GE HealthCare in talks to buy radiopharma firm Sofie Biosciences for $1B
GE HealthCare is in talks to buy radiopharmaceutical firm Sofie Biosciences for $1 billion, according to a report published Sunday.
The Financial Times made the claim on Sept. 13, indicating a deal could be announced “as soon as next week provided there are no last-minute snags.” Unidentified sources with knowledge of the matter told FT’s Oliver Barnes about the reported dealmaking, with GEHC and Sofie both declining to comment on the record.
This would be the imaging manufacturer’s second blockbuster, billion-dollar acquisition since completing its spin-off from the larger General Electric in 2023. GE HealthCare in March finalized its agreement to buy software provider Intelerad for $2.3 billion in a bid to boost its own cloud enterprise imaging offerings.
Founded in 2008 and based in Dulles, Virginia, Sofie Biosciences operates a robust radiopharmaceutical production and distribution network. It also has an established contract-manufacturing service, along with “high value” theranostic intellectual properties. Its portfolio includes a currently in-the-works novel diagnostic agent targeted toward pancreatic cancer, with the first patient dosed in February.
Private equity firm Trilantic North America previously invested in Sofie in 2024. At the time, it estimated the company had 15 locations across the U.S., manufacturing over 567,000 doses on behalf of partners and customers. Trilantic, the former merchant banking division of the collapsed Lehman Brothers, reportedly acquired a nearly 26% stake in Sofie, valuing the business at up to $550 million then, according to the report.
The Financial Times noted that an acquisition of Sofie would help further strengthen GE HealthCare’s pharmaceutical diagnostics division, which notched $2.9 billion in revenue last year. Read more:
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.