Decatur, Illinois (PRWEB) August 03, 2015
Illinois Health & Science (IHS) has completed the purchase of IBA Molecular North America (IBAM NA) effective July 31.
The acquisition includes all of IBAM NA’s cyclotron sites and research and development facilities.
“We are excited at the opportunity to have both, a robust regionally located business, as well as a large manufacturing hub in Noblesville, Indiana,” said Ken Smithmier, President and CEO of IHS. “The ability to make large quantities of radiotracers in short supply, and have a network to distribute them is a great advantage for us. We see these companies as a platform to spur innovation, increase supply, and deliver significant value to the diagnostic imaging community. ”
The addition of IBAM NA and its network helps leverage the capabilities of IHS's other isotope business, Zevacor Molecular.
“Teaming up these companies and their management teams with decades of industry specific experience provides strong synergies for the growth of both companies and launch of future molecular imaging tracers” Smithmier said. “The companies will initially operate as separate, but closely related entities.”
IBAM NA will be renamed within the year, and ultimately the two related businesses will combine into a single entity.
IBAM NA has a robust 10,000-square-foot clinical development laboratory currently located in Somerset, New Jersey. Zevacor Molecular’s 72,000- square-foot 70meV cyclotron facility in Noblesville, Ind., will allow expansion to work with bio technology companies along the entire continuum of drug development, from chemistry development, initial trial supply, scale up, all the way to commercial supply.
“We see diagnostic imaging and therapeutics with companion diagnostics as a key to better identifying disease and treating it effectively,” Smithmier said.
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 a leading developer, manufacturer and distributor of PET agents used in molecular imaging in North America with a network of 14 sites. For more information, please visit http://www.ibamolecular.com