JADAK in the news
A Brief Introduction to the Basics of RFID
Fast growing tech company in Cicero expands
By Rick Moriarty | firstname.lastname@example.org
on July 29, 2014 at 10:09 AM, updated July 29, 2014 at 11:19 AM
Jadak Technologies Inc. has moved its sales, engineering and administrative support staff into a 40,000-square-foot addition to its headquarters at 7279 William Berry Blvd. in Hancock Airpark, the former Hancock Air Force Base turned into an office park.
Jadak President David Miller said the original, 15,000-square-foot section of its headquarters is now dedicated to its manufacturing operations. The company moved to Hancock Airpark seven years ago from Greenfield Parkway in Salina.
Jadak was founded in 2000 by Miller and four other engineers — Jeff Pine, Kim Little, Peter Mott and Rob Valleau. (The company’s name is derived from the first letter of the first names of Pine, Miller and Little.) All but Valleau are still affiliated with the company.
The company employs 140 people — all but 10 of them in Cicero. The others are sales representatives scattered throughout the U.S. and in the Netherlands.
The company has been growing at a fast clip since its founding 14 years ago. It’s been creating an average of 10 jobs a year, mostly in engineering and sales. Miller said he expects that growth rate to continues now that the company has the room to accommodate it.
Jadak makes barcode scanners primarily for medical equipment makers. Some of its scanners read patient ID bracelets, medication labels and employee identifications to ensure that healthcare providers are giving the correct medications to the correct patients. Some of its products trace blood samples as they make their way through automated testing equipment in laboratories.
“It’s really about making the healthcare system error-free,” said Miller, who grew up in Liverpool and formerly worked at Sensis Corp. and Welch Allyn Inc. “The products we make help make the healthcare system safer.”
About 10 pecent of Jadak’s sales are to other types of equipment makers. For example, its barcode readers are installed in ATMs in Europe. However, most of the company’s growth has been the result of sales to medical equipment makers.
“We went into the healthcare industry very early on, and we had a business model that can support that industry,” said Miller.
It’s those sales to the medical equipment industry that drew the attention of GSI Group, of Bedford, Mass., earlier this year. The maker of precision photonics and motion control components has been looking to increase its sales to the medical equipment industry. In March, it acquired Jadak for $93.5 million.
GSI said it plans to keep Jadak where it is and operate it as a subsidiary.
GSI said it expects Jadak to have revenues of $50 million this year and earnings of $10 million before interest, taxes, depreciation and amortization. Jadak’s sales have doubled in the last five years, according to GSI.
Jadak’s focus on the healthcare industry has proven to be a good strategy for the company, but Miller said it is looking at expansion opportunities outside of healthcare, too.
“We’re always looking for growth opportunities, whether it’s new products or new markets,” he said.
Jadak’s enlarged headquarters features exposed steel beams with lots of glass-wall conference space. The addition also has a fully equipped fitness room for employees.
“We want to grow this company here,” said Miller. “We need to attract top talent, and this is a great place to work.”