Held for the fourth consecutive year, the awards banquet recognised companies across pharmaceuticals, clinical diagnostics, imaging, generics, biotech, clinical research organisations and medical devices sectors. The evening of achievement and celebration saw regional and local representation from the healthcare industry.
Of those in attendance to receive their coveted titles were the who's who of the industry like Ahmet Genel, Managing Director, Pfizer; Mark Engel, Chairman, Excel Pharmastudies; Elmo de Alwis, CEO and Managing Director, Sigma Pharmaceuticals; Dr. Wim M. M. Botermans, Regional Managing Director, Asia, IBA Health; Grace Park, Singapore Country Director, Medtronic; Tony Wilkey, CEO, Prudential Corporation Asia; amongst several others.
Speaking at the banquet, Reenita Das, senior vice president for Healthcare practice at Frost & Sullivan Asia Pacific, commented that the healthcare sector in Asia is expected to perform better than its counterparts in the US and Europe in the coming years. She added that Frost & Sullivan predicts that Asia will take up about 25 percent of revenues in the next 3 years, from its current level of approximately 18 percent.
Elaborating on the likely cause for this shift, Reenita said, "Asia has evolved to become the new frontier for pharmaceutical firms in search of their next blockbuster drug while keeping research costs low. Companies need to set their strategic sights on a future global environment where Asia will not only be a product market, an outsourcing center or a manufacturing powerhouse but also a key component of drug discoveries and high end innovation."
Frost & Sullivan ascertains the growth in Asia Pacific healthcare through the annual excellence awards where best-practices, high-end innovation and drug discoveries in Asia are recognised and applauded.
The Awards seek to showcase best practices in the industry segments which are synonymous with Frost & Sullivan in-depth analysis and coverage of the Healthcare industry. In keeping with our time-honored commitment in pursuit of excellence and innovation, the awards offered are carefully reviewed and evaluated to reflect the current market landscape and include new emerging sectors.
Frost & Sullivan analyst team short-lists companies for each award category, based on detailed research on market performance. Additionally, interviews are conducted with key personnel of short- listed companies to substantiate, validate and update information collected about each company. The information is then consolidated and a competitive matrix is prepared for internal panel of judges to deliberate before the final list of recipients is derived.
The companies commended as award recipients are those that have displayed exemplary achievements in areas such as market leadership, marketing strategy, business development strategy, innovation, breadth of services and solutions, growth strategy and customer acquisition strategy, geographical presence, amongst others.
Two special awards have been added into the honour-roll this year in a bid to recognise the services of companies not operating within the healthcare space but serving the healthcare community at large. They are the 2009 Healthcare Insurance Company of the Year and the 2009 Singapore Entrepreneurial Company of the Year.
Speaking about the inclusion of these awards Sohini Mitra, Research Manager for Healthcare practice at Frost & Sullivan says "As consumers' purchasing power grows, along with a growing awareness of therapeutic options, healthcare insurance has begun to assume greater significance than ever before. Keeping the enhanced significance of healthcare insurance in view, we took our first step this year, towards recognizing best practices in this industry and plan to continue doing so in the coming years"
~ Frost & Sullivan congratulates all the outstanding recipients of the 2009 Frost & Sullivan Asia Pacific Excellence in Healthcare Awards ~
Healthcare IT Company of the Year InterSystems Corporation
Healthcare IT Competitive Strategy Leadership of the Year IBA Health Group Limited
Multinational Pharmaceuticals Company of the Year Pfizer, Inc.
Generics and Biotech
Generics Company of the Year Sigma Pharmaceuticals Limited
Biotech Company of the Year CSL Limited
Clinical Research Organisation
Clinical Research Organization of the Year Excel PharmaStudies, Inc.
Clinical Research Organization Competitive Strategy Leadership of the Year Excel PharmaStudies, Inc.
Clinical Research Organization Growth Strategy Leadership of the Year Excel PharmaStudies, Inc.
Self-Monitoring Product of the Year i-SENS, Inc.
Minimally Invasive Devices Company of the Year Medtronic International Limited
Medical Devices Distributor of the Year Berli Jucker Public Corporation
Medical Devices Emerging Company of the Year Uscom Limited
Clinical Diagnostics Company of the Year Roche Diagnostics Limited
Ultrasound Company of the Year Siemens Healthcare
Digital Radiology Company of the Year Philips Healthcare
Medical Imaging Competitive Strategy Leadership of the Year Carestream Health Inc.
Medical Imaging Market Leadership of the Year Philips Healthcare
Medical Imaging Product Innovation of the Year ACIST Medical Systems
Healthcare Insurance Company of the Year Prudential Corporation Asia
Singapore Entrepreneurial Company of the Year Moleac Pte. Ltd.
The Awards banquet is supported by IBM. Media partners include Asia Pacific Biotech News, BioSpectrum Asia, Business Today, Chinamedi.com, Medical News, Medical Supplies Annual Directory, Pharma in Focus, and Pharma Asia. Supporting organisation for the awards is Infinity21 and the official newswire is PR Newswire.
For more information on the annual healthcare awards visit, healthcare-awards.com.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 31 offices on six continents.