IBA Molecular announced today that Illinois Health and Science (IHS) will be acquiring its U.S. subsidiary, IBA Molecular North America, Inc. (IBAM NA). IHS will acquire the entirety of IBAM NA’s cyclotron sites as well as its research and development facilities.
“We are proud of what has been accomplished by our North American team in the past 3 years, particularly in compliance, customer service, efficiency and research services,” Renaud Dehareng, CEO of IBA Molecular, said in a statement. “We are now poised for further growth focused on patient care and innovation.”
IHS is a non-profit health care system that aims to improve patient care by making strategic investments like this acquisition. It’s the parent company of Decatur Memorial Hospital, a large, regional non-for-profit hospital, and Zevacor Molecular Inc., a manufacture of PET and SPECT radiopharmaceuticals.
"We are a health care system and a hospital operator,” Ken Smithmier, president and CEO of IHS, said in a statement. “We fully understand the needs of patients and physicians. Our acquisition of IBAM NA is driven by our unmatched capability to serve patients.”
Zevacor is working on building a high-capacity radiopharmaceutical production facility that will accommodate a 70 MeV cyclotron. Since IBAM NA has expertise in radiolabeling and radiopharmaceutical development, it is going to work with Zevacor to develop a variety of radionuclides for research and clinical purposes.
IBA Molecular is owned by both Ion Beam Applications S.A. and SK Capital Partners. It will remain an independent company and will retain its headquarters in Dulles, Virginia.