Cardinal Health completes Biotech acquisition
Addition highlights growth opportunity in Positron Emission Tomography imaging agents
DUBLIN, Ohio.— Cardinal Health today announced it has agreed to acquire the assets of privately held Biotech, an operator of Positron Emission Tomography (PET) cyclotrons and nuclear pharmacies in the Southwestern United States.
Cardinal Health owns and operates a network of nearly 160 nuclear pharmacies and operates 26 cyclotron-based PET radiopharmaceutical manufacturing facilities. These facilities are registered with the Food and Drug Administration (FDA) to manufacture PET imaging agents that are used by physicians to diagnose various medical conditions.
With the addition of Biotech’s four nuclear pharmacies, Cardinal Health will expand its existing U.S. PET business. The facilities are located across Arizona, Nevada, New Mexico and Texas.
In addition to the manufacturing and distribution of fluorodeoxyglucose (FDG)-based PET agents, Cardinal Health recently opened its network to support clinical trials of new and novel PET agents to advance the future of molecular imaging. In addition to helping manufacturers expand the pipeline of new agents that will aid in the diagnosis and treatment of disease, the company also works with pharmaceutical companies and physicians interested in using PET products to determine the efficacy of therapeutic medications.
“The Biotech acquisition helps demonstrate Cardinal Health’s commitment to advancing the future of molecular imaging, accelerates the build-out of our PET business and augments our leading network of nuclear pharmacies,” said John Rademacher, president and general manager of Nuclear and Specialty Pharmacy Services for Cardinal Health. “In addition to their facilities across the Southwestern U.S., Biotech’s highly skilled employees and their intellectual property will be immediately applicable to support our expanding role in supporting new drug development.”
In addition to operating the broadest radiopharmacy network in the United States, Cardinal Health is also the largest employer of nuclear pharmacists in the world. The combination of that nuclear pharmacy expertise and the breadth of its network allows Cardinal Health to reach more than 85 percent of all U.S. hospitals within three hours and provide service and clinical expertise to the nuclear medicine community.
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