SAN DIEGO, Jan. 19 /PRNewswire/ -- BeamOne LLC, has entered into a definitive agreement to acquire the medical products irradiation service centers of Titan Scan Technologies Corporation, a subsidiary of The Titan Corporation. The transaction includes the contract sterilization service centers located in San Diego, California; Denver, Colorado; and Lima, Ohio. The centers will continue to provide the state-of-the-art contract sterilization services to the medical device industry using Titan’s electron beam (ebeam) irradiation systems. The closing of the transaction is subject to certain closing conditions and is expected to be completed within 30 days.
Ray Calhoun will serve as BeamOne’s President & CEO, Stephen P. Meyer as the Chairman of the Board, Larry Gabele as the CFO and Glenn Thibault as the Executive Vice President. Calhoun, Meyer and Thibault were all previously originators of The Titan Corporation’s Titan Scan Division and were instrumental in its successful launch within the medical device industry.
“We are all very excited to continue the vision of providing the benefits of ebeam processing to the marketplace and capitalize on the solid performance reputation established by Titan for efficacy, reliability and customer service,” said Mr. Calhoun. “Our plans are to grow the business by building a strategic network of ebeam processing facilities for the contract market on a national and international scale.”
Union Bank Of California, Huntington Capital and private equity investors are providing the acquisition financing. Kerry Morris of Shoreline Partners represented BeamOne, LLC. and David Duval of Claiborne Advisors provided investment banking advisory services to The Titan Corporation.
About BeamOne
Formed in 2004, BeamOne anticipates that at the time of closing it will have over 50 employees, more than 100 medical device customers and will provide services on a 7/24 basis at its three operating facilities.
BeamOne LLC
CONTACT: Rachel Huber of SpearHall Advertising & PR, +1-858-586-1202,for BeamOne LLC; or Suzie Perlman, Marketing Coordinator of BeamOne LLC,+1-303-320-6777