GE HealthCare to Acquire SOFIE Biosciences, Establishing a 'Final Mile' Footprint for PET Radiopharmaceutical Supply in the U.S.

GE HealthCare (Nasdaq: GEHC) today announced a definitive agreement to acquire SOFIE Biosciences, a leading U.S.-based CMO for PET radiopharmaceuticals, from Trilantic North America, for a purchase price of $945 million paid in cash. The transaction is expected to close in the first half of 2027, subject to closing conditions, including regulatory approvals, at which time SOFIE Biosciences will become part of GE HealthCare’s PDx segment.

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The acquisition of SOFIE Biosciences establishes a footprint for GE HealthCare in the time-critical ‘final mile’ of U.S. PET radiopharmaceutical supply, while also enabling PDx to participate in other high growth areas outside its own product portfolio. With a U.S. network of 15 CMO sites operating 21 cyclotrons, and a theranostics-focused Contract Development and Manufacturing Organization (CDMO) site, this acquisition broadens GE HealthCare's footprint in the U.S. radiopharmaceutical industry, while driving reliable patient access to novel radiopharmaceuticals. It also further enables GE HealthCare’s ability to provide solutions along every step of the theranostics pathway, from cyclotrons to imaging technology, digital workflow tools and radiotherapeutics infrastructure.

“The PET radiopharmaceutical market is expanding rapidly with the introduction of innovative radiotracers and advances in precision care, including the growing adoption of targeted therapies. As part of GE HealthCare, SOFIE Biosciences is expected to grow in the low double digits, and enables us to participate across the radiopharmaceutical value stream, meeting customer demand through a mix of GE HealthCare owned and partner facilities. SOFIE Biosciences has a highly skilled team with deep expertise serving U.S. customers, including manufacturing our Flyrcado™ (flurpiridaz F18 injection) product,” said Kevin O'Neill, President & CEO of the PDx segment at GE HealthCare. “We will leverage our scale and expertise in radiopharmaceutical manufacturing across the U.S., Europe and Japan to further invest in and grow SOFIE Biosciences, helping improve patient access, strengthen reliability of supply, and support the next generation of precision care products."

PET radiopharmaceuticals are used in precision medicine to visualize metabolic and molecular activity and, increasingly, to deliver targeted therapies across a range of disease areas. F18 labeled PET radiopharmaceuticals have a 110-minute half-life, with PET CMOs playing a crucial role in enabling timely and reliable patient access, both to existing and pipeline products. Industry-wide, the radiopharmaceutical pipeline is growing rapidly, with approximately 20 PET radiotracers and over 30 radiotherapeutics currently under development.² These include SOFIE Biosciences’ Phase III F18 Fibroblast Activation Protein Inhibitor (FAPI) asset, FAPI-74, for which GE HealthCare already holds outside-of-U.S. rights. FAPI has the potential to further expand an already fast-growing global PET imaging market, and is showing strong potential for diagnostic and theranostic use across a range of oncologic and non-oncologic indications.

GE HealthCare will continue to drive and expand access to its existing proprietary F18 radiopharmaceutical products, while advancing its pipeline of new products, both through SOFIE Biosciences, and PDx’s other established CMO partners across the U.S.

Serving SOFIE Biosciences’ Customers

Following the transaction close, SOFIE Biosciences will continue to operate as an independent manufacturing partner to its customers, supplying its existing product portfolio, including products from other leading radiopharmaceutical providers.

Patrick Phelps, SOFIE Biosciences co-founder, President & CEO, said, “As demand continues to increase for F18 products, and pipelines for new diagnostics and therapeutics continue to expand, joining GE HealthCare marks an exciting step in our journey as a leading U.S. CMO. With Trilantic North America’s support, we have significantly expanded our capabilities and scale, and we share GE HealthCare’s ambition to improve patient outcomes by delivering on the promise of radiopharmaceuticals as we look ahead to our next phase of growth.”

