In 2007, Dr. Charles Casper and John Frost founded ATH Technologies, Inc. to develop, manufacture, and sell a new medical imaging product: Business Management Assignment, MU, Ireland

In 2007, Dr. Charles Casper and John Frost founded ATH Technologies, Inc. to develop, manufacture, and sell a new medical imaging product. Dr. Casper (47), a radiologist, had trained at Johns Hopkins medical school and, after a research fellowship at Harvard Medical School, joined a private practice in Florida.

Casper specialized in the use of imaging systems for medical practice. Over time, he had experimented with different procedures, such as ultrasounds and x-ray, until he became interested in a new technology based on sending electronic impulses through electrodes attached to the skin and observing how these impulses changed as they went through the body.

Together with John Frost —an engineer who specialized in digital imaging for medical applications—Casper perfected the technology, reducing its cost and improving its resolution.

Both founders anticipated a significant market potential for their product. Relatively low cost combined with improved image quality made it a very attractive alternative for applications where other imaging systems were prohibitively expensive to use.

With these expectations, they convinced a group of doctors to invest in the venture. The company started with $4.7 million in paid-in capital.

In 2008, ATI-I Technologies received regulatory approval to market its first product—an imaging system to work in conjunction with minimally invasive surgical procedures.

Building on this initial success and after a detailed sales and profit projection over a five-year period, a deal was struck with Alumni Capital Partners, a venture capital firm, which agreed to invest $113 million to support the launch of the new product.

The business plan anticipated the introduction of new products with increased image resolution and a broader range of applications to pull the company into profitability by the end of 2011. During this period, all the cash of the business would be invested in product development, production tooling, and marketing.