ThreeFold Sensors Honored as One of the 2009 "Michigan 50 Companies to Watch"
ThreeFold Sensors, an exciting new Michigan point-of-care diagnostic platform developer, today announced that it has been recognized as one of the 2009 “Michigan 50 Companies to Watch,” an awards program sponsored by the Edward Lowe Foundation and presented by Michigan Celebrates Small Business.
Ann Arbor, MI, April 13, 2009 --(PR.com)-- ThreeFold Sensors will be honored at an awards ceremony during the fifth annual Michigan Celebrates Small Business event, April 30 in Lansing, Mich.
“In today’s economy, Companies to Watch has become a real game changer,” says Penny Lewandowski, director of entrepreneurship development at the Edward Lowe Foundation, a nonprofit operating foundation based in Michigan. “It changes the conversation from slow-growth, layoffs and closings, to companies that are expanding, hiring, and moving beyond traditional markets.”
“Presenters of the Michigan program recognized this potential since its inaugural year, five years ago,” Lewandowski says. “With a vow to find 50 new companies to celebrate each year, Michigan 50 Companies to Watch is now 250 strong. These are the companies that sustain Michigan through tough times and are transforming how the rest of the nation views the state.”
ThreeFold Sensors is preparing to commercialize compact point-of-care medical diagnostic systems for performing blood tests in hospital emergency departments and critical care units where rapid, high sensitivity results are critical for saving patient lives. ThreeFold Sensors’ products include a point-of-care diagnostic test instrument, the POC-et Lab™, and a family of consumable test cartridges which will provide care providers, in 6 minutes or less, with clinically accurate measurements of disease markers in blood at the point of care. Tests under development include rapid and highly sensitive tests for heart attack, heart failure, stroke, sepsis, bacterial pneumonia, MRSA and more. Because the POC-et Lab™ has greatly improved sensitivity over existing point-of-care technologies, it will be possible for care providers to diagnose life threatening conditions and initiate treatment sooner than before. For conditions such as heart attack or stroke, rapid identification and initiation of treatment significantly improves prognosis for recovery with reduced physical damage. In addition, the ability to more rapidly rule-out conditions and allow patients to return home will improve patient satisfaction, minimize needless hospital stays for observation, streamline patient processing in emergency departments, and lower hospital costs.
“We are pleased to be a winner of the Michigan 50 Companies to Watch award” said Richard Farkas CEO of ThreeFold Sensors. “With so much bad news presented every day, it is rewarding to be part of a Michigan company working hard to make history by providing a sorely needed medical product that will be made in Michigan, but that will have world wide reach. Our unique and patented technology and working diagnostic test platform has aroused the interest of doctors and other health care professionals. We expect to move forward with finalizing our design, completing clinical trials and ultimately plan to set up a high technology manufacturing center right here in Michigan. We are grateful to be selected and join the other significant and successful companies that have won this award in recent years.”
Companies nominated for the “Michigan 50 Companies to Watch” list must be second-stage companies, defined as having 6 to 99 full-time-equivalent employees and generating $750,000 to $50 million in annual revenue or working capital from investors or grants. In addition, the companies must be privately held and headquartered in Michigan.
Winners were selected by judges from the banking, economic development, entrepreneurship development and venture capital communities. Judges evaluated the nominees’ demonstrated intent and capacity to grow based on one or more of the following:
• Employee or sales growth.
• Exceptional entrepreneurial leadership.
• Sustainable competitive advantage.
• Other notable factors that showcase the company's success.
Michigan 50 Companies to Watch is presented by Michigan Celebrates Small Business. National City, now part of PNC, is the lead underwriter for Michigan Celebrates Small Business. Other supporters include Clark Hill PLC, Michigan Economic Development Corporation, Accident Fund Insurance Company of America, Michigan Certified Development Corporation, IBM and Dynamic Edge.
Michigan Celebrates Small Business is presented in association with the Michigan Economic Development Corporation, Michigan Small Business & Technology Development Center, Small Business Association of Michigan, the U.S. Small Business Administration and the Edward Lowe Foundation.
