Tuesday, June 1, 2010, 9:49am EDT

Triad Isotopes completes acquisition

Triad Isotopes Inc. has closed on the purchase of the U.S. radiopharmacy network owned and operated by Covidien, a health care products company based in Dublin, Ireland. Under the terms of the agreement, Orlando-based Triad bought the 37 Mallinckrodt radiopharmacies located in the United States, with net sales of approximately $180 million in fiscal 2009.

With the acquisition, Triad becomes one of the largest radiopharmacy networks in the United States with more than $300 million in annual revenue and facilities located in 24 of the top 30 metropolitan areas.

“We are pleased to welcome the Mallinckrodt network of radiopharmacies and new team members to Triad. This transaction is the next logical step in our evolution, allowing us to build value for our shareholders while making a positive impact in the communities we serve,” said Dom Meffe, president and CEO of Triad Isotopes.

As a result of the transaction, within 12 months Triad Isotopes will increase the size of its total staff from 800 employees to more than 1,000, including doubling the size of its downtown home office as corporate support services are added in Orlando.

Triad Isotopes Inc. owns and operates 63 radiopharmacies and six cyclotron facilities nationwide. A radiopharmacy, also known as a nuclear pharmacy, compounds and distributes radiopharmaceuticals used primarily in imaging procedures for cardiac and cancer diagnosis. Cyclotrons are utilized to produce a short-lived positron-emitting isotope suitable for PET imaging technology used to assess tissue biochemistry.

Read more: Triad Isotopes completes acquisition - Orlando Business Journal

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