Lantheus Finalizes Divestiture of Imaging Unit to Sharpen Strategic Focus

2026-01-02 companies

Bedford, Friday, 2 January 2026.
Lantheus pivots toward high-growth PET diagnostics by closing the sale of its SPECT unit today, handing SHINE Technologies North America’s largest facility for manufacturing medical isotopes.

Consolidating the Shift to Precision Diagnostics

Today, January 2, 2026, Lantheus Holdings, Inc. (NASDAQ: LNTH) officially completed the sale of its single photon emission computed tomography (SPECT) business to SHINE Technologies, LLC [1]. This transaction encompasses a significant portfolio of diagnostic agents, specifically TechneLite, NEUROLITE, Xenon Xe-133 Gas, and Cardiolite [1]. Beyond the intellectual property and product lines, the divestiture includes the transfer of the specific portion of the North Billerica, Massachusetts campus dedicated to SPECT manufacturing, as well as the company’s SPECT-related operations in Canada [1]. This move formally decouples the legacy SPECT operations from Lantheus’s forward-looking strategy, allowing the Bedford-based healthcare technology company to concentrate its capital and operational focus on its positron emission tomography (PET) radiodiagnostics and microbubbles portfolio [1][5].

Strategic Realignment and Portfolio Optimization

The rationale behind this divestiture is rooted in a strategic pivot toward high-growth areas of the radiopharmaceutical market. Mary Anne Heino, President and CEO of Lantheus, emphasized that this transaction enables the company to sharpen its focus on strategic priorities and advance its pipeline of innovative precision diagnostics and therapeutic agents [4]. The company’s remaining commercial portfolio includes key products such as PYLARIFY and DEFINITY, alongside a pipeline featuring NAV-4694, a B-amyloid PET imaging agent [2]. Conversely, for SHINE Technologies, the acquisition represents a major expansion of industrial capacity. Greg Piefer, Founder and CEO of SHINE, noted that through this acquisition, his firm has secured the largest SPECT manufacturing facility in North America, a critical asset for their goal of becoming a leading provider of medical isotopes [4].

Market Dynamics and Financial Outlook

This corporate restructuring occurs against a backdrop of robust projected growth in the broader sector. The therapeutic radioisotope market is forecast to expand at a compound annual growth rate (CAGR) of 11.5% between 2025 and 2033, driven by ongoing innovation and digital integration [4]. In the equity markets, Lantheus has seen sustained attention from analysts leading up to this closing. On December 31, 2025, Lantheus stock closed at $66.55 [2]. Shortly before the year ended, on December 18, 2025, Truist Securities adjusted its price target for the company to $82 while maintaining a Buy rating [2]. This price target suggests a potential upside of 23.216% relative to the closing price on the last trading day of 2025.

Transaction Advisors

The execution of this complex divestiture involved multiple advisory firms to navigate the financial and regulatory landscape. Solomon Partners Securities, LLC acted as the exclusive financial advisor to Lantheus regarding the transaction [1]. Legal counsel was provided by Foley Hoag LLP and Ropes & Gray LLP, while Ernst & Young LLP served as the financial and tax advisor [1]. With the deal now closed, Lantheus effectively exits the manufacturing of TechneLite generators and associated SPECT agents, fully committing to its role as a leader in the PET and microbubble segments [1].

Sources

Divestiture Radiopharmaceuticals