Sotera Health LLC has entered into a definitive asset purchase agreement to sell the Medical Isotopes segment of its Nordion business to a subsidiary of BWX Technologies, Inc. (BWXT). This 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 non-medical applications has accelerated in response to increasing global regulatory demands and growing healthcare needs” said Michael Petras, chief executive officer of Sotera Health.
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, British Columbia.
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,” said Kevin Brooks, President of Nordion.
(Source: Sotera Health LLC)
