GE HealthCare Sofie Biosciences acquisition set at $945M

GE HealthCare has agreed to buy Sofie Biosciences for $945 million in cash, MedTech Dive reported. The GE HealthCare acquisition of Sofie Biosciences expands the company's US reach in radiopharmaceuticals. GE HealthCare announced the deal on Monday.

What Sofie Biosciences does

Sofie Biosciences is a contract manufacturing organisation for positron emission tomography radiopharmaceuticals. These radioactive drugs power imaging tests that show metabolic and molecular activity. They also treat a range of diseases. Sofie runs a US network of 15 CMO sites.

Why the footprint matters

BTIG analyst Ryan Zimmerman told clients the deal gives GE HealthCare a US base to make and ship F18-labelled PET products. Those products have a 110-minute half-life, so production and delivery are time-sensitive.

Zimmerman added that the extra capacity could ease bottlenecks in the adoption cycle for radiopharmaceuticals.

Deal terms and timing

Once the deal closes, Sofie becomes part of PDx, GE HealthCare's pharmaceutical diagnostics arm. The company expects to complete the deal in the first half of 2027. Sofie will stay an independent manufacturing partner and keep supplying its current portfolio, including products from other radiopharmaceutical providers.

GE HealthCare plans to widen access to its own F18 products and advance new ones. It will work through Sofie and PDx's other CMO partners across the US. The company also gains US rights to FAPI-74, a pipeline pan-cancer PET radiotracer. It already holds rights outside the US. Sofie already makes GE HealthCare's Flyrcado F18 injection.

GE HealthCare says the purchase should lift revenue growth and adjusted earnings per share across its first full year as owner.

Executive comment

Kevin O'Neill, CEO of GE HealthCare's PDx business, said in a statement: "As part of GE HealthCare, Sofie Biosciences is expected to grow in the low double digits, and enables us to participate across the radiopharmaceutical value stream, meeting customer demand through a mix of GE HealthCare owned and partner facilities."

Why it matters

The deal ties a major imaging supplier to a US network of radiopharmaceutical manufacturing sites. Coverage on Medigear.uk tracks the GE HealthCare Sofie Biosciences acquisition and the wider PET imaging supply chain.

Source: MedTech Dive