GE HealthCare has finalized its acquisition of the remaining 50% stake in Nihon Medi-Physics (NMP) from Sumitomo Chemical, making the Tokyo-based radiopharmaceutical company a wholly owned subsidiary.

The move expands GE HealthCare’s footprint in Japan’s molecular imaging market, building on NMP’s manufacturing and development capabilities in radiopharmaceuticals used in PET and SPECT imaging. The deal was first announced in December 2024.

NMP’s portfolio includes products used in neurology, cardiology, and oncology imaging procedures. In 2023, the company reported revenue of ¥28.2 billion (approximately $183 million). NMP was established in 1973 and had been a 50-50 joint venture between GE HealthCare and Sumitomo Chemical since GE’s acquisition of Amersham plc in 2004.
Kevin O’Neill, president and CEO of GE HealthCare’s pharmaceutical diagnostics segment, will take on an additional role as president of NMP.

“We are delighted to welcome Nihon Medi-Physics to GE HealthCare, increasing our existing footprint and offering in Japan, where our contrast media and medical devices are used every day to enable imaging procedures across the country,” O’Neill said, adding that NMP’s capabilities could help position Japan as a hub for radiopharmaceutical innovation in Asia.

GE HealthCare expects the acquisition to be neutral to adjusted earnings per share in the first year and accretive thereafter. Financial terms of the transaction were not disclosed. The company was advised by Solomon Partners Securities, LLC.

NMP’s integration is expected to support GE HealthCare’s broader strategy to expand access to radiopharmaceuticals, with a focus on next-generation molecular imaging agents.

Molecular Imaging Homepage