DULLES, Va., April 17, 2015 /PRNewswire/ -- IBA Molecular, a global leader in the manufacture and distribution of radiopharmaceuticals, announced today that it has signed a definitive agreement to sell its U.S. operations, IBA Molecular North America, Inc. (IBAM NA), to Illinois Health and Science (IHS). Under IHS ownership, IBAM NA will continue to operate as an independent company headquartered in Dulles, Virginia, and will be well positioned to take advantage of new product and footprint synergies. IBA Molecular is jointly owned by SK Capital Partners and Ion Beam Applications S.A.
IHS is the parent company of Decatur Memorial Hospital and Zevacor Molecular Inc. Decatur Memorial is a large, regional not-for-profit hospital with over $900M in revenues that has been in operation for almost 100 years. Zevacor Molecular is currently developing a new, high capacity radiopharmaceutical production facility near Indianapolis, which will house a 70 MeV cyclotron. IBAM NA, with its state-of-the-art manufacturing and distribution network, and its expertise in radiolabeling and radiopharmaceutical development, will work collaboratively with Zevacor to produce a wide range of radionuclides for both research and clinical applications. Their complementary capabilities will provide customers with a more comprehensive product line and a network of reliable, accessible, and affordable supply locations for all medical-use radiopharmaceuticals.
Commenting on the agreement, Renaud Dehareng, CEO of IBA Molecular said, "We are proud of what has been accomplished by our North American team in the past 3 years, particularly in compliance, customer service, efficiency and research services. We are now poised for further growth focused on patient care and innovation. IHS is the ideal shareholder for this new phase. They share our values and commitment to customers, employees and patients, and have taken a strong leadership role in the nuclear medicine industry."
Ken Smithmier, the CEO of IHS, Decatur Memorial Hospital and Zevacor, noted, "The acquisition of IBAM NA is highly complementary to the IHS investment in the radiopharmaceutical and molecular imaging industry and is a logical and important part of our strategic plan to be a leader in providing state-of-the-art healthcare. IHS is committed to improving healthcare at every level, and we believe this collaboration will enable us to continue to deliver on that promise."
About IBA Molecular
IBA Molecular is a leading developer, manufacturer and distributor of radiopharmaceutical products and supporting services used in molecular imaging with operations throughout Europe, Asia and the U.S. IBA Molecular has a unique product portfolio and pipeline of diagnostic and therapeutic tracers aimed at advancing the development of the global movement towards personalized medicine and making molecular imaging/therapy a major discipline in healthcare. The company also provides educational, technical and marketing support to medical specialists worldwide to help better respond to patient needs. IBA Molecular is jointly owned by SK Capital Partners and Ion Beam Applications S.A.
For more information, please visit www.ibamolecular.com
About Illinois Health and Science
Illinois Health and Science (IHS) is a non-profit healthcare system that specializes in enhancing patient care by making strategic investments in healthcare related opportunities. Focused on enhancing the span, experience, and quality of human life, IHS is a science and technology based firm, with specific focus on creating patient value. Headquartered in Illinois, IHS is led by senior leaders from healthcare and financial services industries. For more information, please visit www.ihsholdings.org
SOURCE IBA Molecular