Telix to acquire RLS for $250 million
por Lauren Dubinsky, Senior Reporter | September 23, 2024
Business Affairs
Molecular Imaging
Telix Pharmaceuticals Limited has plans to acquire RLS Inc. for up to $250 million. The company's goal is to expand its North American manufacturing and distributing footprint and establish a next-generation radiometal production network.
"Our aim is to create a radiometal production network for both therapeutic and diagnostic isotopes, capable of meeting the demands of a rapidly growing market," Kevin Richardson, CEO, Telix Precision Medicine, told HCB News. "We are dedicated to excellence in radiometal production, scaling up manufacturing, radiolabeling, and ensuring last-mile delivery — essentially building a comprehensive radiopharmaceutical ecosystem."
Telix plans to use RLS' 31 licensed radiopharmacies located in major U.S. metropolitan cities to establish a radiometal production and distribution network for therapeutic and diagnostic isotopes. RLS has over 100,000 square feet of licensed expansion space that can be used for this project.
Telix also plans to come up with a clear pathway for deploying its ARTMS QUANTM Irradiation System cyclotron technology. The technology allows for decentralized production of purified radiopharmaceuticals and is compatible with most OEM cyclotrons.
"The RLS facilities are specifically designed with ample space and capacity to expand the manufacturing infrastructure for isotope production, along with last-mile delivery services," said Richardson. "Strategic installation of multiple cyclotrons in these facilities would leverage Telix’s ARTMS QUANTM Irradiation System cyclotron technology, which enables standardized, high-efficiency, and cost-effective radiometal production."
As part of the deal, RLS will continue to serve its current customers as an independent business unit under Telix Manufacturing Solutions (TMS), which includes other brands such as ARTMS, IsoTherapeutics, and Optimal Tracers.
RLS will become an important part of the TMS business network of U.S. manufacturing and distribution partnerships and will be complementary to the Good Manufacturing Process production facility in Belgium.
RLS brought in $158 million in revenue for FY23, and this transaction is expected to be cost-neutral for Telix from an operating cash flow perspective. Since RLS is the current distributor of the Illuccix Gallium 68 PSMA-11 PET imaging agent, the transaction is expected to be accretive for Telix.
The acquisition is subject to regulatory approvals, RLS shareholder approval, license transfers, and third-party consents. If all goes well, the deal is anticipated to close in the first quarter of next year.
Back to HCB News
"Our aim is to create a radiometal production network for both therapeutic and diagnostic isotopes, capable of meeting the demands of a rapidly growing market," Kevin Richardson, CEO, Telix Precision Medicine, told HCB News. "We are dedicated to excellence in radiometal production, scaling up manufacturing, radiolabeling, and ensuring last-mile delivery — essentially building a comprehensive radiopharmaceutical ecosystem."
Telix plans to use RLS' 31 licensed radiopharmacies located in major U.S. metropolitan cities to establish a radiometal production and distribution network for therapeutic and diagnostic isotopes. RLS has over 100,000 square feet of licensed expansion space that can be used for this project.
Telix also plans to come up with a clear pathway for deploying its ARTMS QUANTM Irradiation System cyclotron technology. The technology allows for decentralized production of purified radiopharmaceuticals and is compatible with most OEM cyclotrons.
"The RLS facilities are specifically designed with ample space and capacity to expand the manufacturing infrastructure for isotope production, along with last-mile delivery services," said Richardson. "Strategic installation of multiple cyclotrons in these facilities would leverage Telix’s ARTMS QUANTM Irradiation System cyclotron technology, which enables standardized, high-efficiency, and cost-effective radiometal production."
As part of the deal, RLS will continue to serve its current customers as an independent business unit under Telix Manufacturing Solutions (TMS), which includes other brands such as ARTMS, IsoTherapeutics, and Optimal Tracers.
RLS will become an important part of the TMS business network of U.S. manufacturing and distribution partnerships and will be complementary to the Good Manufacturing Process production facility in Belgium.
RLS brought in $158 million in revenue for FY23, and this transaction is expected to be cost-neutral for Telix from an operating cash flow perspective. Since RLS is the current distributor of the Illuccix Gallium 68 PSMA-11 PET imaging agent, the transaction is expected to be accretive for Telix.
The acquisition is subject to regulatory approvals, RLS shareholder approval, license transfers, and third-party consents. If all goes well, the deal is anticipated to close in the first quarter of next year.
Back to HCB News
1(current)
You Must Be Logged In To Post A CommentRegistroRegistrarse es Gratis y Fácil. Disfruta de los beneficios del Mercado de Equipos Médicos Nuevos y Usados líder en el mundo. ¡Regístrate ahora! |
|
