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Panasonic Makes Investment in Houston-based CardioNexus Corp.

Mon, 10/25/2010 - 6:33am
Bio-Medicine.Org

SECAUCUS, N.J., Oct. 25 /PRNewswire/ -- Panasonic Corporation of North America has completed an investment in CardioNexus Corporation, a portfolio company of Houston's Fairway Medical Technologies which works closely with the Texas Medical Center. The move is part of Panasonic's plans to establish itself as a global leader in Personalized Preventive Medicine. The investment follows on an earlier Panasonic initiative to establish a presence in the world's largest medical complex, the Texas Medical Center based in Houston.  

"We are excited about this unique opportunity and view it as the beginning of a productive and mutually beneficial relationship," said Joseph M. Taylor, Chairman and Chief Executive Officer of Panasonic Corporation of North America.

"We welcome Panasonic's commitment to Healthcare, and hope to make the Texas Medical Center the global hub for Personalized Preventive Medicine," says Morteza Naghavi, M.D., president and chief executive officer of Fairway Medical Technologies. Dr. Naghavi also is a former member of the cardiology faculty at the University of Texas Health Science Center and Co-Director of the Vulnerable Plaque Research Department at the Texas Heart Institute.  Fairway is a portfolio company of BCM Technologies (the commercialization arm of Baylor College of Medicine).

Panasonic has recently made important moves to expand its interests in the field of healthcare. In May, the president of Panasonic Corporation, Fumio Ohtsubo, stated the company's intention to reinforce the healthcare business in the group by announcing plans to change its subsidiary's name from Panasonic Shikoku Electronics Co., Ltd to Panasonic Healthcare Co., Ltd on October 1st of this year. In August, a Panasonic Healthcare Day hosted by Fairway Medical Technologies and BioHouston in the Texas Medical Center provided an opportunity for Panasonic executives, including Mr. Taylor, to address the Texas Medical Center and engage in a dial

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