| Frost & Sullivan Names Yoh-Chie Lu of Biosensors International Cardiovascular CEO of the Year
San Francisco, Calif. – March 25, 2004 – Frost & Sullivan announced today that it has recognized Yoh-Chie Lu of Biosensors International with the 2004 Cardiovascular CEO of the Year Award, presented at last night’s Global Excellence in Medical Devices Awards Banquet in San Francisco, CA.
Spearheaded by Mr. Lu, Biosensors has expanded not only its revenue and profits, but also its global presence. Mr. Lu’s pioneering efforts have established Biosensors as a name to reckon with in the cardiovascular medical devices industry.
Among his leadership initiatives, Mr. Lu has introduced dramatic changes in the corporate culture of the diversified international medical products and devices company, focusing the attention of his associates worldwide specific, carefully calibrated performance goals. He has identified innovative products, orchestrated operational excellence, cultivated teamwork, and emphasized a customer-centric approach as critical to the growth of the company.
He has also initiated key strategic alliances, most significantly with medical device giants Guidant and Terumo, both in 2003, for the development and marketing of innovative drug-eluting stents. This step has brought tremendous benefits not only to company stakeholders but also to the medical community’s quest for drugs and devices that now enable life-saving and life-enhancing treatment of previously inoperable cardiovascular patients.
Under Mr. Lu’s leadership, Biosensors has achieved a number of important technological breakthroughs, such as the development of the S-Stent. This revolutionary device is now being used extensively in hospitals and clinics in a number of countries to restore and maintain normal blood flow in coronary artery disease patients.
Biosensors’ S-Stent is implanted in clogged vessels and arteries to restore normal blood flow. A unique aspect of this device is that it was developed specifically for implantation in the relatively small, tortuous vessels typical of the Asian physique. The Company’s R&D, sales and manufacturing presence in Singapore gave Biosensors a strong advantage in developing the S-Stent. However, Mr. Lu’s technological vision for the product also encompassed its potential to be used in the Western world as well. Significant global alliances with companies such as Guidant and Terumo have been greatly instrumental in making this possible.
“Biosensors International, guided by Yoh-Chie Lu’s innovative growth strategies, is set to become a major market participant and a well-respected name among end users in the future,” said Frost & Sullivan industry analyst Amit Bohora. “Mr. Lu's initiatives have yielded aggressive returns for his company’s stakeholders. His focus on research and development, while continuing to serve the specific needs of end users in established markets worldwide, is expected to result in increased revenues and profits in the coming years.”
“It is indeed a gratifying honor to receive this award,” said Yoh-Chie Lu. “I would like to thank the Frost & Sullivan organization for evaluating our exciting progress over the last few years and crediting my part in it. Being rewarded for doing what you love to do is more fulfilling than I would ever hope for, and I am proud to share this award with all the hard-working and innovative members of the Biosensors International team. It is their efforts that are truly being recognized here.”
Frost & Sullivan presents CEO of the Year Award to the CEO whose outstanding leadership, vision, and integrity have had a profound influence on a company‘s performance and direction. The award commends the recipient for pursuing unique organizational restructuring or reengineering strategies that have positively impacted the company’s market position. Held annually, the Frost & Sullivan awards banquet recognizes world-class companies for outstanding performance and achievements in the medical devices industry.
About Biosensors International
Biosensors focuses its research in the fields of new drug discovery, stent design, and local drug delivery coating development for interventional cardiology markets worldwide. Biosensors International is a subsidiary of Biosensors International Group, and seeks to become a leading company specializing in cardiovascular technology. Its manufacturing facilities are certified by world authorities such as the FDA, TGA, ISO, and CE Mark. For more information, please visit www.biosensorsintl.com.
For more information, please visit http://www.biosensors.com.sg.
U.S. Contact: Biosensors International USA, (949) 553-8300
InvestorInfo@Biosensors-usa.com
Media Relations contacts: Sean Collins, CCG, (818) 789-0100 or (310) 497-9205; or Valerie Bent, (702) 270-9696.
About Frost & Sullivan
Founded in 1961, Frost & Sullivan is recognized as a global leader in growth consulting. Frost & Sullivan Awards are presented to companies that demonstrate excellence in their industry, commending the diligence, commitment, and innovative business strategies required to advance in the global marketplace. Frost & Sullivan rigorously analyzes specific criteria to determine award recipients in a vast variety of market industries and landscapes. For further information, visit www.frost.com.
Frost & Sullivan Contact:
Jamie Frizzell
210.247.2496
jfrizzell@frost.com
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