BeamOne Completes the Acquisition of Titan Scan Technologies Corporation Service Centers
BeamOne LLC, has completed the transaction to acquire the medical products like irradiation service centers of Titan Scan Technologies Corporation. It is a subsidiary of The Titan Corporation. The acquisition agreement that was first announced on January 19, 2005 brings Titan Scan’s three contract sterilization service centers under the management of BeamOne LLC. BeamOne LLC is a San Diego based company.
Union Bank Of California, Huntington Capital and private equity investors provided the acquisition financing. Kerry Morris of Shoreline Partners represented BeamOne, LLC. David Duval of Claiborne Advisors provided investment banking advisory services to The Titan Corporation
BeamOne LLC, has three service centers. They are located in Denver, Colorado; Lima, Ohio; and San Diego, California. These centers will continue to provide the state-of-the-art contract sterilization services to the medical device industry using Titan’s electron beam (e-beam) irradiation systems.
BeamOne’s President & CEO, Ray Calhoun; Stephen P. Meyer, Chairman of the Board; and Glenn Thibault, Executive Vice President, were all previously originators of the Titan Corporation’s Titan Scan Division. This company became instrumental in its successful launch within the medical device industry. With Larry Gabele as BeamOne’s CFO, the company now plans to expand its strategic network of e-beam processing facilities for the contract market.
Mr. Calhoun stated that the company was excited to consummate this transaction and looking forward to the service opportunities ahead in the medical device and pharmaceutical industries. The company’s primary objective is to become the number one contract sterilizer for radiation processing to the industry.