Lantheus Holdings, the parent company of Lantheus Medical Imaging, has sold its radiopharmacies and FDG injection manufacturing and distribution business in Canada.
The buyer is Isologic Innovative Radiopharmaceuticals for the price of $9 million (U.S.) in cash. As part of the transaction, the companies have also signed a long-term supply contract for Lantheus to supply Isologic with its products on commercial terms, while Isologic has agreed to certain product purchase commitments.
The deal includes four radiopharmacies owned by Lantheus in Dorval and Quebec City, Quebec; Mississauga, Ontario; and Vancouver, British Columbia.
Lantheus President and CEO Mary Anne Heino said the transaction is designed to simplify the company's distribution in Canada and improve operational efficiencies.
Lantheus will keep its business in Canada that sells bulk radiopharmaceuticals, such as TechneLite generators and other nuclear medicine products, and its Definity ultrasound contrast agent.
