GE HealthCare Completes Acquisition of Nihon Medi-Physics (NMP), a Leading Radiopharmaceutical Company in Japan
GE HealthCare Technologies Inc. (GE HealthCare or the Company) (Nasdaq: GEHC) has completed its acquisition of the remaining 50% stake in Nihon Medi-Physics Co., Ltd (NMP), from Sumitomo Chemical, giving it full ownership. As part of GE HealthCare, NMP can further 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 GE HealthCare’s Pharmaceutical Diagnostics (PDx) segment, who will also become President of NMP, said: “We are delighted to welcome Nihon Medi-Physics to GE HealthCare, increasing our existing footprint and offering in Japan, where our contrast media and medical devices are used every day to enable imaging procedures across the country. Japan is on a path to becoming a leader in the $7 billion molecular imaging global market1 and a center of excellence for Asian markets. As part of GE HealthCare, NMP will play a key role in that journey, including bringing its deep expertise and scale to global innovators looking to bring next-generation radiopharmaceuticals to the Japan market and beyond.”
NMP’s product portfolio includes GE HealthCare radiopharmaceuticals used to enable molecular imaging across neurology, cardiology and oncology procedures. NMP, headquartered in Tokyo, was formed in 1973 and generated revenues of 28.2B JPY (~$183M) in 2023. GE HealthCare acquired Amersham plc in 2004, and subsequently held a 50% stake in NMP.
The Company expects this transaction to be neutral to Adjusted EPS2 in year one and accretive thereafter.
GE HealthCare was advised by Solomon Partners Securities, LLC.
The intent to acquire the remaining 50% stake in NMP was announced in December 2024.
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,” and similar expressions. These forward-looking statements may include, but are not limited to, statements about the transaction, the expected results of the transaction, future market conditions, and 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 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; and the Company may assume unexpected risks and liabilities. 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 the U.S. Securities and Exchange Commission and 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.
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