GE HealthCare to Acquire SOFIE Biosciences for $945 Million to Expand U.S. Radiopharmaceutical Manufacturing
GE HealthCare (Nasdaq: GEHC) has announced a definitive agreement to acquire SOFIE Biosciences, a leading U.S.-based contract manufacturing organization (CMO) specializing in PET radiopharmaceuticals, from Trilantic North America for $945 million in cash.
The transaction is expected to close in the first half of 2027, subject to customary closing conditions, including receipt of required regulatory approvals. Following completion, SOFIE Biosciences will become part of GE HealthCare’s Pharmaceutical Diagnostics (PDx) segment, expanding the company’s presence across the U.S. radiopharmaceutical manufacturing landscape.
The acquisition is designed to strengthen GE HealthCare’s position in the increasingly important radiopharmaceutical sector while establishing a larger operational footprint in the time-sensitive “final mile” of the U.S. PET radiopharmaceutical supply chain. It will also allow the company’s Pharmaceutical Diagnostics business to participate in additional high-growth areas beyond its existing product portfolio.
With SOFIE Biosciences’ network of 15 CMO sites operating 21 cyclotrons, along with a contract development and manufacturing organization (CDMO) facility focused on theranostics, GE HealthCare expects to significantly broaden its U.S. radiopharmaceutical capabilities. The combination is intended to support reliable patient access to existing and emerging radiopharmaceutical products while strengthening GE HealthCare’s ability to serve customers across the rapidly evolving precision medicine market.
Expanding GE HealthCare’s Radiopharmaceutical Footprint
Radiopharmaceuticals have become an increasingly important component of precision medicine, combining advanced imaging capabilities with molecular targeting to help clinicians diagnose, characterize and, in some cases, treat disease.
GE HealthCare’s planned acquisition of SOFIE Biosciences would extend the company’s capabilities deeper into the manufacturing and supply infrastructure required to deliver these products to patients.
The transaction would provide GE HealthCare with a network positioned close to patients and healthcare providers across the United States. This geographic footprint is particularly important for PET radiopharmaceuticals because many products have relatively short radioactive half-lives and must be manufactured, transported and administered within tightly controlled timeframes.
SOFIE Biosciences operates a network comprising 15 CMO locations and 21 cyclotrons, providing the infrastructure needed to manufacture PET radiopharmaceuticals across multiple locations. The company also operates a theranostics-focused CDMO site, giving GE HealthCare an opportunity to expand beyond diagnostic imaging into the broader radiopharmaceutical development and manufacturing ecosystem.
The acquisition is expected to complement GE HealthCare’s existing capabilities in cyclotron technology, imaging systems, digital workflow solutions and radiotherapeutics infrastructure.
Together, these capabilities could allow GE HealthCare to support more stages of the theranostics pathway, from the production of radioactive isotopes and radiopharmaceutical manufacturing to imaging, workflow management and infrastructure supporting targeted radiotherapeutic approaches.
Supporting the Growth of PET Radiopharmaceuticals
Kevin O’Neill, President and CEO of the PDx segment at GE HealthCare, said the PET radiopharmaceutical market is expanding rapidly as new radiotracers and precision-care approaches enter clinical development and adoption.
“The PET radiopharmaceutical market is expanding rapidly with the introduction of innovative radiotracers and advances in precision care, including the growing adoption of targeted therapies,” O’Neill said.
As part of GE HealthCare, SOFIE Biosciences is expected to grow in the low double digits, according to the company. The acquisition would allow GE HealthCare to participate across a broader portion of the radiopharmaceutical value chain and meet customer demand through a combination of GE HealthCare-owned facilities and partner manufacturing sites.
O’Neill also highlighted SOFIE Biosciences’ specialized workforce and its experience serving customers across the United States.
“SOFIE Biosciences has a highly skilled team with deep expertise serving U.S. customers, including manufacturing our Flyrcado™ (flurpiridaz F18 injection) product,” he said.
GE HealthCare intends to use its scale and existing radiopharmaceutical manufacturing expertise across the United States, Europe and Japan to support further investment in SOFIE Biosciences.
The company expects the combined capabilities to help improve patient access, strengthen supply reliability and support development of the next generation of precision-care products.
Importance of the “Final Mile” in PET Manufacturing
One of the central strategic benefits of the transaction is GE HealthCare’s entry into a more extensive portion of the U.S. PET radiopharmaceutical supply chain.
