IBA: the short, biased story of a university spin-off in the field of particle accelerators

by Yves Jongen (President, Ion Beam Applications S.A., Louvain-la-Neuve, Belgium)

Monday 13 Dec 1999, 11:00 → 14:00 Europe/Zurich

40-S2-B01 (CERN)

In 1985, the author, then director of the cyclotron research centre at the University of Louvain, developed with colleagues an innovative cyclotron design for the production of medical radio-isotopes. While looking for money to build a prototype, the idea of forming an industrial company resistance within the laboratory. In 1986, Ion Beam Applications was incorporated, with a capital of 0.6 Million Euro, 5 employees and the hope to reach at equilibrium a size of 15 people. The growth of the new company was tumultuous, with some great successes and a few near disasters. The range of accelerators offered was enlarged to make IBA less dependant of the variations of a single small market. From the radioisotopes cyclotrons market, IBA entered into the market of proton therapy, then in the industrial application of electron beams with the Rhodotron. Twice over the years the company had to restructure to face heavy losses. In 1997, in response to an attempt of hostile take-over, the employees formed a co-operative holding company, and took a majority in the company capital. The company got large orders in proton therapy and became quite profitable. Last year, IBA entered on the Brussels stock exchange and, thanks to the money raised this way, started to grow rapidly by acquisitions. Today, IBA is a 1100 employee multi-national group, with 44 factories over the world. It has absorbed other accelerator companies such as Scanditronix or Radiation Dynamics Inc.(Dynamitrons). The annual turnover is 150 million Euro, and the market capitalisation 1.2 billion Euro. But it remains to be seen if the new larger company will keep the warm relations, the enthusiasm and the entrepreneurial spirit it had during the early years.