IBA Molecular acquires Mallinckrodt Nuclear Imaging to create world-class radiopharmaceuticals Group

Transaction follows receipt of regulatory approvals.

Combined business produces diagnostic solutions for over 14 million patients annually from a global network of 21 manufacturing centres and a customer base of over 6,000 public and private hospitals around the world.

PARIS, France and ST LOUIS, Missouri, January 27, 2017: IBA Molecular has successfully completed its acquisition of Mallinckrodt Nuclear Imaging, announced in August 2016, following the receipt of regulatory approvals.

This merger brings together two leading nuclear imaging businesses with complementary strengths, manufacturing capabilities, commercial footprints and operational networks. The enlarged business will employ over 1,500 people globally, supplying more than 6,000 public and private hospitals around the world with diagnostic solutions. It will comprise 21 manufacturing centres (including 3 SPECT1 sites, 1 molybdenum manufacturing facility and 17 PET2 sites) and commercial operations across 60 countries, that will enable it to deliver significant economies of scale. Annually, the combined business will provide potentially life-saving diagnostic solutions to over 14 million patients globally.

Nuclear imaging will continue to be at the core of the enlarged organisation as the business plans to invest further in organic and in-organic growth opportunities.

To reflect the future ambition of the expanded business, a new name and brand is currently being developed which is due to be rolled out in the coming months. In the meantime, the two businesses will continue to engage with customers and suppliers as IBA Molecular and Mallinckrodt Nuclear Imaging and it will be business as usual for customers and suppliers.

Commenting on the announcement, Renaud Dehareng, current CEO of IBA Molecular and the new CEO of the enlarged Group, said: “We have created a world-class provider in nuclear imaging. The figures speak for themselves. We will use our scale, global reach, manufacturing footprint and experience to deliver a superior and more sharply focused service that our customers can rely upon everyday.”

Commenting on behalf of CapVest, the owner of the enlarged business, Kate Briant, CapVest Partner and Chairman of the Board, said: “Nuclear imaging is an essential diagnostic tool in modern medicine, underpinned by positive long-term fundamentals. We are thrilled to have completed this acquisition as it further consolidates the Group’s leadership position in this attractive segment. We believe there will be lots of future growth opportunities to exploit as we seek to grow the market in the coming years. We look forward to working closely with Renaud and his new leadership team as they pursue their ambitious growth plans for the business.”