Telix Pharmaceuticals Limited (ASX: TLX, Nasdaq: TLX) has finalized the acquisition of RLS (USA) Inc., America’s only Joint Commission-accredited radiopharmacy network. This move significantly enhances Telix’s presence in the United States and supports its strategic goal of creating an integrated radiopharmaceutical ecosystem.
Key Highlights
- Expansion of U.S. Operations
- The acquisition includes a network of over 30 radiopharmacies, providing access to Telix’s radiopharmaceuticals and those from other manufacturers.
- RLS adds over 100,000 square feet of licensed space, paving the way for a next-generation radiometal production network.
- Strategic Integration
- RLS will continue as a standalone business under Telix Manufacturing Solutions (TMS), joining key Telix brands like ARTMS, IsoTherapeutics, and Optimal Tracers.
- The acquisition strengthens Telix’s distribution and operational capabilities, including in-house cyclotron manufacturing via the ARTMS QUANTM Irradiation System™.
- Enhanced Product Reach
- The integration enables Telix to accelerate the delivery of diagnostic and therapeutic radiopharmaceuticals, expanding access for U.S. patients.
Executive Commentary
Dr. Christian Behrenbruch, Telix CEO, stated:
“The RLS network significantly boosts our capabilities, positioning us as a leader in radiopharmaceuticals. With RLS’s expertise, Telix is well-equipped to deliver innovative products to more patients across the U.S.”
Stephen Belcher, RLS CEO, added:
“Joining Telix allows us to combine our 40-year legacy in radiopharmaceuticals with Telix’s growing North American footprint. Together, we aim to transform patient care with cutting-edge solutions.”
Acquisition Terms
- Purchase Price:
- Upfront cash: US$230 million, with adjustments for cash, debt, transaction costs, and working capital.
- Deferred consideration: Up to US$20 million, contingent on achieving financial and operational milestones over the next year.
- Funding:
- The acquisition was funded from Telix’s existing cash reserves.
About Telix Pharmaceuticals
Telix is a global biopharmaceutical company specializing in therapeutic and diagnostic radiopharmaceuticals. Headquartered in Melbourne, it operates in the U.S., Canada, Europe, and Japan.
Key Products:
- Illuccix® (68Ga PSMA-11): Approved in the U.S., Australia, Canada, and Europe for prostate imaging.
- Scintimun®: Approved in Europe and Mexico for imaging bone infections.
- SENSEI® Gamma Probe: FDA-cleared and CE-marked for detecting sentinel lymph nodes in surgery.
The completion of this acquisition marks a major milestone for Telix, reinforcing its position as a leader in radiopharmaceutical innovation and expanding its ability to deliver life-changing treatments to patients globally.
