GE HealthCare has agreed to acquire full ownership of Nihon Medi-Physics (NMP). The company will purchase the remaining 50% stake it does not own from Sumitomo Chemical. Sumitomo and GE HealthCare expect the agreement to close in early 2025, subject to regulatory approvals.

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 world¹, and amongst the leading countries by number of cyclotrons², 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.”

As part of GE HealthCare, NMP can 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. 

NMP’s product portfolio includes GE HealthCare radiopharmaceuticals used to enable clinical images across neurology, cardiology, and oncology procedures. 

NMP, headquartered in Tokyo, was formed in 1973 and generated revenues of roughly $183 million 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. 

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.”

References:

¹ https://www.trade.gov/country-commercial-guides/japan-pharmaceuticals, accessed on October 29, 2024
² https://nucleus.iaea.org/sites/accelerators/Pages/Cyclotron.aspx, accessed on October 29, 2024