BWX Technologies, Inc. announced Wednesday that it has signed an agreement to acquire Sotera Health’s Nordion medical isotope business.
According to a news release sent out Wednesday by BWXT, The acquisition accelerates and lessens the risk of BWXT’s entry into the medical radioisotope market by adding licensed infrastructure, approximately 150 highly trained and experienced personnel, and two production centers to BWXT.
Subject to required Canadian and U.S. regulatory reviews and approvals, the acquisition of Sotera Health’s Nordion medical radioisotope business is expected to close by the end of 2018.
Nordion’s medical radioisotopes business is a leading global manufacturer and supplier of critical medical isotopes and radiopharmaceuticals for research, diagnostic and therapeutic uses.
BWXT expects to reduce capital expenditures by about $100 million. The company now expects capital expenditures of approximately $150 million in 2018.