PET radiopharmaceuticals are radioactive medicines used to visualize metabolic and molecular activity inside the body. Because radioactive materials decay over time, manufacturing and distribution require precise coordination. The shorter the half-life of a radiotracer, the more important it becomes to locate production close to the healthcare facilities where it will be administered.
F18-labeled PET radiopharmaceuticals have a half-life of approximately 110 minutes. This creates a highly time-sensitive manufacturing and distribution environment in which PET CMOs play an important role in ensuring that radiopharmaceutical products reach patients within appropriate timeframes.
SOFIE Biosciences’ geographically distributed manufacturing network could therefore provide GE HealthCare with additional infrastructure to address the logistical demands associated with F18 products.
The acquisition is expected to position GE HealthCare more directly in this critical “final mile,” complementing the company’s existing expertise in imaging agents and imaging equipment.
Growing Pipeline of Radiopharmaceutical Products
The radiopharmaceutical industry is experiencing rapid growth as pharmaceutical and biotechnology companies advance new diagnostic radiotracers and targeted radiotherapeutics.
According to the information provided by GE HealthCare, approximately 20 PET radiotracers and more than 30 radiotherapeutics are currently under development across the industry.
This expanding pipeline represents a significant opportunity for manufacturers with the technical capabilities, specialized infrastructure and geographic reach required to produce radiopharmaceuticals at commercial scale.
SOFIE Biosciences brings experience in this area, including its Phase III F18 Fibroblast Activation Protein Inhibitor (FAPI) asset, FAPI-74.
GE HealthCare already holds rights to FAPI-74 outside the United States. The acquisition of SOFIE Biosciences would therefore bring together manufacturing capabilities and GE HealthCare’s existing interest in an emerging PET imaging technology.
FAPI-based imaging is being investigated for its ability to target fibroblast activation protein (FAP), a biological marker associated with a range of cancers and other disease processes. FAPI approaches have attracted interest because of their potential applications across both oncologic and non-oncologic indications.
GE HealthCare said FAPI has the potential to further expand the already fast-growing global PET imaging market and has demonstrated strong potential for both diagnostic and theranostic applications.
Continuing Existing Product Access
GE HealthCare said it will continue to expand access to its existing proprietary F18 radiopharmaceutical products while advancing its pipeline of new products.
These efforts will involve SOFIE Biosciences as well as GE HealthCare’s established CMO partners across the United States.
The strategy reflects the company’s intention to operate a diversified manufacturing model rather than relying solely on facilities directly owned by GE HealthCare. By combining its own infrastructure with external manufacturing partners, the company expects to increase flexibility and capacity while addressing growing customer demand.
The acquisition could also give GE HealthCare additional opportunities to support radiopharmaceutical products developed by other companies.
SOFIE Biosciences to Continue Serving Customers
Following completion of the transaction, SOFIE Biosciences is expected to continue operating as an independent manufacturing partner for its customers.
The company will continue supplying its existing product portfolio, including products developed or commercialized by other leading radiopharmaceutical providers.
Maintaining this independent customer-facing role is an important aspect of the planned transaction because SOFIE Biosciences serves a broader radiopharmaceutical ecosystem. Its manufacturing infrastructure supports products from multiple companies, and continued operation as a manufacturing partner is expected to preserve those relationships.
Patrick Phelps, co-founder, President and CEO of SOFIE Biosciences, described the transaction as an important next step for the company as demand for F18 products and new radiopharmaceutical technologies continues to increase.
“As demand continues to increase for F18 products, and pipelines for new diagnostics and therapeutics continue to expand, joining GE HealthCare marks an exciting step in our journey as a leading U.S. CMO,” Phelps said.
He also credited Trilantic North America with supporting SOFIE Biosciences’ expansion and investment in its manufacturing network.
“With Trilantic North America’s support, we have significantly expanded our capabilities and scale, and we share GE HealthCare’s ambition to improve patient outcomes by delivering on the promise of radiopharmaceuticals as we look ahead to our next phase of growth,” he added.
Trilantic Highlights SOFIE’s Expansion
Ted Rosenwasser, Partner at Trilantic North America, said the investment partnership had enabled SOFIE Biosciences to expand its capabilities and manufacturing network to address increasing demand.
“We are incredibly proud of what Patrick and the SOFIE Biosciences team have accomplished during our partnership,” Rosenwasser said.
He pointed to the company’s growth, investments in its network and expansion of manufacturing capabilities as important achievements during Trilantic North America’s ownership.
SOFIE Biosciences has expanded its infrastructure to help meet increasing demand and improve the reliability of patient access to critical radiopharmaceutical products.
