Mary cardiology team one of the region's most experienced, it said. Since the cath labs were last expanded in 1999, the service has experienced a greater than 88% increase in patient volume.
St. Mary's staff consists of more than 600 physicians, 2,400 other employees and 700 volunteers.