GE HealthCare Ends 2024 with Some M&AGE HealthCare Ends 2024 with Some M&A

GE HealthCare is ending 2024 just as it began the year – with an acquisition. The Chicago, IL-based company said it is acquiring the remaining 50% stake in Nihon Med-Physics  (NMP), from Sumitomo Chemical. The deal is expected to close in early 2025.

GE HealthCare said that NMP can 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 the Pharmaceutical Diagnostics (PDx) segment of GE HealthCare, said in prepared statements: “As the third largest pharmaceutical market in the world, and amongst the leading countries by number of cyclotrons, Japan is on a path to becoming a leader in the $7 billion molecular imaging global market and a center 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 Japan 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.”

Related:5 Safety Threats to Preformed Sterile Barrier Systems Storage & Handling

Tokyo-based NMP was formed in 1973 and generated revenues of $183 million in 2023. In addition to 13 manufacturing facilities, NMP also focuses on research and development, including nonclinical and clinical development of radiotracers and theranostics research. GE HealthCare has held its 50% stake in NMP since acquiring Amersham plc in 2004 and holds three positions on the board.

The company is starting to garner a reputation for kicking off the year with acquisitions. Back in January of 2023 – a week after being spun off from General Electric, GE HealthCare acquired Imactics, a French developer of CT interventional guidance technology.  

This past January, GE HealthCare announced it would acquire MIM Software, a company offering medical imaging analysis and artificial intelligence solutions. GE HealthCare has gone throughout the year to make other acquisitions including Intelligent Ultrasound’s Group clinical AI software business.