Medrad Inc. has received the 2003 Malcolm Baldrige National Quality Award in recognition of achievements in quality and business excellence in the manufacturing category.
Sixty-eight organizations applied for the award in 2003, including 10 in the manufacturing category.
"This recognition belongs to the employees of Medrad, who have built a world-class company with an exciting future," said Medrad President and CEO John P. Friel. "Their commitment to improving the quality of health care, satisfying our customers and delivering unsurpassed quality in all aspects of our business has earned this recognition."
The 2003 award process began in April, when Medrad completed a self-assessment based on the award criteria. In May, Medrad submitted a 55-page application describing its achievements in seven required business areas: Leadership, Strategic Planning, Customer & Market Focus, Measurement, Analysis & Knowledge Management, Human Resource Focus, Process Management and Business Results.
Eight examiners conducted an on-site review in October, including interviews with more than 300 U.S. and global employees, and a review of 5,000 pages of documents, in order to confirm the business practices described in Medrad's application.
Medrad has doubled revenues from approximately $123 million in 1997 to $254 million in 2002. Over the six years, manufacturing capacity has been expanded three times and international export sales now account for one-third of total revenues.