Ion Beam Applications (IBA) and SK Capital Partners, a New York City-based private investment firm, announced they have successfully completed their agreement to create IBA Molecular, a jointly owned company derived from IBA's worldwide radiopharmaceutical division.
IBA Molecular manufactures and distributes radioactive isotopes used for medical imaging and therapy, employs more than 1,000 people, and has 50 locations in Europe, Asia, and the U.S.
IBA received a net payment of 74.7 million euros ($99.6 million U.S.). It booked an additional loss of 23.8 million euros ($31.7 million U.S.) on the transaction than stated in its annual earning statement for 2011, for a total net loss of 84.1 million ($112.2 million U.S.).
