When entrepreneurs dream of making it big, those dreams would probably try to copy Xoran Technologies' business trajectory.

The Ann Arbor-based company got its start with a National Institute of Health grant to build a better mouse trap, errrr… CAT scan. U-M graduates Neal Clinthorne and Pedja Sukovic started with only each other in 2001.

Today their company employs 61 people, making it Michigan sixth largest bio-tech firm and the fifth fastest for growth. It's nearly doubled its employee base since the end of 2005.

Xoran Technologies has taken home the "Michigan Innovator's Award" twice and is listed as one of the "50 Companies to Watch in Michigan" by the state's Small Business & Technology Development Center. Sukovic, the company's president and CEO, was named one of Crain’s Detroit Business 40 under 40.

And it's done all of this without the help of venture capital or angel investors. It's principals own it and all of its profits.

Xoran Technologies’ now makes a variety of CAT scans, such as MiniCAT and xCAT. They all help bring high-quality images of patients to doctors while doing so with low doses of radiation.

Source: Susie Vestevich, manager of public relations and corporate communication for Xoran Technologies
Writer: Jon Zemke