With its investment in CardioNexus Corporation, a portfolio company of Houston’s Fairway Medical Technologies, Panasonic Corporation of North America has signaled its plans to become a player in the increasingly important field of personalized preventive medicine.

The investment follows an earlier Panasonic initiative to establish a presence in the world’s largest medical complex, Houston's Texas Medical Center – with which Fairway Medical Technologies is a close partner.
 
"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 CEO of Panasonic.
 
"We welcome Panasonic’s commitment to healthcare, and hope to make the Texas Medical Center the global hub for personalized preventive medicine,” added Morteza Naghavi, MD, president and CEO of Fairway Medical Technologies. 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).
 
In August, a Panasonic Healthcare Day hosted by Fairway Medical Technologies and BioHouston in the Texas Medical Center provided an opportunity for Panasonic executives to address the Texas Medical Center and engage in a dialogue with leading Healthcare professionals and researchers.
 
“The Texas Medical Center is absolutely unique," said Jacqueline Northcut, president and CEO of BioHouston, a non-profit organization founded by Houston-Region academic/research institutions to establish Houston as a Global Competitor in life science. "Nowhere in the world can you find such a collection of more than 16,000 MDs, PhDs, and other medical professionals with advanced degrees all in one place. We are pleased Panasonic has realized the potential of working with TMC institutions."

Panasonic and Fairway have formed CardioNexus Corp., as their first joint initiative to enter the application-specific device market, an area in which they will be able to leverage Panasonic’s core medical imaging technologies. The move is a step toward establishing a leadership position in the field of personalized preventive medicine through early disease detection and home healthcare.
 
“Having Panasonic launch its healthcare initiative from Houston and the Texas Medical Center is a tremendous win for our city and will offer manifold benefits for the Texas Medical Center,” said Jeff Moseley, president and CEO of the Greater Houston Partnership.