Lantheus completes sale of SPECT business

Radiopharmaceutical leader Lantheus Holdings has officially completed the sale of its single photon emission computed tomography (SPECT) business.  

The company announced the close of the transaction with Shine Technologies—a Janesville, Wisconsin-based fusion firm—on Friday. Lantheus has signaled that the decision to sell its SPECT business will allow the company to focus more on growing its portfolio of PET radiodiagnostics and microbubbles. 

The agreement stipulates that Shine is to acquire Lantheus’ diagnostic SPECT agents, including TechneLite, Neurolite, Xenon Xe-133 Gas and Cardiolite. Shine also will obtain the portion of Lantheus’ North Billerica, Massachusetts campus that manufactures their products, and will take over its SPECT-related Canadian operations as well. 

“While the SPECT business has been a foundational part of Lantheus’ nearly 70-year history, we believe it is the right time for this business and its outstanding employees to continue driving success with Shine, a company well-positioned to ensure its long-term growth and positive patient impact,” CEO Brian Markison said in a statement on the pending deal on May 6. 

Greg Piefer, founder and CEO of SHINE, also commented on the transaction in May, stating that the arrangement marked “a major milestone on our journey to improve lives through fusion technology.” 

“By integrating Lantheus' SPECT business and talented team with our company, we will expand our product portfolio, accelerate our path to market for our planned suite of isotopes and increase our market share – ultimately ensuring greater access to these life-saving products for patients,” Piefer noted at the time. 

Financial partners who helped get the transaction to the finish line included Solomon Partners Securities, LLC, who acted as advisors on behalf of Lantheus; Ernst & Young LLP, who provided tax consulting services; and Foley Hoag LLP and Ropes & Gray LLP, each of whom acted as legal advisors during the process.