GE HealthCare to Acquire SOFIE Biosciences for $945 Million in Cash

GE HealthCare said on Oct. 5 that it has signed a definitive agreement to acquire SOFIE Biosciences, a U.S. contract manufacturer of PET radiopharmaceuticals, from private equity firm Trilantic North America for a purchase price of $945 million paid in cash, according to the announcement, which SOFIE also published on its own website.

The companies expect the transaction to close in the first half of 2027, subject to closing conditions that include regulatory approvals. At that point SOFIE will become part of GE HealthCare's Pharmaceutical Diagnostics (PDx) segment, the unit that sells the company's imaging agents.

A network built around a short half-life

SOFIE operates a U.S. network of 15 contract manufacturing sites running 21 cyclotrons, the particle accelerators used to produce radioactive isotopes, along with a separate contract development and manufacturing site focused on theranostics. The companies framed the deal around what they called the "final mile" of PET radiopharmaceutical supply.

The announcement notes that F18-labeled PET radiopharmaceuticals have a 110-minute half-life, which is why regional contract manufacturers play a central role in getting doses to imaging sites on time. GE HealthCare said the purchase lets PDx take part in high-growth areas outside its own product portfolio, and it plans to keep working with its other established contract manufacturing partners.

SOFIE will continue to operate as an independent manufacturing partner after the deal closes and will keep supplying its existing customers, including products made for other radiopharmaceutical companies, the announcement said. SOFIE already manufactures GE HealthCare's cardiac PET agent Flyrcado (flurpiridaz F18 injection).

"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," said Kevin O'Neill, president and CEO of the PDx segment.

U.S. rights to FAPI-74

The agreement also brings GE HealthCare the U.S. rights to FAPI-74, an F18 fibroblast activation protein inhibitor that SOFIE is developing as a PET imaging agent and that the companies describe as being in Phase III. GE HealthCare already held the rights to the agent outside the U.S. The announcement describes FAPI-74 as having pan-cancer imaging potential; it is an investigational agent and has not been approved.

The companies cited an industry pipeline of roughly 20 PET radiotracers and more than 30 radiotherapeutics in development. GE HealthCare said its PDx segment's imaging agents supported 140 million procedures in 2025.

Patrick Phelps, SOFIE's co-founder, president and CEO, said joining GE HealthCare "marks an exciting step in our journey as a leading U.S. CMO." Ted Rosenwasser, a partner at Trilantic North America, said SOFIE had grown significantly during the firm's ownership, investing in its network and manufacturing capabilities.

Financial expectations

GE HealthCare estimated that the transaction will be accretive to revenue growth, adjusted EBIT margin and adjusted earnings per share in the first full year of ownership. It did not disclose SOFIE's current revenue. BofA Securities, Consello Financial and Solomon Partners Securities served as GE HealthCare's financial advisors, according to the announcement.

Until the deal closes, SOFIE remains a separate company owned by Trilantic North America.