Raymedica Inc has received the Frost & Sullivan "2002 Market Engineering Technology Innovation Award" for its PDN prosthetic disc nucleus, an implantable device used to treat low-back pain. The PDN device utilizes hydrogel technology to relieve complex spinal pain resulting from degenerative disc disease. This annual award is given to a company that demonstrates technological superiority within its industry, and recognizes that company's ability to develop and introduce new technology and make significant product performance contributions.
"We are very pleased to receive the Technology Innovation Award," said Tony Phillips, Raymedica president and chief executive officer. "Surgeons have long sought alternatives to spinal fusion in patients suffering from debilitating low-back pain. The PDN device takes a distinctly different approach that addresses many of the shortcomings of other implant procedures."
The Technology Innovation Award is one of five awards sponsored by Frost & Sullivan. Other award recipients include Biomet's EBI division, Arthrocare, Stryker Spine and Medtronic Sofamor Danek.
Frost & Sullivan, a global leader in international strategic market consulting and training, presents Market Engineering Awards to companies that demonstrate the diligence, perseverance and dedication required to develop a successful business plan and excel in the increasingly competitive global marketplace. Frost & Sullivan rigorously analyzes specific criteria to determine Market Engineering Award recipients in a variety of regional and global market landscapes.