Oct 5 (Reuters) – Medical device maker GE HealthCare said on Monday it would buy privately held Sofie Biosciences for $945 million in cash, in a move that strengthens its ability to manufacture and distribute PET imaging drugs.
The acquisition will give GE HealthCare US rights to FAPI-74, an experimental PET imaging agent in late-stage testing that could be used to detect several types of cancer. GE HealthCare already owns rights to the product outside the US.
Here are more details:
• The deal bolsters GE HealthCare’s pharmaceutical diagnostics arm by adding products used with its imaging systems and increasing its exposure to the growing radiopharmaceuticals market
• It comes after Curium in August struck a deal of up to $8 billion for radiopharma peer Lantheus, underscoring rising dealmaking in the industry as firms seek to capitalize on the growing use of radioactive drugs in cancer care
• GE HealthCare’s radiopharma business includes Flyrcado, a PET imaging agent approved by the US FDA for detecting coronary artery disease, myocardial ischemia and heart attacks
• The company bought Montreal-based medical imaging software provider Intelerad in a $2.3 billion takeover in March, expanding its outpatient care reach
• It said Sofie would continue to manufacture products for existing customers, including other radiopharma companies, after the transaction closes, which is expected in the first half of 2027
• Sofie Biosciences, owned by private equity firm Trilantic, develops products including radioisotopes used in PET scans. It also operates facilities that make and distribute them for hospitals and imaging centers
(Reporting by Padmanabhan Ananthan in Bengaluru)
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