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How is private equity changing Radiopharmacy?
, 19-January-2012

What is feeding the investment into Radiopharmacy? Several years ago, the equity firm Parthenon Capital Partners bought out Coastal Nuclear Pharmacy in FL, Diversified Pharmacy in GA and Cox Nuclear Pharmacy in AL, and created Triad Isotopes which now has national distribution, and considered second behind Cardinal in the SPECT business. Their equity partner has supported a  massive growth from 15 radiopharmacies in the Southeast to approximately 68 nationwide including the Mallinckrodt acquisition in 2010.

Now IBA Molecular Molecular has a private equity firm investor called SK Capital Partners with 50% control. What are their plans? Will they expand into new markets? I would assume yes, so the next couple of years should be interesting as the radiopharmacy markets continue to consolidate. What is driving these investments? I believe it is the forecasted growth for both SPECT and PET, but more on that later...

 

IBA Molecular gets partly bought out for $234M

SK Capital Partners, a New York City-based private investment firm, has signed a definitive agreement to create IBA Molecular Imaging, a jointly-owned new company derived from the radiopharmaceutical division of IBA (Ion Beam Applications).

IBA Molecular Imaging, based in Dulles, Va., manufactures and distributes radioactive isotopes used for medical imaging, with more than 50 locations in Europe, the U.S. and Asia, and employs more than 1,000 people. The transaction is valued at approximately EUR180 million ($234 million U.S.). SK Capital will own 60 percent of the recapitalized entity and IBA will retain a 40 percent stake.

Former IBA radiopharmaceutical division President Renaud Dehareng will continue to lead the business as CEO of IBA Molecular Imaging.

Pending regulatory approval, the transaction is expected to close by the second quarter.

ING is leading the debt financing of the transaction. UBS Limited acted as sole financial advisor to IBA on the transaction. Houlihan Lokey and ING were financial advisors to SK Capital.

 

Posted By : Nishant
Test
Posted Date : 30-May-2012
Description :
nice article
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