CHALFONT ST GILES, ENGLAND -- GE HealthCare (Nasdaq: GEHC) has agreed to acquire full ownership of Nihon Medi-Physics Co., Ltd (NMP), by purchasing from Sumitomo Chemical (TYO: 4005) the 50% stake it does not already own. As part of GE HealthCare, NMP can build on its expertise 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. Sumitomo and GE HealthCare expect the agreement to close in early 2025, subject to regulatory approvals.

NMP’s product portfolio includes GE HealthCare radiopharmaceuticals used to enable clinical images across neurology, cardiology and oncology procedures, such as its amyloid visualization radiotracer, VIZAMYL® Injection (Flutemetamol (18F) Injection), used in the Alzheimer’s pathway; DaTSCAN® Injection (Ioflupane (¹²³I) injection) used to evaluate patients with suspected Parkinson’s Disease or Dementia with Lewy Bodies; and MYOVIEW® (Technetium (99mTc) Tetrofosmin), used in SPECT myocardial perfusion imaging for the evaluation of known or suspected coronary artery disease. NMP, headquartered in Tokyo, was formed in 1973 and generated revenues of 28.2B JPY (~$183M) 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 its Board of Directors.

Kevin O’Neill, President & CEO of the Pharmaceutical Diagnostics (PDx) segment of GE HealthCare, said: “As the third largest pharmaceutical market in the world[1], and amongst the leading countries by number of cyclotrons[2], 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.”

Hiroshi Ueda, Executive Vise President, Sumitomo Chemical, 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 recognize NMP’s leadership and talented team for their significant achievements to date and their commitment to patients.”

As a leading global medical technology and pharmaceutical diagnostics innovator, GE HealthCare provides both molecular imaging equipment and proprietary radiotracers used across major patient care areas. The recent U.S. FDA approval of GE HealthCare’s first-of-its-kind PET radiopharmaceutical, Flyrcado™ (flurpiridaz F 18 injection), its in-licensing of Phase II FAPI assets and broadening theranostics offerings are all examples of the company’s commitment to novel diagnostics that are shaping the future of molecular imaging to drive improved patient outcomes. GE HealthCare’s PDx segment is a global leader in imaging agents used to support over 120 million patient procedures per year globally, equivalent to four patient procedures every second.

The Company expects this transaction to be neutral to Adjusted EPS[3], [4] in year one and accretive thereafter.