Covidien, a global provider of healthcare products, has announced a definitive agreement to sell its radiopharmacies in the United States to Triad Isotopes, based in Orlando, Fla., according to a Covidien news release.
Triad operates a network of 26 nuclear radiopharmacies and six cyclotron facilities in the southeast United States, according to the release. 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, according to the release.
Completion of the transaction is subject to customary closing conditions, as well as receipt by Triad of necessary state and federal licenses and Triad's ability to secure financing for the transaction, with closing expected during the second calendar quarter of 2010, according to the release.
Read the release on Covidien's sale of radiopharmacies to Triad Isotopes.