GE HealthCare to buy Sofie Biosciences for $945 million to strengthen radiopharma business

Oct 5 (Reuters) - Medical device maker GE HealthCare GEHC.O said on Monday it would buy privately held Sofie Biosciences for $945 million in cash, in a move that strengthens its ability to manufacture and distribute PET imaging drugs.

The acquisition will give GE HealthCare US rights to FAPI-74, an experimental PET imaging agent in late-stage testing that could be used to detect several types of cancer. GE HealthCare already owns rights to the product outside the US.

Here are more details:

• The deal bolsters GE HealthCare's pharmaceutical diagnostics arm by adding products used with its imaging systems and increasing its exposure to the growing radiopharmaceuticals market

• It comes after Curium in August struck a deal of up to $8 billion for radiopharma peer Lantheus, underscoring rising dealmaking in the industry as firms seek to capitalize on the growing use of radioactive drugs in cancer care

• GE HealthCare's radiopharma business includes Flyrcado, a PET imaging agent approved by the US FDA for detecting coronary artery disease, myocardial ischemia and heart attacks

• The company bought Montreal-based medical imaging software provider Intelerad in a $2.3 billion takeover in March, expanding its outpatient care reach

• It said Sofie would continue to manufacture products for existing customers, including other radiopharma companies, after the transaction closes, which is expected in the first half of 2027

• Sofie Biosciences, owned by private equity firm Trilantic, develops products including radioisotopes used in PET scans. It also operates facilities that make and distribute them for hospitals and imaging centers