Ted Rosenwasser, Partner, Trilantic North America, said, "We are incredibly proud of what Patrick and the SOFIE Biosciences team have accomplished during our partnership. SOFIE Biosciences has grown significantly, investing in its network and manufacturing capabilities to help meet growing demand and enable increased and reliable patient access to critical products. GE HealthCare's legacy and global expertise make it a natural partner to support SOFIE Biosciences’ continued growth and help expand access for U.S. patients to novel diagnostic and therapeutic radiopharmaceuticals.”

GE HealthCare’s Pharmaceutical Diagnostics segment is a global leader in imaging agents used to support 140 million procedures in 2025, equivalent to four patient procedures every second. For more than 40 years, GE HealthCare's imaging agents have been routinely used across care pathways to support diagnosis.

Financial Benefits

GE HealthCare estimates that the transaction will be accretive to revenue growth, Adjusted earnings before interest and taxes margin* and Adjusted earnings per share* in the first full year of ownership.

Advisors

For GE HealthCare, BofA Securities, Consello Financial LLC and Solomon Partners Securities LLC served as financial advisors.

Forward-Looking Statements

This release contains forward-looking statements. These forward-looking statements might be identified by words, and variations of words, such as “will,” “expect,” “may,” “would,” “could,” “plan,” “believe,” “anticipate,” “intend,” “estimate,” “potential,” “position,” and similar expressions. These forward-looking statements may include, but are not limited to, statements about the transaction, the completion and expected results of the transaction including the financial performance of the business, industry positioning, and GE HealthCare Technologies Inc.’s (“the Company’s”) business, products, growth opportunities, and strategy. These forward-looking statements involve risks and uncertainties, many of which are beyond the control of the Company. Factors that could cause the Company’s actual results to differ materially from those described in its forward-looking statements include, but are not limited to, the conditions to the completion of the transaction may not be satisfied; closing of the transaction may not occur or may be delayed; the Company may be unable to achieve the anticipated benefits of the transaction; operating costs and business disruptions (including, without limitation, difficulties in maintaining relationships with employees, customers, and suppliers) may be greater than expected; the Company may assume unexpected risks and liabilities; and completing the transaction may distract the Company’s management from other important matters. Other factors that may cause such a difference also include those discussed in the "Risk Factors" section of the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission and any updates or amendments it makes in future filings. There may be other factors not presently known to the Company or which it currently considers to be immaterial that could cause the Company’s actual results to differ materially from those projected in any forward-looking statements the Company makes. The Company does not undertake any obligation to update or revise its forward-looking statements except as required by applicable law or regulation.

About GE HealthCare Technologies Inc.

GE HealthCare is a leading global healthcare solutions provider of advanced medical technology, pharmaceutical diagnostics, and AI, cloud and software solutions that help clinicians tackle the world’s most complex diseases. Serving patients and providers for 130 years, GE HealthCare is delivering bold innovations designed for the next era of medicine across its Advanced Imaging Solutions, Pharmaceutical Diagnostics and Patient Care Solutions segments to help clinicians deliver more personalized, precise patient care. We are a $20.6 billion business with approximately 54,000 colleagues working to create a world where healthcare has no limits.

GE HealthCare is proud to be among 2026 Fortune World’s Most Admired Companies™.

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About SOFIE Biosciences

SOFIE Biosciences' mission is to improve patient outcomes by developing and delivering molecular diagnostics and therapeutics (Theranostics). With a robust radiopharmaceutical production and distribution network, mature contract manufacturing services, and high-value Theranostic intellectual property, SOFIE Biosciences is delivering on the promise of radiopharmaceuticals. For more information, please visit www.sofie.com or info@sofie.com.

About Trilantic North America

Trilantic Capital Management L.P. ("Trilantic North America") is a growth-focused middle market private equity firm focused on control and significant minority investments in North America. Trilantic North America's primary investment focus is in the business and consumer services sectors. Since inception, Trilantic North America has managed seven private equity fund families, representing $11.6B in raised capital commitments. For more information, visit www.trilanticnorthamerica.com.

*Non-GAAP financial measure; see our earnings release dated July 29, 2026 for definitions.

References:

1. https://researchintelo.com/report/fapi-pet-imaging-market
2. MEDraysintell Report, 2025 Edition

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