LONDON, April 14, 2015 /PRNewswire/ -- Based on its recent analysis of the hantavirus point-of-care (POC) diagnostics market, Frost & Sullivan recognises Reagena Oy Ltd. with the 2015 European Frost & Sullivan Award for Customer Value Leadership. Reagena's impressive year-on-year growth rate of 25 percent in 2014 was the result of its single-minded focus on niche areas such as hantavirus. Its dedication to providing outstanding customer value through consistent quality and efficiency sets it apart from its competitors.
In response to the prevalence of hantavirus cases in the rural areas of Western Europe, Reagena introduced the ReaScan POC test. This lateral flow membrane-based technology is ideal in areas with poor access to quality healthcare, as the tests are rapid and do not require advanced medical technology or skilled technicians. Normally, it delivers readings in 15 minutes, but in cases of high infection levels, the reading time can be lower.
"The ReaScan test is a semi-quantitative test that comes with a pocket reader that converts the results into a numerical value to help diagnose the intensity of infection," said Frost & Sullivan Senior Research Analyst Srinivas Sashidhar. "Significantly, ReaScan tests can help detect borderline cases, as the results are converted to a numerical value that can be compared with the stated threshold values. Furthermore, it is a visual test that uses a very small sample of serum, plasma, or even fingertip blood, unlike competing products."
To ensure consistent reliability and efficiency, Reagena participates in external quality-assessment programs that help improve the quality of diagnoses in laboratories. These efforts have evidently paid off, as customers rate Reagena highly in terms of brand value.
Reagena has proven extremely popular in Finland, where its manufacturing site is located. Finland has high incidence of hantavirus infections and is an important market for Reagena; the growth in this country is well supported by high sales in the other Nordic countries as well. The company has distribution networks in 30 countries, including Germany, France, Austria, Slovenia, Norway and Sweden.
In addition to retaining 100 percent of its existing large company clients, Reagena acquired 12 new customers in 2014. It offers additional value to customers by educating them on the effects of hantavirus and the need to test for infections.
"Reagena's product quality is one of the highest and most consistent in the market," noted Frost & Sullivan Senior Research Analyst Srinivas Sashidhar. "All its products are compliant with ISO 9001:2008 and ISO 13485:2003 standards, and have been granted the in vitro diagnostics CE mark."
The high motivation of Reagena's staff is reflected in the company's commitment to quality and consistency, which, in turn, has helped it pull ahead of its peers.
"The key to the long-term success of any company is its ability to continuously nurture and enhance the value of its products and/or services to its customers. As such, Frost & Sullivan is excited to recognize Reagena for its industry leading focus on improving customer experience and customer impact with its ReaScan test for hantavirus detection," said Frost & Sullivan Global President & Managing Partner, Krishna Srinivasan.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in implementing strategies that proactively create value for its customers with a focus on improving the return on the investment that customers make in its services or products. The award recognises the company's inordinate focus on enhancing the value that its customers receive, beyond simply good customer service, leading to improved customer retention and ultimately customer base expansion.
Frost & Sullivan Best Practices awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
About Reagena Oy Ltd.
Reagena targets to innovate and manufacture novel diagnostic tests for the detection of zoonotic diseases. Zoonosis is the process whereby an infectious agent is transmitted from various animal species to cause a disease in humans. Our mission is to improve patient care and human health with better diagnostics of the zoonotic diseases. In 2001, Reagena was the first in the world to launch a rapid test for Hantavirus diagnostics (Puumala virus). In 2014, Reagena launched the world's first rapid test for fast diagnosis of acute tick-borne encephalitis (TBE). Learn more at www.reagena.com.
About Frost & Sullivan
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Mr. Markku Parviainen,
Managing Director, CEO
Reagena Oy Ltd.
E-mail: [email protected]
Best Practices Group
Frost & Sullivan
E-mail: [email protected]
SOURCE Frost & Sullivan