Covidien (NYSE:COV) agreed to sell its 37 radiopharmacies in the U.S. to Triad Isotopes Inc. of Orlando, Fla., for an undisclosed amount.
The Mansfield, Mass.-based medical products conglomerate said it’s making the move after examining the proverbial “strategic alternatives” to focus on businesses with more growth potential. Covidien has 38 of the businesses worldwide, including one in London and the 37 in the U.S., under its Mallinckrodt brand.
The company said the U.S. radiopharmacies pulled in $180 million in net sales during fiscal 2009.
The deal, expected to close during the second quarter, will more than double Orlando, Fla.-based Triad‘s network of 26 radiopharmacies (the company also runs six cyclotrons in the Southeast) and expand its geographic footprint. Covidien has radiopharmacies, which dispense imaging agents containing radioactive compounds, in 18 states:
- California: Loma Linda, Los Angeles, San Francisco
- Colorado: Denver
- Connecticut: Milford
- Florida: Ft. Lauderdale, Miami, Orlando, St. Petersburg
- Georgia: Atlanta
- Illinois: Chicago, Crestwood
- Maryland: Beltsville
- Massachusetts: Boston
- Michigan: Detroit, Saginaw
- Minnesota: St. Paul / Minneapolis
- Missouri: Kansas City, St. Louis
- New Jersey: Pine Brook
- New York: Hicksville
- Ohio: Cincinnati, Cleveland, Columbus, Dayton, Toledo
- Oregon: Portland
- Pennsylvania: Altoona, Bethlehem, Harrisburg, Philadelphia, Pittsburgh, Wilkes-Barre
- Tennessee: Memphis
- Texas: Dallas, Ft. Worth, Houston