Information about the 2009 Michigan 50 Companies to Watch program can be found at http://Michigan.CompaniesToWatch.org. For information about Michigan Celebrates Small Business, visit http://MichiganCelebrates.biz. Additional information about ThreeFold Sensors may be found at http://www.threefoldsensors.com.
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“In today’s economy, Companies to Watch has become a real game changer,” says Penny Lewandowski, director of entrepreneurship development at the Edward Lowe Foundation, a nonprofit operating foundation based in Michigan. “It changes the conversation from slow-growth, layoffs and closings, to companies that are expanding, hiring, and moving beyond traditional markets.”
“Presenters of the Michigan program recognized this potential since its inaugural year, five years ago,” Lewandowski says. “With a vow to find 50 new companies to celebrate each year, Michigan 50 Companies to Watch is now 250 strong. These are the companies that sustain Michigan through tough times and are transforming how the rest of the nation views the state.”
ThreeFold Sensors is preparing to commercialize compact point-of-care medical diagnostic systems for performing blood tests in hospital emergency departments and critical care units where rapid, high sensitivity results are critical for saving patient lives. ThreeFold Sensors’ products include a point-of-care diagnostic test instrument, the POC-et Lab™, and a family of consumable test cartridges which will provide care providers, in 6 minutes or less, with clinically accurate measurements of disease markers in blood at the point of care. Tests under development include rapid and highly sensitive tests for heart attack, heart failure, stroke, sepsis, bacterial pneumonia, MRSA and more. Because the POC-et Lab™ has greatly improved sensitivity over existing point-of-care technologies, it will be possible for care providers to diagnose life threatening conditions and initiate treatment sooner than before. For conditions such as heart attack or stroke, rapid identification and initiation of treatment significantly improves prognosis for recovery with reduced physical damage. In addition, the ability to more rapidly rule-out conditions and allow patients to return home will improve patient satisfaction, minimize needless hospital stays for observation, streamline patient processing in emergency departments, and lower hospital costs.
“We are pleased to be a winner of the Michigan 50 Companies to Watch award” said Richard Farkas CEO of ThreeFold Sensors. “With so much bad news presented every day, it is rewarding to be part of a Michigan company working hard to make history by providing a sorely needed medical product that will be made in Michigan, but that will have world wide reach. Our unique and patented technology and working diagnostic test platform has aroused the interest of doctors and other health care professionals. We expect to move forward with finalizing our design, completing clinical trials and ultimately plan to set up a high technology manufacturing center right here in Michigan. We are grateful to be selected and join the other significant and successful companies that have won this award in recent years.”
Companies nominated for the “Michigan 50 Companies to Watch” list must be second-stage companies, defined as having 6 to 99 full-time-equivalent employees and generating $750,000 to $50 million in annual revenue or working capital from investors or grants. In addition, the companies must be privately held and headquartered in Michigan.
Winners were selected by judges from the banking, economic development, entrepreneurship development and venture capital communities. Judges evaluated the nominees’ demonstrated intent and capacity to grow based on one or more of the following:
• Employee or sales growth.
• Exceptional entrepreneurial leadership.
• Sustainable competitive advantage.
• Other notable factors that showcase the company's success.
Michigan 50 Companies to Watch is presented by Michigan Celebrates Small Business. National City, now part of PNC, is the lead underwriter for Michigan Celebrates Small Business. Other supporters include Clark Hill PLC, Michigan Economic Development Corporation, Accident Fund Insurance Company of America, Michigan Certified Development Corporation, IBM and Dynamic Edge.
Michigan Celebrates Small Business is presented in association with the Michigan Economic Development Corporation, Michigan Small Business & Technology Development Center, Small Business Association of Michigan, the U.S. Small Business Administration and the Edward Lowe Foundation.
Information about the 2009 Michigan 50 Companies to Watch program can be found at http://Michigan.CompaniesToWatch.org. For information about Michigan Celebrates Small Business, visit http://MichiganCelebrates.biz. Additional information about ThreeFold Sensors may be found at http://www.threefoldsensors.com.
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Contact
ThreeFold Sensors
Richard Farkas
(734) 995-9338
www.threefoldsensors.com
Richard Farkas
(734) 995-9338
www.threefoldsensors.com
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