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Redlen Technologies

Acquired

Saanichton · 190 employees on LinkedIn · 5 known investors

Find your way into Redlen Technologies

93 people in our graph share verified history with the Redlen Technologies team — schools, employers, funds. One of them is your warm intro.

Chris Ericksonunlockedknows Glenn Bindley · together at Redlen Technologies (overlapped)
×5knows the team · via University of British Columbia
×5knows the team · via British Columbia Institute of Technology
knows the team · via Lakehead University

Redlen Technologies makes multi-energy radiation imaging modules built on its proprietary Cadmium Zinc Telluride (CZT) semiconductor sensors, with a focus on Photon Counting detector solutions for Computed Tomography (PCCT). It supplies detector modules to Fortune 500 customers in the medical, security, and non-destructive testing markets, and operates as a wholly owned subsidiary of Canon Inc.

Also known as Redlen · Redlen Technologies Inc.

Founders & leadership

GBGlenn Bindley
Glenn BindleyinFounder · President & CEOGlenn Bindley is an Executive Officer and Director at Redlen Technologies, which manufactures radiation imaging detectors based on Cadmium Zinc Telluride semiconductor technology for medical imaging, security, and industrial applications.
EE
Eric EriksonExecutive
JBJim Balcom
Jim BalcominChief Operating Officer2017–2024
RMRich Mather
Rich MatherinPresident & CEO
JDJay Dent
Jay DentinChief Financial Officer

Board

RT
Ralph TurfusBoard director
DE
Dr. Edmund F. Becker, Jr.Board director
CC
Colin C. HarrisBoard director

Investors · 5

Reported raises · per SEC filings

Form D private placements

$2.7M disclosed across 1 of 3 rounds · 2013–2014

$2.7MraisedFeb 2014 · 1 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Dr. Edmund F. Becker, Jr.Director
  • Glenn BindleyExecutive Officer, Director
  • Ralph TurfusDirector
  • Eric EriksonExecutive Officer
  • Jim BalcomExecutive Officer
  • Colin C. HarrisDirector
Offering amount
$2.7M
Amount sold
$2.7M
First sale
Jan 2014
Incorporated
Corporation, Canada (federal Level)
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Company profile

researched Aug 2026

Redlen Technologies is a Canadian semiconductor company that designs and manufactures multi-energy radiation imaging modules based on proprietary cadmium zinc telluride (CZT) imaging sensors. The company controls the full production chain, growing, processing and testing CZT crystals and wafers in-house and combining the resulting sensor material with electronics to produce application-specific detector modules. Its primary focus is medical photon counting computed tomography (PCCT) detector solutions; the company describes itself as the only merchant supplier of PCCT detector solutions in clinical use. Additional application areas include nuclear medicine (cardiac SPECT, breast imaging), mammography, security and baggage screening including homeland security portals, and non-destructive testing.

The technology detects individual X-ray photons and their energy, and pairs this with smaller pixel sizes; the company states this yields up to ten times more information in a CT scan at significantly reduced radiation dose. Redlen has described itself as being in transition from prototype production toward mass production, with organizational strategy, structure and systems being rebuilt around volume manufacturing of CZT sensors for photon-counting CT.

Since September 2021 Redlen has operated as a wholly owned subsidiary of Canon Inc. Under Canon ownership, the stated aim is to apply Canon's process engineering, manufacturing automation and volume production capabilities to scale CZT imaging solutions, while Canon supplies CZT detector modules to medical equipment manufacturers worldwide and supports development of PCCT systems at Canon Medical Systems Corporation.

Founding story

Redlen Technologies was founded in 1999 by metallurgist Bob Redden to pioneer a CZT crystal growth method producing higher purity and uniformity of semiconductor wafers than existing approaches, a property particularly valuable for X-ray sensors and which remains the basis of the company's technology. One secondary profile instead dates the company to 2000 and describes it as a spin-off from the University of Victoria, with production at the Saanichton site commencing in 2000.

Business model

Redlen is a component supplier: it manufactures CZT sensors and integrates them into value-added, application-specific detector modules sold to equipment makers, described as Global Fortune 500 customers in the medical, security and non-destructive testing segments. It positions itself as a merchant supplier, selling PCCT detector solutions to imaging OEMs rather than building complete scanners. Following the acquisition, Canon also distributes CZT semiconductor detector modules to medical equipment manufacturers globally.

Revenue derives from the sale of CZT semiconductor sensors and integrated radiation imaging detector modules to original equipment manufacturers of medical imaging, security screening and non-destructive testing systems.

Traction

Third-party reporting describes the Saanichton plant moving from pilot-scale output supporting 5-10 CT scanner systems per year toward capacity for detectors for 500-1,000 CT systems per year, aided by a $40 million Canon-backed plan to double the facility. The company states its PCCT detector solutions are in clinical use and that demand for the technology is high globally, while it transitions from prototype to mass production. It reported active hiring as of 2023.

Latest developments

Post-acquisition leadership includes Rich Mather as President and CEO and Jay Dent as Chief Financial Officer, with a board chaired by Toshio Takiguchi, Executive Vice President and Head of Medical Group at Canon Inc. and Chairman of Canon Medical Systems Corporation. Canon created a Redlen Business Development Division in 2022 under general manager Hideo, and senior technical hires include Hiroaki Nakai, previously a technology executive at Canon Medical Systems, as VP Technology Advancement. Capacity expansion at the Saanichton site and the scale-up of photon-counting CT detector production remain the central operational focus.

