Mirion Technologies, Inc. Acquires Dosimetry Services Distributor Based in Clinton, Tennessee

Rhea-AI Summary

Mirion Technologies, Inc. (NYSE:MIR) has acquired CHP Dosimetry, a U.S.-based dosimetry services distributor, effective November 1, 2021. CHP Dosimetry, founded in 2004 and located in Clinton, TN, generated $1.2 million in revenue in 2020. This acquisition allows Mirion to serve existing CHP customers directly and leverage CHP's distribution channels for its dosimetry solutions, including the Instadose® platform, improving service efficiency and customer reach.

Positive

• Acquisition enhances Mirion's distribution channels and customer access.
• Expected synergies from integrating CHP's dosimetry services with Mirion's offerings.

Negative

• Integration challenges could arise from merging CHP's operations with Mirion.
• Potential risks related to reliance on CHP's existing customer base.

ATLANTA--(BUSINESS WIRE)-- Mirion Technologies, Inc. (“Mirion”), a global provider of detection, measurement, analysis and monitoring solutions to the medical, nuclear, defense, and research end markets, today announced the acquisition of CHP Dosimetry, a U.S.-based distributor of dosimetry services. The acquisition closed on November 1, 2021.

Headquartered in Clinton, TN, CHP Dosimetry provides dosimetry services for medical practices, veterinary offices, universities, and government agencies, as well as industrial and environmental companies. CHP Dosimetry was founded in 2004 and is a veteran-owned small business (VOSB). The company recorded $1.2 million in revenue for the year ended December 31, 2020.

CHP Dosimetry is a current customer of Mirion, with CHP Dosimetry offering customers access to several Mirion-branded solutions including its flagship innovation, the Instadose®* dosimetry monitoring platform. Instadose dosimetry is a SMARTER personal dosimeter technology that eliminates the need to collect and return badges every wear period. Providing on-demand and automatic dose reads and insights, Instadose dosimeters enable instant access to current and historical exposure data and cumulative dose insights, along with the ability to make account, location, device, and wearer changes online within minutes.

“As the sole supplier of dosimetry offerings for CHP Dosimetry, acquiring the company’s distribution channels marks a natural progression for our business,” says Lou Biacchi, President of Mirion Dosimetry Services. “We are excited to directly serve CHP Dosimetry’s existing customers who we expect will continue to utilize Mirion’s robust dosimetry products.”

Mirion provides personal radiation monitoring services and dosimetry solutions for a wide range of applications. Personal dosimeters are typically worn by individuals (clipped to their collar, torso, waist, wrist or worn as a ring on their finger) who work with or around sources of ionizing radiation and are used to measure, record, and track the radiation dose they are exposed to while performing their job.

*Instadose® dosimeters may not be accredited in all countries. Please call 800-251-3331 for more information about international availability.

Resources

• For more information on ionizing radiation, visit: https://www.mirion.com/learning-center/radiation-safety-basics/types-of-ionizing-radiation
• The International Atomic Energy Agency (IAEA) Safety Standards, Occupational Radiation Protection, General Safety Guide (GSG-7) can be viewed here: https://www-pub.iaea.org/MTCD/Publications/PDF/PUB1785_web.pdf
• To learn more about how Instadose wireless dosimetry is revolutionizing personal radiation monitoring, view this video: https://www.youtube.com/watch?v=Mqyku6oFh3k

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate”, “expect”, “hope”, “intend”, “may”, “might”, “should”, “would”, “will”, “understand” and similar words are intended to identify forward looking statements. These forward-looking statements include but are not limited to, statements regarding the benefits of CHP Dosimetry’s technology to Mirion and its customers, and Mirion’s dosimetry operations. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including the risk that problems may arise in integrating CHP Dosimetry’s business and technology.

Additional risks and uncertainties that could affect the forward-looking statements in this press release are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” set forth from time to time in filings and reports we make from time to time with the Securities and Exchange Commission, including our registration statement on Form S-1 filed on October 27, 2021.

You should not rely on these forward-looking statements, as actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

About Mirion

Mirion Technologies is a leading provider of detection, measurement, analysis and monitoring solutions to the nuclear, defense, medical and research end markets. The organization aims to harness its unrivaled knowledge of ionizing radiation for the greater good of humanity. Headquartered in Atlanta (GA – USA), Mirion employs around 2,500 people and operates in 13 countries. For more information, and for the latest news and content from Mirion, visit Mirion.com.

About CHP Dosimetry

Founded in 2004, CHP Dosimetry is a veteran-owned distributor of dosimetry services based in Clinton, TN. CHP Dosimetry supplies whole-body dosimeters, extremity rings, and area monitors to tens of thousands of clients nationwide. Clients include medical practices, veterinary offices, universities, government agencies, and industrial and environmental companies. For more information, visit chpdosimetry.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211102005926/en/

For investor inquiries:

Brian Schopfer

ir@mirion.com

For media inquiries:

Matthew Maddox

mmaddox@mirion.com

Source: Mirion Technologies, Inc.

FAQ

What is the significance of Mirion's acquisition of CHP Dosimetry?

The acquisition enhances Mirion's distribution channels, allowing direct service to CHP's customer base and potential revenue growth.

When did Mirion acquire CHP Dosimetry?

Mirion completed the acquisition of CHP Dosimetry on November 1, 2021.

How much revenue did CHP Dosimetry generate before the acquisition?

CHP Dosimetry recorded $1.2 million in revenue for the year ended December 31, 2020.

What products does CHP Dosimetry provide?

CHP Dosimetry offers dosimetry services for various sectors, including medical practices, universities, and government agencies.

What technology will Mirion and CHP Dosimetry integrate?

Mirion plans to integrate CHP's distribution with its dosimetry solutions, especially the Instadose® monitoring platform.