GE HealthCare acquires full stake in radiopharma firm that generated $183M last year
GE HealthCare has acquired full ownership of a leading radiopharmaceutical firm that generated $183 million in revenue last year, the two announced Dec. 1.
The Chicago-based manufacturer has agreed to acquire the remaining 50% stake in Nihon Medi-Physics Co. (NMP), a Japanese developer of imaging agents used in SPECT and PET procedures.
NMP’s product portfolio includes GE HealthCare radiopharmaceuticals delivered across neurology, cardiology and oncology. Among them are Vizamyl, used in Alzheimer’s treatment; DaTscan, for evaluating patients with suspected Parkinson’s or dementia; and Myoview, for assessing possible coronary artery disease.
“As the third largest pharmaceutical market in the world, and amongst the leading countries by number of cyclotrons, Japan is on a path to becoming a leader in the $7 billion molecular imaging global market and a center of excellence for Asian markets,” Kevin O’Neill, president and CEO of GE HealthCare’s pharmaceutical diagnostics segment, said in an announcement shared late Sunday. “NMP will play a key role in that journey, including bringing its deep expertise and scale to global innovators looking to bring novel products to the Japan market and beyond.”
Formed in 1973 and based in Tokyo, Nihon Medi-Physics operates 13 manufacturing facilities and conducts drug research and development. GE HealthCare has held a 50% stake in NMP since acquiring Amersham plc in 2004 and holds three positions on the company’s board of directors.
The two companies hope to close the transaction in early 2025, subject to regulatory approval. GE HealthCare expects the transaction to be neutral to adjusted earnings in the first year and accretive thereafter.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.