From a laboratory cyclotron to a company with global reach

At the University of Louvain-la-Neuve, in Belgium, Yves Jongen made a discovery that enabled the creation of small particle accelerators. In 1986, with the support of institutional investors, he set up a company to use these accelerators for medical and industrial applications. IBA grew, but in the late 1990s, Canadians launched a hostile takeover bid to acquire it. The employees rallied to retain control, taking on debt in the form of an LBO. In order to limit this debt, IBA then went public, retaining 30% of the capital to maintain control of its strategy. The IBA Group now has 2,500 employees, including 1,200 in Belgium, and has expanded worldwide, with a strong presence in the United States and China. The founders are seeking to transfer decision-making power to entrepreneurs who will emerge within the Group so that it can continue its remarkable adventure while remaining in control of its own destiny.