Siemens Healthineers has finalized its acquisition of Advanced Accelerator Applications Molecular Imaging from Novartis, broadening its footprint in the production and distribution of PET radiopharmaceuticals.

The deal, first reported in August, enhances Siemens Healthineers' PETNET Solutions network of 47 U.S.-based radiopharmacies by adding 13 manufacturing sites across Europe, including locations in France, Spain, Portugal, Italy, and Germany.

The acquisition also includes distribution capabilities in Switzerland. With the short half-life of PET radiopharmaceuticals, proximity to production sites is crucial for timely delivery to patients.
“This acquisition comes at a pivotal time in radiopharmaceutical innovation, where PET imaging plays a central role in determining patient eligibility for advanced cancer and neurological therapies,” said Jim Williams, head of Molecular Imaging at Siemens Healthineers. “Advanced Accelerator Applications brings unmatched expertise in nuclear medicine and proven operational excellence.”

The newly integrated workforce of approximately 420 employees will operate as Advanced Accelerator Applications, a Siemens Healthineers company.

According to Siemens, the PET diagnostics sector in the covered markets is valued at €500 million annually and is projected to triple by 2033, driven by innovations in tracers targeting oncology, neurology, and cardiology applications.

PETNET Solutions, part of Siemens Healthineers’ Molecular Imaging business, delivers nearly 1.6 million doses annually to over 2,800 imaging centers worldwide, serving as a global leader in PET radiopharmaceuticals production and distribution.

Murmurs about a potential sale of parts of the AAA business surfaced late last year. Novartis has recently zeroed in on high-growth areas in cardiovascular, immunology, neuroscience, solid tumors, and hematology markets, including gene and cell therapy, radioligand therapy, and "xRNA".

AAA was founded in 2002 as a spinoff of CERN, and produces radiopharmaceuticals for PET and SPECT imaging of cancers, cardiovascular, and neurological disorders in the early stages, as well as for therapeutics, including precision radioligand imaging and targeted radioligand therapy. Among its products are Pluvicto, for treating castration-resistant prostate cancer, and Lutathera, the first-ever approved peptide receptor radionuclide therapy for treating somatostatin-receptor positive gastroenteropancreatic neuroendocrine tumors.

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