LYNCHBURG, Va. – BWX Technologies, Inc. (NYSE:BWXT) announced today that it has completed the acquisition of Sotera Health’s Nordion medical isotope business.
The acquisition adds approximately 150 highly trained and experienced personnel, two specialized production centers and a uniquely licensed infrastructure that will de-risk BWXT’s entry into the medical radioisotope market.
“We are extremely pleased to complete this strategic acquisition,” said Rex D. Geveden, BWXT’s president and chief executive officer. “With Nordion’s medical isotopes business, we inherit a growing portfolio of radioisotope products. Equally important, we will employ the Nordion medical isotopes team, infrastructural assets and channels to market to launch our previously announced Mo-99 product line and a number of future radioisotope-based imaging and therapeutic products.”
BWXT’s medical isotopes business will be led by Tom Burnett, vice president and general manager of BWXT ITG Canada, Inc. The business will be included in BWXT’s Nuclear Power Group segment, which is led by John MacQuarrie, president of BWXT Canada Ltd.
Nordion’s medical radioisotopes business has been a leading global manufacturer and supplier of critical medical isotopes and radiopharmaceuticals for research, diagnostic and therapeutic uses. Its customers include radiopharmaceutical companies, hospitals and radiopharmacies. In addition to supporting the new Mo-99 product line, the medical isotope and contract manufacturing operations included in this acquisition will continue to operate at the high level of service their customers have come to expect with no disruption to current operations.
BWXT now employs about 1,250 people in Ontario and British Columbia, Canada.