Ifunanya OkaforLife Healthcare Sells Radiopharmaceuticals Business to Lantheus for $350 Million
South African private hospital operator Life Healthcare announced on Monday the sale of its radiopharmaceuticals division, Life Molecular Imaging (LMI), to U.S.-listed Lantheus Holdings. The news boosted Life Healthcare’s shares on the Johannesburg Stock Exchange, with a rise of over 3% by this morning.
The deal involves an upfront payment of $350 million, with potential additional payments of up to $400 million based on future sales of LMI products through 2034. Radiopharmaceuticals, which are cutting-edge cancer treatments delivering targeted radiation therapy to cancer cells, represent a promising area of medical innovation.
Life Healthcare acquired LMI in 2018 as part of its investment in the Alliance Medical Group. The sale is part of the company’s strategy to streamline operations by offloading certain assets. In a statement, Life Healthcare highlighted Lantheus’s unique position to further invest in and expand LMI’s portfolio of imaging products, ensuring the business reaches its full growth potential.
