Melbourne-based biopharmaceutical giant Telix Pharmaceuticals announced its agreement to acquire RLS (USA) Inc, the only Joint Commission-accredited radiopharmacy network in the US, as part of a strategic move to expand its North American manufacturing and distribution capabilities.
This acquisition will allow Telix to enhance its production of PET, SPECT, and therapeutic radiopharmaceuticals while laying the groundwork for a next-generation radiometal production network.
The acquisition, which aligns with Telix’s strategy of vertical integration, will strengthen the company’s supply chain and distribution infrastructure, ensuring better control over product quality and delivery.
By leveraging RLS’ 31 licensed radiopharmacies located across major U.S. metropolitan areas, Telix plans to build a radiometal production and distribution network for key isotopes used in diagnostics and therapy.
The deal also includes over 100,000 square feet of licensed expansion space to meet increasing production demand.
In addition, Telix will deploy its ARTMS QUANTM Irradiation System (QIS) cyclotron technology across RLS’ network to facilitate the efficient production of radiometals, bolstering the company’s capacity to meet future demand.
The acquisition will broaden patient access to these critical radiopharmaceuticals, particularly in underserved regions, and enhance Telix’s ability to provide a reliable and scalable supply chain for both its own products and those of its partners.
Dr Christian Behrenbruch, Managing Director and CEO of Telix, emphasised the significance of the acquisition: “Our vision is to build a radiometal production and distribution network fit for the future. By combining the ARTMS platform and the RLS network, we can scale up the production of key isotopes and build a stable and consistent supply of PET and SPECT diagnostic tracers, along with therapeutic radiopharmaceuticals across the U.S. This investment ensures we can continue to deliver top-quality products to our partners and patients.”
RLS will operate as an independent unit within Telix Manufacturing Solutions (TMS), which also includes brands like ARTMS, IsoTherapeutics, and Optimal Tracers.
The acquisition will enhance Telix’s U.S. distribution network and complement its existing state-of-the-art GMP production facility in Belgium.
Stephen Belcher, CEO of RLS, expressed optimism about the partnership:
“We look forward to becoming part of the Telix Group ecosystem. This is a positive step for RLS, enabling us to expand our capabilities and continue delivering quality, reliability, and flexibility to our customers.”
Financial terms and closing conditions
The deal, valued at USD 230 million in upfront cash, includes additional deferred cash considerations of up to USD 20 million, contingent on meeting financial and operational milestones in the year following the transaction.
Telix will fund the acquisition using existing cash reserves, with closing expected in early 2025, pending regulatory and shareholder approvals.
