DUBLIN, Ohio — Cardinal Health added to its nuclear pharmacy business by acquiring the assets of Biotech, which has pharmacies in four states in the Southwest United States.
Biotech, based in Texas, operates nuclear pharmacies and makes Positron Emission Tomography (PET) cyclotrons, or radiopharmaceutical drugs. Cardinal Health operates 160 nuclear pharmacies and PET facilities, and by adding four pharmacies from Biotech it grows in Arizona, Nevada, New Mexico and Texas.
The expansion is important. PET drugs are only only good hours after they are created, and Columbus Business First notes Cardinal says it can reach 85 percent of all U.S. hospitals in less than three hours.
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“The Biotech acquisition helps demonstrate Cardinal Health’s commitment to advancing the future of molecular imaging, accelerates the build-out of our PET business and augments our leading network of nuclear pharmacies,” John Rademacher, president and general manager of Nuclear and Specialty Pharmacy Services for Cardinal Health, stated in the company’s release.
Radiopharmaceutical drugs are part of Cardinal’s healthcare supply chain services segment, which accounts for 90 percent of the $91 billion company’s revenue. Radiopharmaceutical drugs are grouped a subsection of the healthcare supply chain services segment that includes pharmaceutical and over-the-counter products. That subsection accounts for more than 90 percent of the revenue in the overall segment.