TECHNICARE CORP.

The TECHNICARE CORP., a leading manufacturer of medical diagnostic imaging equipment, began in July 1970 when a Massachusetts-based investment firm purchased Ohio-Nuclear, Inc., a Cleveland-area manufacturer of medical diagnostic equipment. Incorporated in Oct. 1958 by Donald W. Steel, it was known in its early years as Nuclear-Ohio, Inc. Located at 27105 Knickerbocker Rd., BAY VILLAGE, the company manufactured equipment and instruments for the nuclear industry, and by 1962 was constructing gamma irradiators for medical, biological, and engineering uses. By 1964 the company had become Ohio-Nuclear, Inc. and moved to 1725 Fall St. The firm employed 55 people and had sales of $3 million in 1970 when it was acquired by the Boston Capital Corp., an investment company headed by former Clevelander Joseph W. Powell. In 1971 Boston Capital changed its name to BBC Industries, moved its headquarters to Cleveland, and ceased its investment activities in order to manufacture products for the health-care industry. In 1973 BBC became Technicare, with net sales of $35.6 million and a net income of $3.5 million. In 1976 Technicare moved its headquarters from Investment Plaza, 1801 E. 9th St., to 29100 Aurora Rd., SOLON. When net sales failed to produce a proportionate rise in income in 1978, Technicare merged with Johnson & Johnson, a major manufacturer of health-care products, the following year. As a subsidiary, Technicare developed nuclear magnetic resonance equipment, and by 1981 employed 2,900 worldwide—1,600 in Greater Cleveland. The growing complexity of imaging equipment made it more costly to produce, and in 1986 Johnson & Johnson sold Technicare to General Electric, retaining the Solon plant to phase out operations.