Analogic Corporation Explained

Analogic Corporation
Type:Private
Traded As:NASDAQ:
Foundation:, in Wakefield, Massachusetts
Location:Peabody, Massachusetts
Industry:Health Care (Medical Equipment & Devices)
Products:Medical & Security Imaging Systems and Subsystems
Revenue:$486 million (FY 2017)
Owner:Altaris Capital Partners, LLC
Num Employees:1,500 [1]

Analogic Corporation is an American multinational corporation specialized in healthcare technology and aviation security industries. Primarily producing CT scan, digital mammography and MRI equipments for health facilities, the company also develops baggage screening, checkpoint and motion control technologies for airports.[2] [3]

History

Bernard M. Gordon founded Gordon Engineering in 1963. The company is later renamed to Analogic Corporation in 1967.[4] While at Analogic, Gordon and his engineering team conceived and developed the first digital waveform analyzing and computing instrumentation; "instant imaging" Computed Tomography (CT) system; portable, mobile CT scanner; and the first three-dimensional, multi-slice, dual-energy explosive detection CT system, among many other pioneering products.[5]

The company opened a manufacturing facility in Shanghai, China, in December 2009.[6]

Analogic Corporation was acquired in 2018 by an affiliate of private equity firm Altaris Capital Partners.[7] [8]

Company

As of April 2018, the company employs 1,500 employees worldwide with approximately 800 working at the main facility and headquarters in Peabody, Massachusetts.[9]

Jim Green, who had been CEO for nine years, stepped down from his position in 2016.[10] He was succeeded by Fred B. Parks.[11] Tom Ripp is the current CEO.[12]

Analogic was included in Electronic Design's list for the Top 50 Employers in Electronic Design in 2012. It was also selected by the Boston Globe as one of the top 100 companies in Massachusetts in 2013.[13]

Acquisitions

Ultrasonix Medical Corporation

Ultrasonix Medical Corporation was a Vancouver, Canada-based sonography equipment company founded in 2000 which Analogic acquired in 2013 as a strategic expansion of its own ultrasound imaging product line and customer base, including an installed base of 5,000 systems globally.[14] [15] [16] At the time of its acquisition, Ultrasonix had at least two manufacturing plants, in Englewood, Colorado and Vancouver, British Columbia, both of which were closed following the acquisition.[17]

Copley Controls

In 2008, Analogic acquired Copley Controls, a Canton, Mass.-based supplier of gradient amplifiers for MRI Systems.[18]

Products

Analogic provides imaging systems and technology that enable computed tomography (CT), digital mammography, and magnetic resonance imaging (MRI). The company's CT, MRI, and digital mammography products are sold to original equipment manufacturers (OEMs).

Notes and References

  1. Web site: Company Profile for Analogic Corp (ALOG) . https://web.archive.org/web/20120301202617/http://www.zenobank.com/index.php?symbol=ALOG&page=quotesearch . dead . March 1, 2012 . October 21, 2008 .
  2. Web site: TSA awards $781.2 million to procure additional CT X-Ray scanners for airport checkpoints Transportation Security Administration . 2024-05-10 . www.tsa.gov.
  3. Web site: 2023-12-31 . Advances in airport security screening . 2024-05-10 . www.airportsinternational.com . en.
  4. Web site: About Us . Analogic Corporation . 2020-11-13.
  5. Web site: Bernie Gordon | Gordon Center for Systems Engineering . 2015-12-01 . https://web.archive.org/web/20151208171031/http://www.gordon-se.technion.ac.il/bernie-gordon/ . 2015-12-08 . dead .
  6. Web site: Analogic's Newly Established China Facility Receives ISO Certification and Ships First Product (Press release) . analogic.com . July 26, 2010.
  7. Web site: Private-Equity Firm Altaris to Acquire Analogic for $1.1 Billion . April 10, 2018 . . 2020-11-17.
  8. Web site: Analogic Announces Completion of Acquisition by an Affiliate of Altaris Capital Partners . June 22, 2018 . analogic.com . 2020-11-17.
  9. Web site: Analogic goes private in sale worth $1.1B . Apr 22, 2018 . . 2020-11-17.
  10. Web site: Analogic CEO Jim Green to step down after 9 years . Boston Business Journal . Oct 24, 2016.
  11. Web site: Analogic Names Fred B. Parks CEO . October 24, 2016 . 2020-11-17.
  12. Web site: Leadership Team . analogic.com . 2020-11-17.
  13. Web site: 2013 Globe 100 rankings - the Boston Globe. 18 May 2013 .
  14. News: Analogic Corp. to acquire Ultrasonix Medical for $83M. Kantor. Ira. January 8, 2013. Boston Herald. December 25, 2018. Braintree, Massachusetts. BostonHerald.com.
  15. Web site: Analogic Plans Accelerated Expansion Into Point-of-Care Market With Ultrasonix Acquisition. January 31, 2013. Imaging Technology News. December 25, 2018.
  16. Web site: Commercial Credit Report for Ultrasonix Medical Corp - Report Preview. . December 13, 2018. CreditRiskMonitor. December 25, 2018.
  17. News: Analogic announces 140 layoffs as it integrates Ultrasonix Medical. Perriello. Brad. May 14, 2013. MassDevice. December 25, 2018. WTWH Media, LLC. Brookline, Massachusetts.
  18. Web site: Analogic Corporation Signs Agreement to Acquire Copley Controls Corporation, a Leading Supplier of Gradient Amplifiers for MRI Systems . biospace.com . March 6, 2008 . 2020-11-13.