Sofie expands its network by acquiring Cyclotope Radiopharmacy from Houston Cyclotron Partners

Sofie expands its network by acquiring Cyclotope Radiopharmacy from Houston Cyclotron Partners

Press releases may be edited for formatting or style | June 18, 2019 Molecular Imaging
HOUSTON, June 17, 2019 /PRNewswire/ -- Los Angeles-based SOFIE Inc. (SOFIE), a molecular imaging and theranostic company, announces the acquisition of a Cyclotope Radiopharmacy from Houston Cyclotron Partners. HealthCare Markets Group, an investment banking firm specializing in healthcare M&A advisory services, represented Houston Cyclotron Partners. Following this acquisition, SOFIE will operate 17 radiopharmacies throughout the US, with plans to expand into five additional markets in the next 24 months. The company serves over 400,000 patients annually at 700 clinical practices, and supports R&D and contract manufacturing for both pharma partnerships and SOFIE's own proprietary drug development efforts.

Houston Cyclotron Partners' CFO Charles Delacey was confident that SOFIE was the right fit for his firm's divestiture. "Houston Cyclotron Partners was a non-core business for its parent company, but it was imperative for us to find a good steward to take on operations, since the products we produce have a major impact on patient lives and serve a major metropolitan area. We were as focused on finding the right partner as we were on completing the financial elements of the transaction. It was clear that SOFIE was that partner."

"SOFIE is a strong cultural fit for Houston Cyclotron Partners and the clients it serves; they share a common vision for a service-oriented operation that will help shape the future landscape of delivering superior health care," added Monte B. Tucker, managing director and head of HealthCare Markets Group.

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SOFIE Chief Revenue Officer Philipp Czernin said, "We are grateful to have found a way to come to terms with Charles and Houston Cyclotron Partners, very excited to expand into the Houston market, and see a tremendous opportunity on the horizon for the company. Houston has a population of nearly 7 million and is one of the premier healthcare markets in the United States, anchored by first class hospitals, hospital systems, and research and university hospitals. Our management team believes that our new Houston site will play a pivotal role in our growth as healthcare professionals begin to incorporate new theranostic agents, which our firm is heavily betting on, into their arsenal. The future of nuclear medicine is bright."

SOFIE Chief Technology Officer Melissa Moore agrees. "We're looking forward to our Houston and Dallas sites being able to provide back-up service to each other, increasing reliability and up-time for customers in one of our busiest markets, while also increasing our new products footprint in Texas to support our contract manufacturing business."

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