Perma-Fix Environmental Services announced yesterday the leadership team for its medical isotopes subsidiary, including a new CEO and executive vice president. Perma-Fix Medical S.A. appointed Steve Belcher as CEO and John Climaco as executive vice president. Perma-Fix had been looking for a more medical isotope focused leadership team to lead its subsidiary. “We are extremely pleased to announce the appointments of such experienced and proven industry executives to the senior management team and Board of Directors of Perma-Fix Medical S.A,” Perma-Fix CEO Lou Centofanti said in a statement. “These appointments come at a key inflection point in the development of our medical technology. Given our progress, it was important to bring in additional resources to the senior management team with the necessary industry knowledge that will allow us to maximize our potential.”
Perma-Fix is one of several companies vying for market position in the Technetium-99m market, a medical isotope used in millions of procedures annually. With Canada set to stop government spending in 2016 on the National Research Universal (NRU) reactor, one of the world’s largest suppliers of molybdenum-99 and technetium-99m, the medical isotope industry is expecting a shortage in the market in the coming years. NRU’s anticipated shutdown has led to a slew of startups looking to fill the lucrative medical isotope void—eight-to-nine companies have already sent the Nuclear Regulatory Commission letters of intent to submit construction authorization licenses for a potential Mo-99 production facility.
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