GE HealthCare Technologies Inc. has completed its acquisition of the remaining 50% stake in Nihon Medi-Physics Co., Ltd (NMP), from Sumitomo Chemical, giving it full ownership. As part of GE HealthCare, NMP can further build on its expertise in developing and manufacturing proprietary and in-licensed radiopharmaceuticals used in single photon emission computed tomography (SPECT) and positron emission tomography (PET) molecular imaging procedures to detect and diagnose disease.
Kevin O’Neill, President & CEO of GE HealthCare’s Pharmaceutical Diagnostics (PDx) segment, who will also become President of NMP, said: “We are delighted to welcome Nihon Medi-Physics to GE HealthCare, increasing our existing footprint and offering in Japan, where our contrast media and medical devices are used every day to enable imaging procedures across the country.
Japan is on a path to becoming a leader in the USD 7 billion molecular imaging global market and a center of excellence for Asian markets. As part of GE HealthCare, NMP will play a key role in that journey, including bringing its deep expertise and scale to global innovators looking to bring next-generation radiopharmaceuticals to the Japan market and beyond.”
NMP’s product portfolio includes GE HealthCare radiopharmaceuticals used to enable molecular imaging across neurology, cardiology, and oncology procedures. NMP, headquartered in Tokyo, was formed in 1973 and generated revenues of 28.2B JPY (~USD 183M) in 2023. GE HealthCare acquired Amersham plc in 2004, and subsequently held a 50% stake in NMP.
The Company expects this transaction to be neutral to Adjusted EPS in year one and accretive thereafter.GE HealthCare was advised by Solomon Partners Securities, LLC.
