Healthcare System to Acquire IBA Molecular North America, Inc., Expands Nuclear Medicine Footprint

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Illinois Health and Science (IHS) announced that it has signed a definitive agreement to acquire IBA Molecular North America, Inc. (IBAM NA), the US subsidiary of IBA Molecular; the acquisition includes all IBAM NA’s cyclotron sites and its research and development facilities. IBA Molecular is a global radiopharmaceutical business that is jointly owned by SK Capital Partners and Ion Beam Applications S.A.

Illinois Health and Science (IHS) announced that it has signed a definitive agreement to acquire IBA Molecular North America, Inc. (IBAM NA), the US subsidiary of IBA Molecular. The acquisition includes all IBAM NA’s cyclotron sites and its research and development facilities. IBA Molecular is a global radiopharmaceutical business that is jointly owned by SK Capital Partners and Ion Beam Applications S.A.

"We are a healthcare system and a hospital operator,” said Ken Smithmier, President and CEO of IHS. “We fully understand the needs of patients and physicians. Our acquisition of IBAM NA is driven by our unmatched capability to serve patients. As we transition, our primary focus will be on our customers. IBAM NA’s acquisition will complement our other investments in the nuclear medicine field, including the 70 MeV cyclotron. With this addition, we will be able to serve end-to-end needs of customers and provide a comprehensive product line. We accomplish our mission by enabling a US-based, reliable, stable, accessible, and affordable supply of all medical use radiopharmaceuticals for all patients."

IHS’s CFO and Chief Investment Officer Al Naqvi said, "IBAM NA will become a critical component of our IHS portfolio. From diversifying our risk to strengthening our operating earnings, IBAM NA’s acquisition will provide a platform to rollout our unique PET (Positron Emission Tomography) strategy."

Commenting on the acquisition, Renaud Dehareng, CEO of IBA Molecular said, “We are very happy about the transaction with IHS and IBAM NA. They share IBA Molecular’s values and commitment to customers, employees and patients, and have demonstrated a strong commitment to the nuclear medicine industry. We look forward to working together with IHS to close the transaction as expeditiously as possible and we are excited about the future of IBAM NA.”

IBAM NA’s headquarters will remain in Northern Virginia.

IHS’s wholly owned subsidiary Zevacor Molecular is building America’s largest and most comprehensive radioisotope production facility. Zevacor’s 70 MeV cyclotron is expected to revolutionize the supply chain of cardiology diagnostics. IBAM NA’s addition to the IHS portfolio will create powerful synergies, access to novel isotopes, distribution improvements, and powerful value for patients.

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 http://www.ihsholdings.org

IBA Molecular North America, Inc. is part of IBA Molecular, a global developer, manufacturer and distributor of radiopharmaceutical products and supporting services used in molecular imaging. IBA Molecular has engineered a strong and 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. Founded in 1986, IBA Molecular, with North American headquarters in Dulles, Virginia, is jointly owned by SK Capital Partners and Ion Beam Applications S.A. The company is a leading manufacturer and distributor of PET agents in North America, and PET and SPECT agents in Europe and Asia, with a network of 49 sites worldwide including 14 sites in the US. For more information, please visit http://www.ibamolecular.com

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Mike Cassell
Illinois Health & Science
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