CHALFONT ST GILES, England--(BUSINESS WIRE)--Dec 1, 2024--
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.
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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 ( 18 F) 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 ( 99m Tc) 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.
GE HealthCare was advised by Solomon 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 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.
About GE HealthCare Technologies Inc.
GE HealthCare is 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 HealthCare is 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, and Pharmaceutical Diagnostics businesses help improve patient care from diagnosis, to therapy, to monitoring. We are a $19.6 billion business with approximately 51,000 colleagues working to create a world where healthcare has no limits.
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1https://www.trade.gov/country-commercial-guides/japan-pharmaceuticals, accessed on October 29, 2024
2https://nucleus.iaea.org/sites/accelerators/Pages/Cyclotron.aspx, accessed on October 29, 2024
3 See our latest earnings release dated October 30, 2024 for the definition of Adjusted EPS.
4 Non-GAAP financial measure
Nihon Medi-Physics headquarters and woman looking at molecular imaging images (Photo: Business Wire)
TBILISI, Georgia (AP) — A third night of protests in the Georgian capital against the government’s decision to suspend negotiations to join the European Union left 44 people hospitalized, officials said Sunday.
Tens of thousands of demonstrators gathered outside the parliament Saturday night, throwing stones and setting off fireworks, while police deployed water cannons and tear gas. An effigy of the founder of the governing Georgian Dream party, Bidzina Ivanishvili — a shadowy billionaire who made his fortune in Russia — was burned in front of the legislature.
Georgia’s Interior Ministry said Sunday that 27 protesters, 16 police and one media worker were hospitalized.
Prime Minister Irakli Kobakhidze warned that “any violation of the law will be met with the full rigor of the law.”
"Neither will those politicians who hide in their offices and sacrifice members of their violent groups to severe punishment escape responsibility,” he said at a briefing Sunday.
He insisted it wasn't true that Georgia’s European integration had been halted. "The only thing we have rejected is the shameful and offensive blackmail, which was, in fact, a significant obstacle to our country’s European integration.” The government’s announcement came hours after the European Parliament adopted a resolution criticizing last month’s general election in Georgia as neither free nor fair.
Kobakhidze also dismissed the U.S. State Department’s statement Saturday that it was suspending its strategic partnership with Georgia. The statement condemned Georgia’s decision to halt its efforts toward EU accession.
“You can see that the outgoing administration is trying to leave the new administration with as difficult a legacy as possible. They are doing this regarding Ukraine, and now also concerning Georgia,” Kobakhidze said. “This will not have any fundamental significance. We will wait for the new administration and discuss everything with them.”
Kobakhidze also confirmed that Georgia’s ambassador to the U.S., David Zalkaliani, had become the latest of a number of diplomats to stand down since the protests started.
EU foreign policy chief Kaja Kallas and enlargement commissioner Marta Kos released a joint statement Sunday on the Georgian government’s decision to suspend negotiations.
“We note that this announcement marks a shift from the policies of all previous Georgian governments and the European aspirations of the vast majority of the Georgian people, as enshrined in the Constitution of Georgia,” the statement said.
It reiterated the EU's “serious concerns about the continuous democratic backsliding of the country” and urged Georgian authorities to “respect the right to freedom of assembly and freedom of expression, and refrain from using force against peaceful protesters, politicians and media representatives.”
The ruling Georgian Dream party’s disputed victory in the Oct. 26 parliamentary election, which was widely seen as a referendum on Georgia’s aspirations to join the EU, has sparked major demonstrations and led to an opposition boycott of parliament.
The opposition has said that the vote was rigged with the help of Russia, Georgia’s former imperial master, with Moscow hoping to keep Tbilisi in its orbit.
Speaking to The Associated Press on Saturday, Georgia's pro-Western President Salome Zourabichvili said that her country was becoming a “quasi-Russian” state and that Georgian Dream controlled the major institutions.
“We are not demanding a revolution. We are asking for new elections, but in conditions that will ensure that the will of the people will not be misrepresented or stolen again,” Zourabichvili said.
The EU granted Georgia candidate status in December 2023 on condition that it meet the bloc’s recommendations, but put its accession on hold and cut financial support earlier this year after the passage of a “foreign influence” law widely seen as a blow to democratic freedoms.
