Medical technology company GE HealthCare (Nasdaq:GEHC) confirmed on Monday that it has completed its acquisition of Sumitomo Chemical's 50% stake in Nihon Medi-Physics Co Ltd (NMP), giving it full ownership of the Tokyo-based radiopharmaceutical company.

NMP develops and manufactures proprietary and in-licensed radiopharmaceuticals used in single photon emission computed tomography (SPECT) and positron emission tomography (PET) molecular imaging to detect and diagnose diseases.

Founded in 1973, NMP generated JPY28.2bn (approximately USD183m) in revenue in 2023.

NMP's portfolio includes GE HealthCare radiopharmaceuticals used across neurology, cardiology and oncology. The acquisition allows NMP to enhance patient access to next-generation radiopharmaceuticals under the GE HealthCare umbrella.

Kevin O'Neill, president and CEO of GE HealthCare's Pharmaceutical Diagnostics segment, will assume the role of president of NMP. GE HealthCare expects the transaction to be neutral to adjusted EPS in year one and accretive thereafter.