QED earns Inc. 500 recognition for fast growth

QED President Hiroyuki Fujita and CWRU President Barbara R. Snyder

The accolades continue to pile up for Quality Electrodynamics, the designer and maker of advanced coils and electronics for magnetic resonance imaging (MRI) machines better known as QED.

The company recently was named to Inc. Magazine’s list of 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 magazine listed QED’s annual revenues at $11.9 million.

Last September, QED was cited as one of the nation’s most promising companies by Forbes Magazine, which lauded the company for its big-name customer base, which includes Siemens and Toshiba.

QED also is held up as one of the biggest success stories of Ohio’s Third Frontier high-tech jobs program. The company last year announced ambitious plans that were to be funded in part by Third Frontier dollars — quadrupling its suburban headquarters and doubling its 40-member staff within 18 months.

Founder and CEO Hiroyuki Fujita is the former director of engineering for GE Healthcare. Fujita started QED in 2006 during a one-year stint as director of imaging physics at Case Western Reserve University.