GE HealthCare Technologies is in advanced negotiations to acquire radiopharmaceutical developer Sofie Biosciences for approximately $1 billion. The companies may announce the deal as early as next week.
Sofie Biosciences specializes in short-lived radiopharmaceuticals used in positron emission tomography (PET) scans for cancer detection. The acquisition will expand GE HealthCare’s pharmaceutical diagnostics division and its supply of imaging substances.
This strategic move complements the company’s existing business of manufacturing PET scanners and medical imaging hardware. The deal targets a larger share of the market merging specialized drugs with advanced scanning technology.