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GE HealthCare to Acquire Full Ownership of Nihon Medi-Physics, Expanding Molecular Imaging Leadership in Asia

NextEdge Admin

03 Dec 2024

2 min 19 sec

GE HealthCare plans to acquire full ownership of Nihon Medi-Physics (NMP), a Tokyo-based leader in diagnostic radiopharmaceuticals and molecular imaging agents. Previously, ownership was split equally with Sumitomo Chemical, but GE HealthCare will now purchase the remaining 50% stake, with the transaction set to close by March 2025.

Japan, the world’s third-largest pharmaceutical market, is poised to become a leader in the $7 billion global molecular imaging market, supported by its high number of cyclotrons. Kevin O’Neill, CEO of GE HealthCare’s pharmaceutical diagnostics segment, emphasized NMP’s critical role in advancing precision care in Asia. NMP will leverage its expertise and scale to help global innovators bring novel products to Japan and beyond, bolstering GE HealthCare’s presence in the region, where its contrast media and devices are widely used.

Founded in 1973, NMP operates 13 manufacturing facilities and produces GE HealthCare radiotracers such as Vizamyl, DaTSCAN, and Myoview, used in neurology, cardiology, and oncology imaging. In 2023, NMP generated ¥28.2 billion ($183 million) in revenue.

Sumitomo Chemical, which has partnered with GE HealthCare since 2004, supports the transition. Executive Vice President Hiroshi Ueda expressed confidence in GE HealthCare’s ability to drive NMP’s growth amid industry advancements. Sumitomo anticipates the deal will contribute approximately ¥30 billion ($200 million) to its operating income.

This acquisition aligns with GE HealthCare’s strategy to strengthen its precision medicine capabilities and expand its influence in Asia’s imaging and diagnostic sectors.