International Isotopes announced this week that it has assumed management of a New Hampshire company that manufactures quality control products for the nuclear medicine and imaging industries.
The Idaho Falls-based company already owned 25 percent of RadQual LLC, and International Isotopes CEO Steve Laflin, the firm’s current and former board chairmen, and an unidentified major shareholder have now purchased the remaining 75 percent of the member units. The purchase price was not disclosed.
“Following this purchase, INIS has been voted by the new members to become the primary managing member of RadQual, and will be responsible for oversight of all business activities and management of RadQual,” according to an Aug. 21 International Isotopes press release. The new owner said it would evaluate expanding the company’s product line and distribution of PET and SPECT imaging products.
“Evaluating and adding new products will be a gradual and continuous process based upon perceived market opportunity,” Laflin told Weapons Complex Morning Briefing by email on Wednesday.
Prior RadQual majority owners Keith Allberg, director of manufacturing and regulatory affairs, and Peter Ouimette, who managed sales and product distribution, sold their units after deciding to retire, Laflin said.
“We have greatly enjoyed our sixteen years of owning and managing RadQual and we’re very proud of the great reputation the RadQual products have achieved in that time,” the two said in a prepared statement. “INIS has been the sole manufacturing facility for all RadQual products since the beginning and their contract manufacturing performance has been a key reason for our product success. RadQual has always taken pride in providing the best customer service in the industry and we are certain that INIS will continue that proud tradition after this management change is complete.”
