Sotera Health has entered into a definitive asset purchase agreement to sell the Medical Isotopes segment of its Nordion business to a subsidiary of BWX Technologies. According to the company, the transaction will create a platform that will accelerate growth for both companies.
“The world’s need for gamma technology has expanded dramatically as the demand for sterilization of medical and nonmedical applications has accelerated in response to increasing global regulatory demands and growing healthcare needs” says Michael Petras, chief executive officer of Sotera Health. “The sale will enable BWXT to enter the medical isotope field with highly skilled employees and specialized facilities that are recognized as the best in the business. As the world’s only fully integrated provider of mission-critical services to the healthcare industry, Sotera Health is excited about the additional value Nordion will bring to our gamma customers, and our other best-in-class businesses, Sterigenics and Nelson Labs.”
Through the agreement, BWXT will acquire essentially all of Nordion’s medical isotope assets, including the radiochemical operation and contract manufacturing services in Kanata, and the medical isotope operation in Vancouver, BC, Canada.
Both companies will continue to operate from Nordion’s state-of-the-art licensed facility in Kanata, Ontario. Approximately 150 employees will transition to BWXT at the close of the sale.
“Nordion will continue to focus on accelerating growth in gamma technologies, including industrial and medical cobalt-60, which fits perfectly with Sotera Health’s broader mission of safeguarding global health,” says Kevin Brooks, president of Nordion.