Police use a water cannon to block protesters holding Georgian national flags during a rally against the governments' decision to suspend negotiations on joining the European Union for four years, outside the parliament's building in Tbilisi, Georgia, on Sunday, Dec. 1, 2024. (AP Photo/Zurab Tsertsvadze)
A demonstrator fires a firecracker towards police during a rally against the government's decision to suspend negotiations on joining the European Union for four years, outside the parliament's building in Tbilisi, Georgia, Monday, Dec. 2, 2024. (AP Photo/Zurab Tsertsvadze)
A demonstrator uses a firecrackers against police during a rally against the government's decision to suspend negotiations on joining the European Union for four years, outside the parliament in Tbilisi, Georgia, early Monday, Dec. 2, 2024. (AP Photo/Zurab Tsertsvadze)
Police block a street to prevent protesters during a rally against the government's decision to suspend negotiations on joining the European Union for four years, outside the parliament in Tbilisi, Georgia, on Sunday, Dec. 1, 2024. (AP Photo/Zurab Tsertsvadze)
Police use a water cannon to block protesters during a rally against the governments' decision to suspend negotiations on joining the European Union for four years, outside the parliament's building in Tbilisi, Georgia, on Sunday, Dec. 1, 2024. (AP Photo/Zurab Tsertsvadze)
Protesters with Georgian national flags shout toward police during a rally against the governments' decision to suspend negotiations on joining the European Union for four years, outside the parliament's building in Tbilisi, Georgia, on Sunday, Dec. 1, 2024. (AP Photo/Zurab Tsertsvadze)
Police officers detain a demonstrator at a subway station during a rally against the government's decision to suspend negotiations on joining the European Union for four years in Tbilisi, Georgia, Monday, Dec. 2, 2024. (AP Photo/Zurab Tsertsvadze)
Demonstrators go down an escalator to hide from the police in a subway station during a rally against the government's decision to suspend negotiations on joining the European Union for four years in Tbilisi, Georgia, Monday, Dec. 2, 2024. (AP Photo/Zurab Tsertsvadze)
Demonstrators run to hide from the police in a subway station during a rally against the government's decision to suspend negotiations on joining the European Union for four years in Tbilisi, Georgia, Monday, Dec. 2, 2024. (AP Photo/Zurab Tsertsvadze)
Police use a water cannon on protesters during a rally against the government's decision to suspend negotiations on joining the European Union for four years, outside the parliament's building in Tbilisi, Georgia, early Monday, Dec. 2, 2024. (AP Photo/Zurab Tsertsvadze)
A masked demonstrator throws an object toward police during a rally against the governments' decision to suspend negotiations on joining the European Union for four years, outside the parliament's building in Tbilisi, Georgia, on Sunday, Dec. 1, 2024. (AP Photo/Zurab Tsertsvadze)
Police officers detain journalist Giorgi Chamelishvili during a rally against the government's decision to suspend negotiations on joining the European Union for four years, outside the parliament's building in Tbilisi, Georgia, early Monday, Dec. 2, 2024. (AP Photo/Zurab Tsertsvadze)
Police officers detain demonstrators at a subway station during a rally against the government's decision to suspend negotiations on joining the European Union for four years in Tbilisi, Georgia, Monday, Dec. 2, 2024. (AP Photo/Zurab Tsertsvadze)
A demonstrator uses firecrackers against police as protesters rally against the government's decision to suspend negotiations on joining the European Union for four years, outside the parliament's building in Tbilisi, Georgia, early on Sunday, Dec. 1, 2024. (AP Photo/Zurab Tsertsvadze)
Demonstrators stand near a fire during a rally outside the parliament's building to protest the government's decision to suspend negotiations on joining the European Union for four years in Tbilisi, Georgia, early Sunday, Dec. 1, 2024. (AP Photo/Zurab Tsertsvadze)
A demonstrator runs through tear gas clouds during a rally outside the parliament's building to protest the government's decision to suspend negotiations on joining the European Union for four years in Tbilisi, Georgia, early Sunday, Dec. 1, 2024. (AP Photo/Zurab Tsertsvadze)
Protesters run away from police as they rally against the governments' decision to suspend negotiations on joining the European Union for four years, outside the parliament's building in Tbilisi, Georgia, early on Sunday, Dec. 1, 2024. (AP Photo/Zurab Tsertsvadze)
Police block a street against protesters rallying against the governments' decision to suspend negotiations on joining the European Union for four years, outside the parliament's building in Tbilisi, Georgia, early on Sunday, Dec. 1, 2024. (AP Photo/Zurab Tsertsvadze)
Police block a street to prevent protesters rallying against the governments' decision to suspend negotiations on joining the European Union for four years, outside the parliament's building in Tbilisi, Georgia, early on Sunday, Dec. 1, 2024. (AP Photo/Zurab Tsertsvadze)
Two women hold an EU and Georgian national flag as protesters rally against the governments' decision to suspend negotiations on joining the European Union for four years, outside the parliament's building in Tbilisi, Georgia, early Sunday, Dec. 1, 2024. (AP Photo/Zurab Tsertsvadze)
A demonstrator gestures as police block a street as protesters rally against the government's decision to suspend negotiations on joining the European Union for four years, outside the parliament's building in Tbilisi, Georgia, early Sunday, Dec. 1, 2024. (AP Photo/Zurab Tsertsvadze)
Demonstrators fire a firecracker towards police during a rally against the government's decision to suspend negotiations on joining the European Union for four years, outside the parliament's building in Tbilisi, Georgia, early Sunday, Dec. 1, 2024. (AP Photo/Zurab Tsertsvadze)
Demonstrators use firecrackers against police during a rally against the government's decision to suspend negotiations on joining the European Union for four years, outside the parliament's building in Tbilisi, Georgia, early Sunday, Dec. 1, 2024. (AP Photo/Zurab Tsertsvadze)
