Medrad receives 2003 Malcolm Baldrige Award from President Bush

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President Bush on Tuesday presented the 2003 Malcolm Baldrige National Quality Award to Medrad Inc. for its manufacturing excellence.

The award is managed by the U.S. Commerce Department's National Institute of Standards and Technology (NIST) in conjunction with the private sector. Sixty-eight organizations applied for the award in 2003, including 10 in the manufacturing category.

Commerce Secretary Donald Evans said the seven recipients' - the most Baldrige Award recipients since the program started in 1988 - "commitment to excellence and to ethical, responsible behavior is key to strengthening our enterprises and is the foundation for America's overall security and success."

Medrad received the award for, among other accomplishments, achieving an average annual revenue growth rate of 15 percent since 1998. Total revenues in 2002 were $254 million.

Hundreds of Medrad employees watched the ceremony live via satellite in Pittsburgh and around the world. In accepting the honor, Friel credited the company's 1,200 employees and their "commitment to delivering performance excellence every day. This recognition belongs to them."

He also attributed much of the company's success to the Baldrige process, which Friel said, began "15 years ago, when the first Baldrige awards were announced. Performance Excellence has since become the blueprint for exceeding the expectations of our customers, shareholders and employees."

Medrad, a U.S. affiliate of Schering AG, provides vascular injection systems, MR surface coils and accessory products and equipment services.