Date: 2017-01-27
Type of information: Pipeline acquisition
Acquired company: Mallinckrodt's nuclear imaging business (UK)
Acquiring company: IBA Molecular (Belgium)
Amount: $690 million
Terms: • On January 27, 2017, Mallinckrodt announced that it has closed the sale of its global Nuclear Imaging business to IBA Molecular (IBAM) for approximately $690 million before tax, including up-front and contingent considerations and the assumption of long-term obligations. The total consideration of approximately $690 million (before tax) consists of approximately $574 million of up-front consideration, the assumption of approximately $39 million of long-term obligations, and approximately $77 million of contingent consideration.
Details:
- Mallinckrodt's action to divest nuclear imaging continues the company's strategy to transform its portfolio with specialty pharmaceutical assets that are durable, innovative and have significant volume growth potential. These nuclear imaging operations encompass two manufacturing facilities and a total of more than 800 employees in locations across the globe, including nearly 350 in the St. Louis, Mo. area. The entire workforce and the manufacturing facilities have been transferred to IBAM.
- This business is a prominent global producer of the key medical isotope molybdenum-99, from which technetium-99m (Tc-99m) is derived. Tc-99m is used in roughly 80%1 of all nuclear medicine procedures worldwide, and the business is a significant U.S. and global supplier of this radioisotope.
- IBAM has over 1,500 skilled employees across four continents, a global manufacturing footprint comprising 21 leading-edge production facilities, a commercial presence in over 60 countries serving more than 6,000 customers and very complementary product portfolios and technical capabilities.
Related:
Is general: Yes
