With the widespread adoption of digital cameras, it's easy to understand the phenomenal growth of Imaging Dynamics. The company, founded in 1995, has revolutionized the way medical professionals handle X-rays by replacing traditional analog X-ray systems with cutting-edge digital radiography equipment. The advantages of digital radiography are similar to those of digital photography: it's speedy, requires no film processing, and offers simple transfer and storage capabilities.

Imaging Dynamics didn't invent digital radiography, admits company CEO and president Darryl Stein. But through its technology platform, the charge-coupled device (CCD), the company has been able to dramatically reduce the cost of digital radiography equipment — something its competition hasn't been able to do.

"We took a different road by developing CCD," says Stein, who explains that CCD uses the same technology as a handheld digital camera. "Our competitors are using flat-panel technology, which is very expensive. But our equipment continues to come down in price." While Imaging Dynamics credits part of its rapid growth to the cost advantage, Stein stresses that the company didn't expand into 30 countries on price alone.

International market conditions also helped: the medical community worldwide had begun to embrace digital radiography, but found the pricing prohibitive. They were looking for solutions that were affordable and flexible, two areas in which Imaging Dynamics could deliver.

Until two years ago, Imaging Dynamics was marketing a high-end model of its digital radiography technology. "But we realized that the entire world doesn't need something that powerful. Many people are much more concerned about price," he says. "So we took the original design and de-featured it." The process of creating a simpler, less expensive model took over a year and required more than 300 technical changes. But in the end, Imaging Dynamics was able to tap into markets they never imagined would use digital radiography. The company now sells digital components, as well as complete systems, which allows customers to incorporate Imaging Dynamics' technology into existing systems.

As a result, the company's customer base is not just the medical market, but also the chiropractic, veterinary and orthopedic fields. And although 60 percent of Imaging Dynamics' revenues come from the United States, the company has expanded globally, recently quadrupling sales in China and selling its first 20 units in Latin America. The company has also announced that Toshiba will be incorporating Imaging Dynamics' digital radiography products into its offerings in Canada — a move Stein describes as converting a competitor into a customer.

What's next for Imaging Dynamics? Continuing to sharpen its technology and prices, expanding into other international markets, and turning more of its competitors into customers. "The medical business is the last frontier for digitization," says Stein. "And we're helping change that."