MITA AWARDED COMMERCE DEPARTMENT FUNDING TO INCREASE MEDICAL IMAGING TECHNOLOGY EXPORTS
Rosslyn, Va. – The Medical Imaging & Technology Alliance (MITA) today announced it was awarded funding through the Commerce Department’s International Trade Administration (ITA) Market Development Cooperator Program (MDCP). This award will increase exports and expand patient access to diagnostic medical imaging, radiation therapy and radiopharmaceuticals in emerging markets. MITA was one of only five nonprofit industry organizations to receive this award. Through this program, MITA will work cooperatively with ITA and other stakeholders to streamline government approval processes to reduce the time and cost it takes clinically proven diagnostic and therapeutic imaging products to reach patients in China and India.
The three-year agreement with the Department of Commerce, named the Global Diagnostic and Therapeutic Imaging Access Improvement Initiative, will promote the harmonization of international standards, reduce unnecessary regulation and expand market access to enhance the global competitiveness of MITA member companies including small and medium sized enterprises’ (SMEs).
According to the Commerce Department, MDCP awards “include financial and technical assistance from the International Trade Administration (ITA) to support well-defined business plans aimed at increasing exports and U.S. competitiveness within certain industries.”
Dave Fisher, executive director at MITA said: “This funding and partnership will enhance MITA members’ ability to bring innovative imaging technologies to market, improve global access to life-saving therapies and diagnostic equipment and create good-paying jobs right here at home. MITA’s deep expertise in standards setting, our growing international operations, knowledge of, and experience in, regulatory arenas make us an ideal partner for this important Commerce Department program.”
“Through the partnership created by these awards we will multiply the number of U.S. firms that receive help selling more of their goods and services abroad,” said Acting U.S. Commerce Secretary Rebecca Blank. “Exports projected to result from the five new projects will create or sustain more than 10,000 U.S. jobs.”
Specifically, ITA will provide over $200,000 in funding as one piece of a three-part program that includes support from MITA and industry. This program will enable MITA to better identify problems, work more closely with regulators in China and India to enhance their ability to properly test the safety and quality of new devices as well as assist them in their efforts integrate with accepted international standards and market environments. MDCP activities will also help MITA work with in-country decision-makers to more fully understand the practical implications of their policy proposals, helping them avoid decisions that prevent their citizens from having access to life-saving medical technology that reduces the likelihood of medical errors and lowers the long-term cost of health care in underserved populations.