Covidien is in the process of selling their radioactive pharmaceutical business to Triad Isotopes, INC in Orlando, FL>The deal is suppose to close early in the 2nd quarter.
Here is the PR summary
Covidien Announces Definitive Agreement to Sell U.S. Radiopharmacies
DUBLIN, Dec 17, 2009 (BUSINESS WIRE) -- Covidien (NYSE: COV), a leading global provider of healthcare products, today announced a definitive agreement to sell its radiopharmacies in the United States to Triad Isotopes, Inc. of Orlando, Florida. Triad operates a network of 26 nuclear radiopharmacies and six cyclotron facilities in the southeast United States. Financial terms of the transaction were not disclosed.
The decision to divest the network of 37 Mallinckrodt radiopharmacies was made following a thorough review and evaluation of a number of strategic alternatives. The decision is consistent with Covidien's strategy to streamline its portfolio and reallocate resources to its faster-growing, higher-margin businesses, where the Company has or can develop a global competitive advantage. The move allows the Company greater focus on continuing to develop and provide quality products that deliver better value and help to improve patient outcomes.
Hmmm very interesting...Also from Cardinal Health's Q3 financial filing:
Cardinal Health also operates the world’s largest network of nuclear pharmacies and is expanding its positron emission tomography (PET) agent manufacturing capabilities to support new drug development and the future of personalized medicine. In addition, about 200 hospitals across the U.S. outsource the management of their inpatient pharmacy to Cardinal Health because of our proven expertise and track record of improving efficiency and safety within inpatient pharmacies.
