US-based GE HealthCare has agreed to acquire the remaining 50% stake in Japan’s Nihon Medi-Physics (NMP) from Sumitomo Chemical, to become the sole owner of NMP.
Established in 1973 in Tokyo, NMP is a radiopharmaceutical company in Japan that generated JPY28.2bn ($183m) in revenues last year.
With the acquisition, NMP will become a wholly owned subsidiary of GE HealthCare, and enhance its advanced radiopharmaceuticals for the detection and diagnosis of disease.
As part of GE HealthCare, NMP will strengthen its expertise in developing and manufacturing unique and in-licensed radiopharmaceuticals.
Its radiopharmaceuticals are used in single photon emission computed tomography (SPECT) and positron emission tomography (PET) procedures.
The acquisition is anticipated to be completed in early 2025, subject to regulatory approvals.
GE HealthCare pharmaceutical diagnostics (PDx) segment president and CEO Kevin O’Neill said: “As the third largest pharmaceutical market in the world, and amongst the leading countries by a number of cyclotrons, Japan is on a path to becoming a leader in the $7bn molecular imaging global market and a centre of excellence for Asian markets.
“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 Japanese market and beyond.
“This will strengthen our precision care strategy in Asia and our existing footprint in Japan, where our contrast media and medical devices are used every day to enable imaging procedures across the country.”
NMP offers a range of products, including GE HealthCare radiopharmaceuticals used for clinical images across neurology, cardiology, and oncology procedures.
The products include VIZAMYL injection amyloid visualisation radiotracer, DaTSCAN Injection for suspected Parkinson’s Disease or Dementia and MYOVIEW for use in SPECT myocardial perfusion imaging.
Building on its 13 manufacturing facilities, NMP focuses on research and development, including nonclinical and clinical development of radiotracers and theranostics research.
GE HealthCare has been owning a 50% stake in NMP since the acquisition of Amersham in 2004 and holds three positions on its Board of Directors.
Solomon Partners Securities served as an advisor to GE HealthCare, on the transaction.
Sumitomo Chemical executive vice president Hiroshi Ueda said: “We are proud of our 50-year relationship with NMP and our partnership with GE HealthCare to ensure patients in Japan could benefit from access to molecular imaging.
“At a time of exciting developments in the industry, following its discussions with Sumitomo Chemical, we believe GE HealthCare is the best owner to enable NMP to continue its successful growth journey.
“I would like to recognise NMP’s leadership and talented team for their significant achievements to date and their commitment to patients.”
