General Electric Healthcare (GEHC.US) will acquire the remaining 50% of NMP to strengthen its radiopharmaceuticals business.

Zhitong Finance learned that GE Healthcare (GEHC.US) has agreed to acquire the remaining 50% of Nihon Medi-Physics (NMP) from Sumitomo Chemical, aiming to gain full ownership of the Japanese radiopharmaceutical company. The transaction is expected to be completed in early 2025. The transaction is expected to have a neutral impact on GE Healthcare's adjusted EPS in the first year and then increase earnings.

With this development, GE Healthcare plans to strengthen its expertise in radiopharmaceuticals for imaging procedures for various disease detection and diagnosis. NMP's portfolio includes GE Healthcare radiopharmaceuticals for clinical imaging in neurology, cardiology, and oncology surgeries. NMP generated revenue of about $183 million in 2023. It has 13 manufacturing facilities and focuses on research and development, including the nonclinical and clinical development of radioactive tracers and therapeutic studies.

The move will strengthen GE Healthcare's drug diagnostics division and increase patients' access to next-generation radiopharmaceuticals in Japan and the Asia-Pacific market. GE Healthcare has held 50% of NMP since its acquisition of Amersham plc in 2004 and has three positions on its board.