Award acknowledges company's pioneering spirit in new technology developments.
Frost & Sullivan has presented Spirus Medical, Inc., with the 2007 Frost & Sullivan U.S. Endoscopy Entrepreneurial Company of the Year Award, in recognition of its development of a radical technology to diagnose and treat gastrointestinal complications.
With the development of the Endo-Ease™ Endoluminal Advancement System (EAS™), which forms the technological platform for Spirus’ line of products, this emerging medical device company aims to transform the future of diagnosis and treatment of gastroenterological, urological and gynecological disorders.
While the EAS technology is used along with the traditional flexible endoscope, its unique feature of facilitated rotation allows gentler and easier navigation through the gastrointestinal tract. This allows it to offer enhanced diagnostic and therapeutic functionality compared to existing treatment techniques, while its single-use design makes it cost effective and eliminates the need for investment in expensive capital equipment.
"Spirus Medical’s vision lies in paving the path for advanced technology that will revolutionize the way in which diagnostic and therapeutic instrumentation is navigated and positioned through the various lumens of the body," says Frost & Sullivan Research Analyst Archana Swathy. "The company shows great promise in providing innovative therapeutic solutions, and is supported in this mission by the leadership and guidance of its team of highly experienced individuals."
Spirus has designed its entire line of products with a view to revolutionizing GI endoscopy. Endo-Ease Advantage™ and Endo-Ease Vista™, for example, have a spiral element that promotes ease of rotation and a conduit that facilitates smooth advancement of the scope. The Endo-Ease products are compatible with conventional slim and pediatric colonoscopes and look set to transform the outlook of colonoscopy.
The design of the Endo-Ease Advantage is shorter than the Endo-Ease Vista, allowing the colonoscope to navigate easily through the sigmoid colon, otherwise a challenging task for many physicians. After crossing the sigmoid colon, the scope detaches from the device.
The Endo-Ease Advantage then performs the function of stabilizing the sigmoid colon, while the scope advances further through the colon to execute the required task. The Endo-Ease Vista, which is longer, has the ability to offer rotational advancement of the scope even after traversing the sigmoid colon.
The year 2006 saw Spirus Medical achieving many milestones. The company not only raised substantial funds from the investment community, but also received 510k approval to market its EAS technology. The Food and Drug Administration (FDA) also granted 510k approval to the Endo-Ease Discovery SB, while in Europe, the Endo-Ease Advantage and Endo-Ease Vista products received "Conformité Européenne" (CE) approval prior to their launch.
"FDA approval and CE marking for its products will spur Spirus’s growth and strengthen its ability to make a significant impact in the market as well as to continue transforming minimally invasive endoscopy," says Archana. "It is this demonstration of commitment and the strong potential to achieve these goals that has earned Spirus Medical the 2007 Frost & Sullivan U.S. Endoscopy Entrepreneurial Company of the Year Award."
Each year Frost & Sullivan presents this Award to a small company that has demonstrated superior entrepreneurial ability in its industry during the research period. This Award signifies the company's identification of a unique and revolutionary product solution with significant market potential. Additionally, the award certifies that the company's marketing strategy is sound and poised for success.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Spirus Medical, Inc.
Spirus Medical, Inc., headquartered in Stoughton, Mass., was incubated and founded in 2005 by STD Med, Inc., a Stoughton-based manufacturer and developer of medical technologies. Spirus has developed a revolutionary Endoluminal Advancement System (EAS) for GI Endoscopy that represents a significant breakthrough by enabling gastroenterologists to perform flexible endoscopy procedures more efficiently. In addition, Spirus is developing other devices incorporating this same proprietary platform technology for use in urological and gynecological procedures.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.