Siemens Healthineers has closed on a deal to buy Novartis’ Advanced Accelerator Applications Molecular Imaging business. The acquired company will be known as Advanced Accelerator Applications, Siemens said.
The acquisition, first announced in August, complements Siemens’ PETNET Solutions network of 47 PET radiopharmacies, primarily in the U.S., with an additional 13 manufacturing sites across France, Spain, Portugal, Italy, and Germany, as well as product distribution into Switzerland, the company said. PETNET Solutions also manufactures diagnostic agents used for theranostics, an emerging field of cancer treatment.
The transaction includes the manufacturing and distribution network of Advanced Accelerator Applications Molecular Imaging, its workforce of approximately 420 employees, its established product portfolio, and relationships with radioligand imaging developers, Siemens said.
Novartis bought Advanced Accelerator Applications for $3.9 billion in 2017, according to Reuters.
