Tornado Medical and Arjae Spectral Join to Create Tornado Spectral Systems
Online, July 18, 2012 (Newswire.com) - Toronto, Ontario and Ithaca, NY - Tornado Medical Systems (TMS) and Arjae Spectral Enterprises (ASE) today announced the intention to combine the optical spectroscopy businesses of both companies to create Tornado Spectral Systems. United by a common business culture and complementary intellectual property, this represents a pooling of the expertise of two technology firms to accelerate the development and production of superior next generation spectrometers and enhance existing and future business collaborations. By combining resources, Tornado Medical Systems and Arjae Spectral Enterprises will continue to lead the industry with innovative optical spectroscopy products for the Defense & Security, Environmental, Biomedical, and Industrial markets. The two organizations signed an agreement today which allows a 45 day exclusivity period in which both firms will complete due diligence and negotiate a final agreement, which will be subject to approval by the shareholders of TMS and ASE.
"This new partnership will allow us to accelerate our product development plans," said Dr. Bradley Schmidt, CEO of Arjae Spectral, a sentiment echoed by Dr. Stefan Larson, CEO of Tornado Medical, "Combining the IP and technical expertise of both companies will create a force to be reckoned with not only in optical spectroscopy, but also the burgeoning field of nanophotonics."
Founded in 2010, Tornado Medical Systems has been developing innovative spectroscopic instruments that utilize proprietary optical and nanophotonics technologies. Conventional optical dispersive spectroscopy is limited by a trade-off between light throughput and spectral resolution, and Tornado Medical's proprietary High Throughput Virtual Slit (HTVS) innovation overcomes this trade-off to deliver high resolution and high throughput simultaneously. Tornado is also developing ground-breaking OCT (optical coherence tomography) on chip technology. Established in 2008, Arjae Spectral's spectrometer platforms (SHEER & Sensei) and hyperspectral imagers have been optimized for enhanced performance by incorporating the HTVS. To date both companies have collaborated on several joint development projects that will be the basis for future products.
The proposed new firm, Tornado Spectral Systems, will be headquartered at 555 Richmond Street West, Suite 705, P.O. Box 218, Toronto, ON, M5V 3B1 1-416-361-3444 and has a United States wholly owned subsidiary located at 2359 North Triphammer Road, Ithaca, NY, 14850 1-607-379-6185. For further information check us out at www.tornado-medical.com and www.arjae-spectral.com
