Siemens Healthineers has agreed to acquire part of the radiopharmaceutical business for cancer diagnostics from the pharmaceutical company Novartis. According to the Financial Times, citing informed sources, the German medical technology company will pay more than 200 million euros for this transaction. Both companies have confirmed the transaction to the newspaper.

The business segment to be acquired includes the production and distribution of PET radiopharmaceuticals, which are used in positron emission tomography (PET) for the diagnosis of cancer. Siemens Healthineers, which is primarily based in the USA, sees the acquisition as a strategic opportunity to expand its activities in the European market.

This acquisition enables us to further strengthen our expertise and product offerings in PET diagnostics while simultaneously expanding our geographical reach," said a spokesperson for Siemens Healthineers according to the Financial Times.

The completion of the acquisition is planned by the end of the year. With this transaction, Siemens Healthineers underscores its ambitions to take a leading role in the field of cancer diagnostics and further strengthen its position in the medical technology industry.

The investment in the rapidly growing field of radiopharmaceuticals shows that Siemens Healthineers has recognized the importance of personalized medicine and precise diagnostics. The company could significantly strengthen its market position in Europe through this acquisition and benefit from the increasing demand for advanced diagnostic procedures.