The executive director of the Saanich Peninsula Chamber of Commerce says the recent sale of Central Saanich’s Redlen Technologies to Canon marks another chapter in the ongoing success stories for Peninsula-based tech companies.
Al Smith said in a statement to Black Press Media that the tech industry on the Saanich Peninsula has been a strong player on the world stage for years.
“(This) is yet another example of the kind of amazing and valuable companies that grow and thrive here,” he said. “While this sale means that the investors in Redlen will profit and hopefully spend that money here on the Peninsula with new startups and new ventures, we sincerely hope that Canon will keep Redlen technologies based here as well.”
Regardless of Canon’s decisions, the chamber is proud that Redlen has once again proven the Saanich Peninsula produces world-class companies.
Canon, previously a 15-per-cent stakeholder in Redlen, purchased the remaining 85 per cent of the 200-plus employee company for $341 million.
Redlen Technologies possesses technology for the development and production of cadmium zinc telluride (CZT) semiconductor detector modules used in diagnostic imaging systems, security systems and other devices, according to background information from Pangaea Ventures.
This technology promises clearer images of specific substances in the body, while easing the burden on patients by significantly reducing exposure dose and improving diagnostic accuracy with higher-resolution imaging.
Do you have a story tip? Email: firstname.lastname@example.org.