IBA to set up new radiopharma company with SK Capital

Belgium-based Ion Beam Applications (IBA.) and SK Capital Partners, a US private investment firm, have finalized their agreement to create IBA Molecular, a jointly-owned company derived from IBA’s worldwide radiopharmaceutical division. The transaction is valued at around 180 million euros ($234 million), with SK Capital owning 60% of the recapitalized entity and IBA retaining a 40% stake. Pending regulatory approval, the transaction is expected to close by the second quarter.

IBA Molecular is a world-wide leader in the manufacturing and distributing radioactive isotopes used for medical imaging and therapy, with over 50 locations in the USA, Europe and Asia, and employing over 1,000 people. As an independent, focused radiopharmaceutical company, IBA Molecular will be better able to take advantage of its recently upgraded manufacturing and distribution platform and will seek to expand its
research, manufacturing and product partnerships. The company will continue its commitment to deliver value to its customers with innovative marketing programs for molecular imaging and therapy.

Jamshid Keynejad, a managing director of SK Capital, said, “We are excited to have been chosen as a partner by IBA in the continuing growth and development of their radiopharmaceutical business. We believe we can build upon a solid business foundation by leveraging SK Capital’s unique strengths and capabilities to drive future value by enhancing its manufacturing assets, expanding its geographic coverage and investing in new product development.”