GE HealthCare to Acquire Remaining 50% Stake in Nihon Medi-Physics (NMP), a Leading Radiopharmaceutical Company in Japan, from Sumitomo Chemical

GEHCV 12.02.2024

Full Press ReleaseSEC FilingsOur GEHCV Tweets

About Gravity Analytica

Recent News

  • 02.13.2025 - GE HealthCare Fourth Quarter and Full Year 2024 Earnings Conference Call
  • 01.15.2025 - University of California San Francisco and GE HealthCare Launch a Joint Research Program to Drive Innovations in Imaging, Brain Health and Precision Oncology
  • 01.14.2025 - 43rd Annual J.P. Morgan Healthcare Conference

Recent Filings

  • 12.12.2024 - 8-K Current report
  • GE HealthCareto acquire 50% stake from Sumitomo Chemical to assume full ownership of NMP, subject to regulatory approvals
  • As part ofGE HealthCare, NMP, already a leading radiopharmaceutical company inJapan, will enhance patient access to next-generation radiopharmaceuticals that enable detection and diagnosis of disease
  • Acquisition positions NMP to become partner of choice for global innovators looking to bring novel radiopharmaceuticals toJapanand other Asian markets
  • Transaction bolsters GE HealthCare’sPharmaceutical Diagnosticssegment and demonstrates its commitment to shaping the future of Molecular Imaging

CHALFONT ST GILES,England--(BUSINESS WIRE)--Dec. 1, 2024--GE HealthCare(Nasdaq: GEHC) has agreed to acquire full ownership ofNihon Medi-Physics Co., Ltd(NMP), by purchasing from Sumitomo Chemical (TYO: 4005) the 50% stake it does not already own. As part ofGE 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.SumitomoandGE HealthCareexpect the agreement to close in early 2025, subject to regulatory approvals.

This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20241201060498/en/

Nihon Medi-Physics headquarters and woman looking at molecular imaging images (Photo: Business Wire)

Nihon Medi-Physicsheadquarters and woman looking at molecular imaging images (Photo: Business Wire)

NMP’s product portfolio includesGE HealthCareradiopharmaceuticals 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 inTokyo, was formed in 1973 and generated revenues of28.2B 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 HealthCarehas held its 50% stake in NMP since acquiringAmersham plcin 2004 and holds three positions on its Board of Directors.

Kevin O’Neill, President & CEO of thePharmaceutical Diagnostics(PDx) segment ofGE HealthCare, said: “As the third largest pharmaceutical market in the world1, and amongst the leading countries by number of cyclotrons2,Japanis on a path to becoming a leader in the$7 billionmolecular 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 theJapanmarket and beyond. This will strengthen our precision care strategy inAsiaand our existing footprint inJapan, 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 withGE HealthCareto ensure patients inJapancould benefit from access to molecular imaging. At a time of exciting developments in the industry, following its discussions with Sumitomo Chemical, we believeGE HealthCareis 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 HealthCareprovides both molecular imaging equipment and proprietary radiotracers used across major patient care areas. The recentU.S.FDA approval of GE HealthCare’s first-of-its-kind PET radiopharmaceutical, FlyrcadoTM (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 EPS3,4in year one and accretive thereafter.

GE HealthCarewas advised bySolomon Partners Securities, LLC.

Forward-Looking Statements

This release contains forward-looking statements. These forward-looking statements might be identified by words, and variations of words, such as “will,” “expect,” “may,” “would,” “could,” “plan,” “believe,” “anticipate,” “intend,” “estimate,” “potential,” “position,” “forecast,” “target,” “guidance,” “outlook,” and similar expressions. These forward-looking statements may include, but are not limited to, statements about the transaction, the completion and expected results of the transaction, and GE HealthCare Technologies Inc.’s (the “Company’s”) performance, growth opportunities, and strategy. These forward-looking statements involve risks and uncertainties, many of which are beyond the control of the Company. Factors that could cause the Company’s actual results to differ materially from those described in its forward-looking statements include, but are not limited to, the conditions to the completion of the transaction may not be satisfied; closing of the transaction may not occur or may be delayed; the Company may be unable to achieve the anticipated benefits of the transaction; operating costs and business disruptions (including, without limitation, difficulties in maintaining relationships with employees, customers, and suppliers) may be greater than expected; the Company may assume unexpected risks and liabilities; and completing the transaction may distract the Company’s management from other important matters. Other factors that may cause such a difference also include those discussed in the "Risk Factors" section of the Company’s Annual Report on Form 10-K filed with theU.S. Securities and Exchange Commissionand any updates or amendments it makes in future filings. There may be other factors not presently known to the Company or which it currently considers to be immaterial that could cause the Company’s actual results to differ materially from those projected in any forward-looking statements the Company makes. The Company does not undertake any obligation to update or revise its forward-looking statements except as required by applicable law or regulation.

AboutGE HealthCare Technologies Inc.

GE HealthCareis a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, dedicated to providing integrated solutions, services, and data analytics to make hospitals more efficient, clinicians more effective, therapies more precise, and patients healthier and happier. Serving patients and providers for more than 125 years,GE HealthCareis advancing personalized, connected, and compassionate care, while simplifying the patient’s journey across the care pathway. Together our Imaging, Advanced Visualization Solutions, Patient Care Solutions, andPharmaceutical Diagnosticsbusinesses help improve patient care from diagnosis, to therapy, to monitoring. We are a$19.6 billionbusiness with approximately 51,000 colleagues working to create a world where healthcare has no limits.

Follow us onLinkedIn,X,Facebook,Instagram, andInsightsfor the latest news, or visit our websitehttps://www.gehealthcare.comfor more information.

1https://www.trade.gov/country-commercial-guides/japan-pharmaceuticals, accessed onOctober 29, 20242https://nucleus.iaea.org/sites/accelerators/Pages/Cyclotron.aspx, accessed onOctober 29, 20243See our latestearnings releasedatedOctober 30, 2024for the definition of Adjusted EPS.4Non-GAAP financial measure

View source version onbusinesswire.com:https://www.businesswire.com/news/home/20241201060498/en/

GE HealthCare Media Contact:David MorrisM +44 7920 591370david.j.morris@gehealthcare.com

Mathilde BouscaillouM +33 647 008271mathilde.bouscaillou@gehealthcare.com

Source:GE HealthCare

Please be aware that the following content has been generated by an AI system and may contain errors, inconsistencies, or outdated information. It is provided as-is without any warranties or guarantees of accuracy. We strongly recommend using this content as a starting point for further research and consultation with relevant experts or authorities. We disclaim any liability for damages or losses resulting from the use or reliance on this content.Please note that this is a beta version of the Gravity Analytica LLC’s AI Service which isstill undergoing final testing before its official release. Theplatform, its software and all content found on it are provided on an“as is” and “as available” basis. Gravity Analytica LLC does not give any warranties,whether express or implied, as to the suitability or usability of thisservice, webpage, or its software or any of its content.Should you encounter any bugs, glitches, lack of functionality orother problems on the website, please let us know immediately so wecan rectify these accordingly. Your help in this regard is greatlyappreciated! You can write to us at this addressteam@gravityanalytica.com