Precision Announce Corporate Combination
July 2, 2018
Precision X-Ray, Inc., a pioneer in customized biological irradiators and Image Guided RadioTherapy (IGRT) systems for pre-clinical research, and Faxitron Bioptics, LLC (“Faxitron”), a highly respected manufacturer of dedicated cell and small animal x-ray irradiators, combine irradiation business assets under newly formed company.
DRMC X-Ray, Inc. (“DRMC”), an affiliate of Faxitron, was formed to take title to Faxitron’s irradiation assets and today announces the acquisition of the assets of Precision X-ray Inc.. Both Faxitron and Precision have deep roots in cabinet x-ray for biological irradiation. Under DRMC, this new combination will leverage the R&D strength and pedigree of Precision with Faxitron’s focus on integration and automation. Corporate headquarters, R&D and manufacturing operations will be located in North Branford, CT, the current home of Precision. DRMC will continue to operate under the Precision name.
The combined company has an enviable global installed base in excess of 1,000 systems and intends to substantially increase investment in all areas of the combined business to rapidly accelerate development and market adoption of its devices. “Both businesses have highly complementary, innovation-driven cultures. The culmination of the two creates a depth of knowledge and breadth of expertise unparalleled in our industry.” commented Paul Murtagh, Chairman of DRMC. “Biological irradiation is imperative to a vast scope of both fundamental and applied research. We look forward to building on the strong foundation of both businesses, as we continue their legacies by providing more advanced systems to further expand the use of X-ray in biological research and other irradiation applications.”
Bill McLaughlin, President of Precision, comments, “The X-ray systems and linked applications we provide play a pivotal role in radiation-based oncology, immunology, genetics and agricultural research.” He went on to add, “Having access to this broadened product range as well as the technical expertise and expanded service footprint of the two businesses will strengthen the irradiation solutions we can provide to our combined customer base worldwide. Our entire team is very excited to embark on this next phase of growth at Precision’s existing facility in Connecticut.”
Established in 2003, Precision is the world’s leading provider of high output X-Ray irradiators used in modern biological research. It is the company’s mission to continually develop X-ray systems that help researchers better understand radiation induced effects in the sciences of molecular biology and cancer research. Since the introduction of the X-RAD 320 in 2003, Precision has provided numerous customer focused innovations such as making small animal IGRT possible with the introduction of the 225Cx/SmART systems and the integration of dual modality x-ray/bioluminescence imaging with the recent release of the Optimax add-on platforms. Precision continues to be a leading technology innovator in the research irradiation field and beyond.
About Faxitron Bioptics, LLC’s irradiation business line (“Faxitron Irradiation”)
As the pioneer in cabinet x-ray imaging, Faxitron Irradiation very early on recognized the parallel market need for cabinet x-ray irradiation. The first irradiators were higher power versions of the standard imaging cabinets, but the company soon created dedicated units such as the RX-650 and CP-160. These were the respective predecessors to the modern CellRad and MultiRad ranges of today. Over this period the company’s global biological irradiation installed base has grown to over 1,000 systems. This has been driven by FaxitronIrradiation’s focus on fully integrated, compact and highly automated application-based irradiators. The systems are smaller, simpler, safer and more cost-effective alternatives to gamma radioisotope irradiators.