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Total Energy Services Snapshot
Biomerge Industries, formerly Xillix Technologies, moved way beyond X-rays with its medical imaging technology, but now it's a hollow shell awaiting a new occupant. In 2007 the company (which had been operating under bankruptcy protection since October 2006) sold its medical imaging assets, including intellectual property related to its cancer-detecting fluorescence endoscopy technology, to Novadaq. Private investment firm Cavalon Capital Partners invested $4.4 million giving it control of the firm. Subsequently, biotech firm Nexia Biotechnologies bought Cavalon, giving it an 80% equity stake in the Biomerge shell. Total Energy Services acquired Biomerge Industries in mid-2009.
