Axsun Technologies said it has been successfully divested from Volcano Corporation, a subsidiary of Royal Philips, and acquired by Anzu Partners, an investment firm based in Washington DC.
As part of the transaction, Axsun received a significant infusion of growth capital and an affiliate of Anzu Partners purchased the 65,000 square foot building in Billerica, MA that houses Axsun´s operations.
Axsun´s experienced management team will remain in place. Jonathan Hartmann, currently VP/GM will lead the newly independent Axsun as CEO. Peter Whitney will continue as Chief Science Officer and VP of Engineering, leading technology and product development. Chris Baldwin will continue to serve as Chief Financial Officer, and Bill Ahern will continue to lead sales and business development. Hartmann and Dr. Whitney have joined the Axsun board of directors.
Axsun Technologies, established in 1998, develops and manufactures industry-leading optical coherence tomography (OCT) and near-infrared (NIR) MEMS-based optical engines for medical imaging, industrial analyzers, and telecommunications.
Anzu Partners is an investment firm based in Washington DC. It teams with entrepreneurs and strategic players to transform industries with investment and insight. The firm invests broadly across industrial and consumer segments, including photonics technology companies.