Through its subsidiary - Jubilant Pharma
Jubilant Life Sciences announced that Jubilant Pharma, a material wholly owned subsidiary of the Company, through one of its wholly owned subsidiaries, has signed an Asset Purchase Agreement with Triad Isotopes Inc. and its parent, Isotope Holdings, Inc. (Triad) to acquire substantially all of the assets which comprise the radiopharmacy business of Triad.The closing of the transaction is subject to customary closing conditions, including contract, regulatory and other approvals. The acquisition will be funded through JPL's internal accruals and is likely to be earnings accretive in the first full year of operations.
Triad recorded revenues in excess of US$ 225 mn in CY2016 with positive EBITDA and operates the second largest radiopharmacy network in the US with more than 50 pharmacies, distributing nuclear medicine products to the largest National GPOs, regional health systems, stand-alone imaging centres, cardiologists and hospitals. The acquisition is a strategic fit to Jubilant's niche nuclear medicine business and will provide Jubilant with direct access to hospital networks with ability to deliver more than 3 million patient doses annually through approx. 1,700 customers. The acquisition will facilitate Jubilant forward integrate in the in the radiopharmaceutical business, thereby helping it better directly serve healthcare providers and their patients with high quality radiopharmaceutical products.
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