Rosenwasser also identified GE HealthCare as a natural partner for the company’s next stage of development, citing its global expertise and established position in healthcare technology.
“GE HealthCare’s legacy and global expertise make it a natural partner to support SOFIE Biosciences’ continued growth and help expand access for U.S. patients to novel diagnostic and therapeutic radiopharmaceuticals,” he said.
GE HealthCare Brings Large-Scale Imaging Diagnostics Expertise
The transaction builds on GE HealthCare’s longstanding presence in pharmaceutical diagnostics.
GE HealthCare’s Pharmaceutical Diagnostics segment is a global leader in imaging agents, supporting approximately 140 million procedures in 2025, equivalent to about four patient procedures every second.
For more than four decades, GE HealthCare’s imaging agents have been used across healthcare pathways to support diagnosis.
The planned acquisition would add a substantial radiopharmaceutical manufacturing network to that established imaging diagnostics business.
Rather than simply expanding the company’s portfolio of imaging agents, the transaction would give GE HealthCare additional capabilities in manufacturing and supply chain operations for radiopharmaceutical products. This could become increasingly important as precision medicine advances and more targeted imaging and therapeutic products reach clinical practice.
Expected Financial Benefits
In addition to the strategic and operational benefits, GE HealthCare expects the transaction to contribute positively to its financial performance.
The company estimates that the acquisition will be accretive to revenue growth, Adjusted earnings before interest and taxes (EBIT) margin, and Adjusted earnings per share in the first full year of ownership.
The purchase price for SOFIE Biosciences is $945 million in cash.
The transaction remains subject to customary closing conditions, including regulatory approvals, and is currently expected to close during the first half of 2027.
Until closing, SOFIE Biosciences will continue operating under its existing ownership structure.
Advisors to the Transaction
GE HealthCare said BofA Securities, Consello Financial LLC and Solomon Partners Securities LLC served as financial advisors to the company in connection with the transaction.
The planned acquisition represents a significant expansion of GE HealthCare’s involvement in the radiopharmaceutical manufacturing market at a time when PET imaging and theranostics are gaining momentum.
By combining SOFIE Biosciences’ U.S. network of 15 CMO sites and 21 cyclotrons with GE HealthCare’s established expertise in imaging agents, imaging technology, digital solutions and radiopharmaceutical manufacturing across the United States, Europe and Japan, the company aims to build a broader platform spanning multiple stages of the radiopharmaceutical value chain.
If completed as planned, the acquisition would give GE HealthCare a stronger position in the time-sensitive supply chain supporting PET imaging while also providing opportunities to participate in emerging diagnostic and therapeutic applications. With the radiopharmaceutical pipeline continuing to expand, GE HealthCare expects the combination to support future product development, manufacturing capacity and patient access.
Ultimately, the $945 million acquisition of SOFIE Biosciences reflects GE HealthCare’s strategy of expanding beyond traditional imaging technology into a broader precision-medicine ecosystem. Through its planned integration into the Pharmaceutical Diagnostics segment, SOFIE Biosciences is expected to strengthen the infrastructure required to deliver radiopharmaceuticals reliably while helping GE HealthCare participate more extensively in the rapidly developing fields of PET imaging and theranostics.
About GE HealthCare Technologies Inc.
GE HealthCare is a leading global healthcare solutions provider of advanced medical technology, pharmaceutical diagnostics, and AI, cloud and software solutions that help clinicians tackle the world’s most complex diseases. Serving patients and providers for 130 years, GE HealthCare is delivering bold innovations designed for the next era of medicine across its Advanced Imaging Solutions, Pharmaceutical Diagnostics and Patient Care Solutions segments to help clinicians deliver more personalized, precise patient care. We are a $20.6 billion business with approximately 54,000 colleagues working to create a world where healthcare has no limits.
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About SOFIE Biosciences
SOFIE Biosciences’ mission is to improve patient outcomes by developing and delivering molecular diagnostics and therapeutics (Theranostics). With a robust radiopharmaceutical production and distribution network, mature contract manufacturing services, and high-value Theranostic intellectual property, SOFIE Biosciences is delivering on the promise of radiopharmaceuticals. For more information, please visit www.sofie.com or info@sofie.com.
About Trilantic North America
Trilantic Capital Management L.P. (“Trilantic North America”) is a growth-focused middle market private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the business and consumer services sectors. Since inception, Trilantic North America has managed seven private equity fund families, representing $11.6B in raised capital commitments.