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September, 2007
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September, 2007
Spectrum Aeromed Under New Ownership
WHEATON, Minn. (September 24, 2007) Dean Atchison, Moorhead, Minn., announced today he has acquired Spectrum Aeromed, a worldwide manufacturing leader of air ambulance equipment for fixed and rotor wing aircraft located in Wheaton. Atchison, a former bank president and a twenty-year veteran of the finance industry, will serve as president and CEO. Mr. Atchison’s brother, Dr. Scott R. Atchison, a board-certified anesthesiologist with 27 years of experience including 13 at the Mayo Clinic, has been named Medical Director.
“I had been searching for an entrepreneurial opportunity and Spectrum Aeromed had everything I was looking for,” said Dean Atchison. “Spectrum Aeromed has talented people making a quality product. Our size allows us to be flexible and be client focused. I am excited about the possibilities and it is our goal to design and manufacture the best life support equipment and custom medical interiors available anywhere in the world.”
Founded in 1991, Spectrum Aeromed quickly built a reputation for its unmatched equipment quality, flexibility and durability. It carries a full line of dedicated and modular (quick change) air-ambulance products with more than 70 STCs approved in the United States, Europe, Canada, Argentina, Brazil as well as other countries covering over 150 makes/models of aircraft. Its patented Seat Rail Adapter, which allows any aircraft to be converted from standard configuration to air ambulance configuration in less than 30 minutes, helped make it a recognizable name in the industry. Located in Wheaton, Minnesota, Spectrum Aeromed’s staff of 16 designs, tests and manufactures its products from its 12,000 square-foot facility.
Atchison’s interest was based on the company’s proven product, excellent team, potential for growth and industry forecasts. “The founders of Spectrum Aeromed established an excellent product line based on customer input and a focus on quality,” continued Atchison. “But it’s a new day at Spectrum Aeromed. By combining the existing engineering and manufacturing staff with a fresh and insatiable energy, we can carve a niche in this industry. We are a mid-size company which allows us to customize our solutions based on what the client needs. Not every manufacturer is able to do that.” Atchison reviewed Spectrum Aeromed’s financial foundation, discovering an attractive opportunity. “The increased influx of capital will allow Spectrum to reach more people and provide more innovations to this ever-growing market. The aerospace industry is made up of a fun group of innovative, maybe even ‘maverick’ personalities. It is a high energy, visionary industry and we look forward to becoming an even more vibrant part of the corps.”
ABOUT SPECTRUM AEROMED Founded in 1991, Spectrum Aeromed is the worldwide manufacturing leader of air ambulance equipment for fixed and rotor wing aircraft. Its modular, dedicated and custom built air ambulance equipment is used by all segments of the aviation industry including charter services, EMS and SAR operations, large and small hospitals, corporations and global military and government entities. It has more than 70 STCs approved in the United States, Europe, Canada, Argentina, Brazil as well as other countries covering over 150 makes/models of aircraft and is able to customize its products to fit most air, ground or marine support applications. Headquartered in Wheaton, Minnesota, Spectrum Aeromed has a staff of 16 and a 12,000 square foot state-of-the-art manufacturing facility. In July 2007, Spectrum Aeromed was purchased by Dean Atchison.
About Dean Atchison, President and CEO Dean Atchison has more than 20 years of banking and finance experience in the upper Midwest. He has experience in a wide cross-section of the industry including serving as senior vice president, president and CEO. He has managed a $455 million portfolio of commercial and agricultural lending activities, twelve bank branches and 165 full-time staff.
About Scott Atchison. Medical Director 1980 Graduate of the Mayo Medical School; Board Certified Anesthesiologist with 27 years in practice including trauma at Sanford Health in Sioux Falls, South Dakota and 13 years with the Mayo Clinic in Rochester, Minnesota.