Siemens Healthineers Expands into Europe with Acquisition of Novartis’ Radiodiagnostic Manufacturing Network

Acquisition Value:
Over $223 million (approximately €200 million)

Acquired Entity:
Advanced Accelerator Applications (AAA), the diagnostics arm of Novartis

Purpose:
To expand Siemens Healthineers' PET radiopharmaceuticals business into Europe

Significance:
Enhances Siemens Healthineers' position in the medical imaging field, particularly in manufacturing radioactive substances for PET scans

Expected Completion:
By the end of 2024, pending regulatory approval

Impact:
Strengthens Siemens Healthineers' leading position in the imaging market and ensures a reliable supply of essential materials for its imaging equipment sector

Collaboration:
Novartis and Siemens Healthineers will work together to improve the supply chain for nuclear isotopes used in radiopharmaceuticals like Lutathera