GE Healthcare to acquire full stake in Nihon Medi-Physics

GE HealthCare will take on full ownership of the drug company Nihon Medi-Physics in a transaction with Sumitomo Chemical that is expected to close in early 2025, the company announced Monday.

Nihon Medi-Physics’ portfolio includes radiopharmaceuticals for neurology, cardiology and oncology that are used in clinical imaging to help diagnose Alzheimer’s disease, Parkinson’s disease, dementia with Lewy bodies and coronary artery disease. The GE HealthCare-Sumitomo Chemical is subject to regulatory review and the companies did not disclose the terms of the deal.

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GE HealthCare has owned half of Nihon Medi-Physics since 2004, when former parent company General Electric obtained the stake as part of its acquisition of drugmaker Amersham.

Kevin O’Neill, president and CEO of GE HealthCare's pharmaceutical diagnostics segment, described the deal as key to the company's international plans. "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,” he said in a news release.

Nihon Medi-Physics, which was founded 1973, is headquartered in Tokyo and owns 13 manufacturing facilities. The company generated $183 million in revenue in 2023, according to GE HealthCare.

GE HealthCare acquired Intelligent Ultrasound's clinical AI business for $51 billion in October and MIM Software in April for an undisclosed amount.