News | May 01, 2015

Frost and Sullivan Names Toshiba Company of the Year

Toshiba’s value-based business model enables customers to leverage their vendor organization as a growth partner

Based on its ongoing analysis of the medical imaging market, Frost & Sullivan recognizes Toshiba America Medical Systems, Inc. with the 2015 North American Frost & Sullivan Award for Medical Imaging Company of the Year. The company has changed the way it approaches the imaging market by offering scalable, upgradable technologies and a patient-focused view of partnerships. This value-based approach positions the company for continued success in the medical imaging market by allowing it to re-orient many of its imaging customers away from a cyclical sales model and toward deeper, more renewable strategic partnerships.

Toshiba’s partnership approach is proving highly beneficial for its customers, while also providing the company with a solid outlet for the premium products and technologies across its medical imaging portfolio.

“Toshiba’s move toward establishing value as the foundation of the organization is a massive undertaking, involving the restructuring, training and education of internal teams across business units—all the way from R&D to customer support,” said Frost & Sullivan industry principal Nadim Daher. “The company has acknowledged value as a Mega Trend and has prioritized aligning its business model with the evolution of customers’ purchasing processes.”

The company’s consultative go-to-market strategy allows it to offer customized single-modality or multi-modality solutions, typically mixing of premium and value imaging systems along with value-add services, such as tailored education and training. It enhances the overall purchase experience for customers with greater flexibility in pricing, deployment and service models. This helps it compete as a best-of-breed vendor and a single vendor in the modalities of computed tomography (CT), magnetic resonance (MR), interventional and diagnostic X-ray, ultrasound, and positron emission tomography (PET).

As customers for its cross-modality offerings continue to increase, Toshiba is focusing internally on developing new synergies across its product lines by investing in transversal technologies. For instance, the technology behind the innovative Dose Tracking System (DTS) that it introduced for the angiography X-ray product line can be leveraged in other radiation-emitting modalities, such as CT.

Another example of Toshiba’s market growth is its recent entry into the U.S. molecular imaging market through the introduction of the new Food and Drug Administration (FDA)-cleared Celesteion PET-CT system. This homegrown solution considerably enhances Toshiba’s value proposition for the oncology imaging specialty, one of the most solid growth areas for imaging, and complements it dominance in other specialties, such as cardiovascular and radiology imaging.

“Importantly, Toshiba’s brand equity is rising in the marketplace among both departmental and enterprise-level customers, thereby encompassing various stakeholders in large-scale medical imaging investments,” observed Daher. “More provider organizations are choosing Toshiba, as the company goes beyond the role of supplier and partners with them to help them achieve their business goals.”

Overall, for its higher value proposition, customer benefits, market leadership, and implementation of best practices, Toshiba America Medical Systems is a deserving recipient of Frost & Sullivan’s 2015 North American Company of the Year Award.

Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in terms of growth strategy and implementation. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.

Frost & Sullivan’s Best Practices Awards recognize companies in a variety of regional and global markets for outstanding achievement in areas such as leadership, technological innovation, customer service, and product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research.

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