Medison Recognized for Growth Leadership in Europe

(Seoul, Korea), an industry-leading manufacturer of specialized diagnostic ultrasound systems, announced that the company has won the 2007 Frost & Sullivan Competitive Strategy Leadership Award in March 2007 in recognition of its strategic initiatives to establish itself as a leading enterprise in the European ultrasound market.

The award is presented each year to a company whose competitive strategy has yielded significant gains in market share during the research period.
"Medison has accomplished high growth in the world's biggest and most advanced market, Europe, by aggressive strategies and customer-oriented management,” said Karthik Arun B, head analyst from the Frost & Sullivan (Palo Alto, CA, USA), an international growth consultancy company. "Especially it showed great accomplishment in the high-end 3D [three-dimensional] ultrasound system,” he added.

The company implemented an aggressive strategy to achieve a significant market share, especially in the high-end 3D ultrasound segment across Europe. Medison commands a market share of almost 40% in the high-end 3D and 4D ultrasound segment in Europe in 2006.

"Medison ultrasound systems are acknowledged for their superior quality and highly competitive prices. We believe this award reflects that,” said Jae-Bum Choi, CEO, Medison, "We will build on this foundation to globalize the company by creating a system of local headquarters.”

Eighty-five percent of Medison's sales come from exports. It has global networks all over the world. The company has 10 overseas subsidiaries and 100 agencies in 90 countries. The local headquarters system will be introduced gradually by 2010. As a first step, Medison has established a European headquarters in Hoofddorp, the Netherlands in 2006.

Medison has emerged as a very important participant in the ultrasound market. The company has been successful in a market dominated by established multi-modality vendors. It has an aggressive pricing strategy and provides a top-of-the-line product range at highly competitive prices.

Medison, also winner of the Frost & Sullivan Product Differentiation & Innovation Award in 2001, was recognized as ‘The Highest Growth Rate Enterprise' by the ultrasound system market report ‘Klein Report' in 2004, recording a 94% growth rate in the U.S. market.


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