GE Healthcare announced today a manufacturing agreement with Advanced Accelerator Applications (AAA), an international player in molecular nuclear medicine. In combination with GE Healthcare´s existing TracerNET network the new partnership will provide additional capability of proprietary PET tracer production to a cumulative total of 20 sites and initial coverage in 11 countries. This agreement is GE Healthcare´s first step toward establishing a pan-European PET distribution network over the next few years.
"GE Healthcare has a global commitment to advancing clinical knowledge and providing innovations that transform patient management. It is key to ensure new PET tracers availability broadly," said Jonathan Allis, MI PET General Manager, GE Healthcare Medical Diagnostics. "Molecular imaging plays an important role in enabling confident medical decisions and is the basis of our business."
Currently, there are 15 tracers in various stages of development in GE Healthcare´s PET portfolio.
AAA is one of Europe´s leading independent third-party manufacturers of PET products. "We believe this agreement represents an important opportunity to accelerate our development plan of PET manufacturing facilities throughout Europe and it has the potential to become our widest offering PET registered manufacturing in Europe," said Stefano Buono President and CEO of AAA.
About Advanced Accelerator Applications
Advanced Accelerator Applications (www.adacap.com) is a European pharmaceutical company founded in 2002 to develop innovative diagnostic and therapeutic applications and products. AAA´s main research focus is in the field of Molecular Imaging and individualized therapy for patients with serious conditions (Personalized Medicine). AAA is a European leader in the production and commercialization of PET (Positron Emission Tomography) radiopharmaceuticals. AAA currently has 11 production and R&D facilities in five countries (France, Italy, Switzerland, Spain and USA) and around 170 employees. For the year ending December 31, 2010, AAA reported revenues of €29.7 million (+22% vs 2009), an EBITDA of €7.5 million (27.4% of net sales) and R&D investments in excess of €15 million.
About GE Healthcare:
GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our broad expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, drug discovery, biopharmaceutical manufacturing technologies, performance improvement and performance solutions services help our customers to deliver better care to more people around the world at a lower cost. In addition, we partner with healthcare leaders, striving to leverage the global policy change necessary to implement a successful shift to sustainable healthcare systems.
Our "healthymagination" vision for the future invites the world to join us on our journey as we continuously develop innovations focused on reducing costs, increasing access and improving quality around the world. Headquartered in the United Kingdom, GE Healthcare is a unit of General Electric Company (NYSE: GE). Worldwide, GE Healthcare employees are committed to serving healthcare professionals and their patients in more than 100 countries. For more information about GE Healthcare, visit our website at www.gehealthcare.com.
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