Respironics, Inc. (NASDAQ/NMS Symbol: RESP) is the recipient of this year's Frost & Sullivan Market Leadership Award in the sleep diagnostic device market based on the Company's continued market leadership, strategic advancement, technology innovation, and ability to adapt.
According to Frost & Sullivan (a global growth consulting company), the award acknowledges Respironics' market leadership in the sleep diagnostics segment and "...is given to the company that exhibits market share leadership through the implementation of market strategy. In addition, the recipient displays excellence in all areas of the market leadership process, including the identification of market challenges, drivers and restraints as well as strategy development and methods of addressing these market dynamics." Frost & Sullivan notes, "The award recipient continually demonstrates solutions for monitoring market changes and for implementing superior market strategies. By utilizing these strategies for success, the award recipient has established itself as the market share leader in its respective industry."
"We are extremely pleased with this honor and it is a reflection of the talent, dedication, and efforts of our entire engineering, plant services, field sales and product support teams." says Ron Fligge, Global Product Manager, Sleep Diagnostics, Respironics Sleep and Home Respiratory Group. "I believe our growth in sleep diagnostics is due to our expanding portfolio of solutions that includes the Alice â 5 Sleep System, Alice â Sleepware â Software, Stardust â II Sleep Recorder, new interactive training tools, and accessory options," Mr. Fligge adds.
To choose the recipient of the award, Frost & Sullivan analysts track competitor revenue and market share within the industry. This is achieved through interviews with all market participants and extensive secondary research of proprietary data sources. Frost & Sullivan compares the rankings for relative position and presents the award to the company that receives the number one industry rank. In addition, award recipients are chosen based on one or more of the following criteria: market share, revenue growth rates, profitability, and market and technology innovation.
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. More information about the award, research methodology, and award criteria, is available at www.frost.com.
Respironics' Sleep and Home Respiratory Group is recognized worldwide for its continuous stream of medical innovations and advancements in the management of sleep disorders and chronic respiratory problems . The Group integrates state-of-the-art technology in diagnostics, therapy and monitoring with strategic problems to help health care providers, and sleep centers care for patients efficiently and cost-effectively.
Respironics is a leading developer, manufacturer, and distributor of innovative products and programs that serve the global sleep and respiratory markets. Focusing on emerging market needs, the Company is committed to providing valued solutions to help improve outcomes for patients, clinicians and health care providers. Respironics markets its products in 131 countries and employs more than 4,600 associates worldwide. Further information can be found on the Company's Web site: www.respironics.com.