The Medical Device Business Journal — Medical Device News & Articles | MassDevice
Hiroyuki Fujita
Photo courtesy of MedCity News
Quality Electrodynamics won a national award for technology innovation from the Small Business Administration.
CEO Hiroyuki Fujita is visiting Washington, D.C., Tuesday to receive the Tibbetts Award, which typically goes to companies that have received grants from the SBA and go on to develop technology that creates a big economic impact.
Quality Electrodynamics won a six-year tax credit valued at nearly $250,000 for an expansion of the company’s Mayfield, Ohio, headquarters.
The 8,000- to 10,000-square-foot expansion of the 27,000-square-foot HQ is expected to help create 60 jobs, according to a statement from the Ohio Dept. of Development. The company will use the additional space for research, development and operations.
The accolades continue to pile up for Quality Electrodynamics.
The developer of advanced coils and electronics for magnetic resonance imaging machines was named to Inc. Magazine’s list of 500 fastest-growing companies in the United States, ranking 13th among healthcare firms and 193rd overall.
Inc. cited QED for its nearly 1,500 percent growth rate over the last three years. The publication listed the Mayfield, Ohio-based company’s annual revenues at $11.9 million.
