Year Invested

2017

Country (HQ)

Sweden (EU)

Stage

Exit (Acquired)

Increasing x-ray imaging efficiency with photon-counting technology in industrial and medical markets

Company Description

Direct Conversion is a leading innovator of direct conversion technology for digital X-Ray imaging, delivering detectors based on Charge Integrating and Photon Counting Technology to major global X-ray and CT-equipment OEMs serving customers from the medical and industrial markets. The Company is headquartered in Stockholm, Sweden, with a total of 64 employees in Sweden, Finland, UK and Germany.

X-ray detectors (mostly embedded in OEM system equipment) are an integrated and critical part within the “x-ray imaging chain”, determining image quality and inspection speed. X-ray and CT-inspection system solutions assist customers from the global automotive, consumer electronics, EMS, industrial electronics, casting, medical and aerospace/defense industry to achieve and sustain the highest quality standards for critical parts and advanced components/materials manufactured within large-scale series production. Medical applications for DC detectors include dental and orthopedics as well as whole body scans.

Direct Conversion controls the whole detector product value chain and IP, including ASIC design, wafer processing, bump bonding, sensor, and final detector assembly (including firmware) – offering cutting-edge detectors for digital X-Ray imaging to leading OEMs on a global scale.

In April 2019, Direct Conversion was sold to publicly listed Varex Imaging (VREX), the world’s largest independent supplier of X-ray tubes and image processing solutions.

X2 Backing

An affiliate of X2|E partnered with DirectConversion in 2017, provided growth financing and actively supported during roll-out of Direct Conversion’s detector technology and customized solutions into industrial x-ray applications such as Electronics, Battery, FATP and NDT inspection via a newly established application center including a dedicated team based in Munich (Germany). Further active support was provided during the exit process (sale to Varex).

Segment

HardTech

Advanced sensor technologies & solutions

Industries

Advanced Manufacturing
Final Product Assembly
Battery Production
Critical Infrastructure
Energy & Utilities
Medical
Medtech Innovations