March 6, 2014 — Advanced Accelerator Applications, an international specialist in molecular nuclear medicine (MNM), announced it has entered into an agreement to acquire 100 percent of the shares of Imaging Equipment Ltd., a privately held U.K. distributor of nuclear medicine products and technologies.
As part of the transaction, IEL’s founding shareholders and top management will become shareholders in AAA.
The acquisition gives AAA its first direct presence in the United Kingdom and Ireland. AAA will also gain the rights in the United Kingdom and Ireland to IEL’s licensed SPECT radiopharmaceutical diagnostic product, IELMAG3, which is used to image the kidneys and urinary tract. At end of December 2013, IEL generated sales of $11 million, up 58 percent on the previous year.
Founded in 2001, IEL is a distributor of medical technologies in the United Kingdom and Ireland. The company focuses on molecular imaging and nuclear medicine diagnostics for pre-clinical and clinical imaging, and radionuclide therapy. In the United Kingdom, IEL is the exclusive distributor of AAA’s myocardial perfusion PET imaging agent, Cardiogen. Also its oncology theragnostic product in development, LuDotatate, which serves named patient basis and compassionate use programs.