Full profile — market position, technology, go-to-market, geography, history, risks & controversies

Market position

The company describes itself as the leading provider of multi-energy CZT-based radiation imaging modules and the world's only merchant supplier of photon-counting CT detector solutions in clinical use, and as a global leader in semiconductor X-ray detector design and manufacturing. Third-party profiles similarly characterize it as a supplier of CZT detector arrays to major medical imaging OEMs worldwide.

Differentiation rests on vertical integration from proprietary CZT crystal growth through detector fabrication and test, the purity and uniformity of its wafers, and its position as a merchant (non-captive) supplier of photon-counting CT detectors, combined with fine pixel geometry that the company says delivers up to 10x more information per scan at lower dose.

Technology

The core technology is proprietary growth and fabrication of high-purity, high-uniformity cadmium zinc telluride (CZT/CdZnTe) compound semiconductor crystals, substrates and detector arrays. CZT enables room-temperature operation with high energy resolution. Redlen combines this material with sophisticated readout electronics to build multi-energy, photon-counting detector modules capable of registering individual X-ray photons and their energies at fine pixel pitch, supporting higher-resolution, lower-dose imaging. Crystal growth, wafer processing and testing are performed in-house at the Saanichton facility.

Go-to-market

Original equipment manufacturers of computed tomography and nuclear medicine imaging systems, security and baggage screening equipment vendors, and non-destructive testing equipment makers; the company cites Global Fortune 500 customers among its base.

Geography

Headquarters and manufacturing are in Saanichton, British Columbia, Canada, at 7885 West Saanich Rd, where CZT wafers are grown, processed and tested; the site is described as roughly 50,000 sq ft. The company sells to customers globally and, since 2021, sits within the Tokyo-headquartered Canon Inc. group alongside Canon Medical Systems Corporation.", "go_to_market">

History

After its late-1990s founding around CZT crystal growth, Redlen raised venture capital from investors including Pangaea Ventures, In-Q-Tel, BC Advantage Funds, GrowthWorks Capital and Yaletown Venture Partners; In-Q-Tel first backed the company with an undisclosed amount in May 2013, and a C$5.5m Series B round led by Pangaea Ventures followed in March 2014, at which point total disclosed funding was reported as C$13.3m. Company representatives have characterized the roughly two-decade period as a march toward larger-scale manufacturing. Canon Inc. reached an agreement to acquire Redlen on September 7, 2021 and completed the share transfer on September 28, 2021, making Redlen a wholly owned Canon subsidiary. Canon established a dedicated Redlen Business Development Division in 2022.

Risks & controversies

Company statements describe an organizational transition from a venture-stage startup to a mass-production company as its principal challenge, with rapid growth, shifting priorities and periods in which work and objectives are not well defined. Execution depends on scaling CZT crystal production by orders of magnitude relative to prior pilot volumes.

Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Acquisition price (Canon)Sep 2021$270M
Facility production startJan 20002,000
HeadcountAug 2026190
Manufacturing facility sizeJan 202150,000 sq ft
Production capacity targetJan 2021Detectors for 500-1,000 CT systems per year
Total disclosed fundingMar 2014$8.6M

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Timeline · 5

launches, deals, and filings
Jan 2022
Canon establishes Redlen Business Development Division

Canon set up a dedicated Redlen Business Development Division in 2022, led by general manager Hideo.

source ↗

Sep 2021
Canon Inc. completes acquisition of Redlen Technologies as a wholly owned subsidiary

Canon Inc. reached an agreement on September 7, 2021 to make Redlen Technologies a wholly owned subsidiary and completed the share transfer on September 28, 2021, gaining CZT semiconductor detector module technology for photon counting CT development at Canon Medical Systems. Third-party reports put the deal at about US$270 million (CAD$341 million); another report cited US$335 million.

$270M source ↗

Jan 2021
Canon-backed $40 million plan to double Saanichton manufacturing facility

Following the acquisition, Canon backed a $40 million plan to double the roughly 50,000 sq ft Saanichton plant, scaling output from a pilot level serving 5-10 CT scanner systems per year toward detectors for 500-1,000 CT systems per year.

$40M source ↗

Mar 2014
Redlen raises C$5.5m Series B led by Pangaea Ventures

Redlen raised C$5.5m (US$3.6m) in Series B funding led by Pangaea Ventures with reinvestment from In-Q-Tel, to expand its product line and volume production capabilities. Total disclosed funding was reported at C$13.3m (US$8.6m).

$3.6M source ↗

Mar 2014
Chris Erickson appointed to Redlen board

Pangaea Ventures general partner Chris Erickson was appointed to Redlen's board of directors alongside the Series B financing.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

In the news

Research sources · 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Redlen Technologies do?
Canon-owned Canadian maker of CZT semiconductor X-ray detector modules for photon-counting CT, security screening and NDT.
Who founded Redlen Technologies?
Redlen Technologies was founded by Glenn Bindley.
Who are Redlen Technologies's investors?
Redlen Technologies's investors include Pender Growth Fund, WUTIF Capital, Yaletown Partners, In-Q-Tel, Pangaea Ventures.
How much funding has Redlen Technologies raised?
Redlen Technologies has disclosed $2.7M raised across 1 of its 3 known rounds.
Where is Redlen Technologies headquartered?
Redlen Technologies is headquartered in Saanichton.