Just under a year ago, Pyrexar purchased the hyperthermia device group from Perseon Medical (formerly BSD Medical). As part of the original purchase agreement, Perseon acquired 19.9% of our company, along with royalties on future sales of the BSD-2000, our flagship product. Fees alone were estimated at $4 million over the next three years.
Today, we purchased that ownership back!
Pyrexar is whole again and continuing to grow and move forward. Every single department in the company has made incredible strides in efficiency, productivity, and expansion. The details may not be an exciting read, but they go along way to make Pyrexar a very successful business case study.
Here are some highlights!
New Distribution - Added nine new international distribution companies to our channel with several more in negotiation bringing our sales coverage to 31 countries
Revamped Manufacturing Workflow - We increased the speed of our manufacturing process by 600%.
Regulatory Process - Added TFDA (Taiwan FDA), KFDA (Korean FDA), TUV Rheinland, and RoHs compliance to our process.
Engineering Updates - Manufacturing processes are being re-engineered to be more efficient and cost-effective. Plus, we are well into a product road-map of new and exciting thermal therapy products
These improvements, along with a laundry list of incremental achievements, make the company more organized, cost-efficient, proactive, and flexible.
Thank you for helping us continue the work that brings life-saving hyperthermia to cancer patients around the world.