How to create a HUD item like DeadSpace Stasis Meter?

I am curious how I can create a HUD item like the Stasis meter in DeadSpace? I have done something similar in another engine, but this involved cutting the whole image into 100 sections and basing the player's health as percentage(I did it with 10 pieces of the image because 100 is a lot). Anyway my method for Unity would be creating 100 pieces of the health meter being completing full then 99% a slight piece missing and then if health was 50% to be health of the full image, and so on. Is this the only way to approach this? Or is there animation approach? I know the health in the FPS Shooter tutorial, but this I believe is a horizontal bar just being scaled down, which doesn't work with a curved image.

Would this Shader idea be a possible solution?

Answered here: http://answers.unity3d.com/questions/7449/creating-a-circular-progressbar-timer/7474#7474

I used a 3D Object with Ortho 2nd camera on it then just rotated the curved objects a percentage as they took damage or used energy. If I want so make it smoother I will use the above answer, but everyone is happy with this right now. Just had trouble positioning it at different Resolutions and aspects at first, but I think thats all worked out too.