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Akron Medical Innovation Firm Announces Capital Infusion to Manufacture Medical Imaging Systems Globally
FMI Technologies Inc. (FMI) of Akron, Ohio and a Hangzhou, China investment group have agreed to an $18 million infusion of capital that will grow FMI’s ScintiStar Medical Imaging product lines in the United States, China and emerging markets.
The high-technology medical devices will be manufactured in
FMI is a tenant in the City of
“The growth and development of these new jobs is possible
because of the tremendous support we have had from the City of
FMI has developed innovative medical imaging technologies that combine three major medical imaging modalities into one common system - “X-ray Computed Tomography” (commonly known as CT scanning), Positron Emission Tomography (PET), and nuclear medicine Single Photon Emission Computed Tomography (SPECT).
The FMI system’s unique technical advantage results in an image resolution that is three to ten times improved over current whole body systems. The FMI system is also one-third the cost of competitive systems. The ScintiStar product family is used for advanced Cardiac Imaging, Neuro Imaging, Breast Imaging, and whole body CT and PET imaging.
FMI has created a new company, “FMI China,” that will
manufacture and distribute the product line to the burgeoning
The FMI/FMI China agreement will allow development of
pre-production units and establish sales, manufacturing and service
FMI will also be developing, selling, manufacturing, and
servicing the ScintiStar Cardiac LPX PET/CT for the
Global sales for respective products are projected to exceed $500 million in 5-6 years.
FMI will have headquarters in
FMI will be increasing its technical staff to thirty people in 2011, and will be recruiting high quality engineering professionals, technical support, and manufacturing personnel to meet program objectives over the next twelve months.
At today’s news conference at Akron city hall, McCroskey also said
that a second initiative in the field of imaging could further
enhance the Akron Biomedical Corridor. “We would like to establish a Global Center of
Multi-Modality Imaging of the Heart, Brain, Breast, and Bones,”
McCroskey said. Such a center
would be operated in conjunction with medical facilities in
“I appreciate the vision, assistance, guidance, and
facilities for our operations that have been provided by
FMI Technologies Inc.
526 South Main St. #812