Siemens Healthineers has finalized its acquisition of Advanced Accelerator Applications Molecular Imaging from Novartis. This newly integrated division comprises a European network dedicated to the production and supply of diagnostic radiopharmaceuticals for PET scans. Per the official announcement, the unit will now operate as “Advanced Accelerator Applications, a Siemens Healthineers company.”
Initial indications of Siemens Healthineers’ intention to acquire this sector from Novartis emerged in August. Although exact financial terms weren’t disclosed, the Financial Times estimated the transaction amount at around $224 million during initial reports.
This acquisition is seen as an enhancement to Siemens Healthineers’ PETNET Solutions, which already includes a robust network of 47 PET radiopharmacies, predominantly located in the United States. PETNET also extends its operations across Europe with 13 additional manufacturing sites in countries such as France, Spain, Portugal, Italy, and Germany, and distributes products up to Switzerland. Furthermore, it produces diagnostic agents essential for theranostics, focusing on personalized cancer treatments.
The transaction brings with it the comprehensive manufacturing and distribution network of Advanced Accelerator Applications Molecular Imaging, a significant workforce of roughly 420 professionals, a well-established product range, and numerous collaborative links with radioligand imaging developers.
“The radiopharmaceutical industry is at a pivotal point, propelled by innovative strides within the pharmaceuticals realm, where PET plays a crucial role in advancing patient eligibility for emerging cancer and neurodegenerative therapies,” asserted Jim Williams, head of Molecular Imaging at Siemens Healthineers. “The real value lies in ensuring timely delivery to patients, hence our excitement about integrating the capabilities of Advanced Accelerator Applications, known for its exceptional operations, deep expertise in nuclear medicine, and outstanding industry record.”