LONDON, June 26, 2018 /PRNewswire-iReach/ — We are pleased to announce that Alliance Medical Group (“AMG”) has reached an agreement to acquire all businesses associated with Piramal Imaging SA, including its subsidiaries Piramal Imaging Ltd, Piramal Imaging GmbH (“Piramal Imaging”) and the US business.

AMG, a member of the Life Healthcare Group, is recognized as a valued partner for health systems providing essential and affordable diagnostic imaging services along with the manufacture and distribution of radiopharmaceutical products with a vision to be a market leading, internationally diversified healthcare provider focused on delivering sustainable, high quality and cost effective healthcare. AMG is Europe’s leading independent provider of imaging services, delivering medical imaging services in UK, Germany, Ireland, Italy, Spain, Norway, Finland and the Netherlands.

Piramal Imaging is dedicated to the development and global commercialization of innovative molecular imaging agents addressing major unmet clinical needs in neurological, oncological, and cardiovascular diseases. Piramal’s Neuraceq (florbetaben F18) is a globally approved and commercialized product for assisting in the diagnosis of Alzheimer’s disease.

Piramal Imaging will be rebranded and be combined with Life Radiopharma under the Life Brand. This integrated Molecular Imaging business, having cyclotrons, radiopharmacies and imaging will allow physicians greater access to novel imaging agents; and will efficiently serve the research community and pharma industry by providing integrated biomarkers and imaging facilities in their clinical trials. In addition, preclinical and clinical contract radiopharmaceutical research activities are provided from its laboratories and offices in Berlin, Germany, and will offer ready access of new tracers into the clinic through AMG/Life’s growing network.

Howard Marsh, Managing Director Molecular Imaging at AMG said “The acquisition of Piramal Imaging further extends our Molecular Imaging capabilities, supplementing both our PET/CT scanning and radiopharmacy facilities services across Europe and giving us access to new markets. We are now able to offer a wider range of services to meet our customers’ needs, including the development, production and imaging services for new radiopharmaceuticals under the Life Healthcare brand.”

Ludger Dinkelborg, Director of the Board, Piramal Imaging SA said: “Being part of the Life Healthcare Group, ensures seamless continuity in our current business. The combination provides us more opportunities to move forward with important products, such as Neuraceq for beta-amyloid imaging and our investigational tracer PI-2620 for tau imaging in patients with neurocognitive decline, and to develop our research pipeline.”

About Neuraceq™ (florbetaben 18F)

Indication and Important Safety Information

Neuraceq is a radiopharmaceutical for diagnostic use indicated for Positron Emission Tomography (PET) imaging of beta-amyloid neuritic plaque density in the brains of adult patients with cognitive impairment who are being evaluated for Alzheimer’s disease (AD) and other causes of cognitive impairment. Neuraceq should be used in conjunction with a clinical evaluation. A negative scan indicates sparse or no plaques, which is not consistent with a diagnosis of AD. For the limitations in the interpretation of a positive scan, please refer to the approved product information.

The efficacy of florbetaben (18F) for predicting development of AD or monitoring response to therapy has not been established. Neuraceq images should only be interpreted by readers trained in the interpretation of PET images with florbetaben (18F). Following training, image reading errors (including false positive or false negative interpretation of Neuraceq images) may still occur. Administration of Neuraceq, as with other radiopharmaceuticals, results in a low amount of ionizing radiation exposure and appropriate safety precautions should be taken to avoid unintentional radiation exposure. The most common side effects observed in clinical trials were injection site erythema and injection site pain.

About PI-2620

PI-2620 is an 18F-labeled investigational PET tracer that was discovered in a research collaboration between Piramal Imaging and AC Immune, a Swiss-based clinical stage biopharmaceutical company focused on neurodegenerative diseases. Piramal Imaging obtained the exclusive, world-wide license for research, development and commercialization of tau PET tracers generated within the discovery program, which is continued under AMG/Life.

About Piramal Imaging SA

Piramal Imaging SA, formerly a division of Piramal Enterprises, Ltd, was formed in 2012 with the acquisition of the molecular imaging research and development portfolio of Bayer Pharma AG. By developing novel PET tracers for molecular imaging, Piramal Imaging is focusing on a key field of modern medicine. Piramal Imaging strives to be a leader in the Molecular Imaging field by developing innovative products that improve early detection and characterization of chronic and life threatening diseases, leading to better therapeutic outcomes and improved quality of life. Please visit www.piramalimaging.com.

About Alliance Medical

Alliance Medical, a Division of Life Healthcare Group, is Europe’s leading diagnostic and molecular imaging services provider delivering high quality diagnostic solutions in partnership with public and private organisations. It provides PET/CT services at over 60 locations and operates 10 radiopharmacies producing a range of Radiopharmaceuticals for PET/CT imaging across Europe, including the National PET/CT Contract in England which provides PET/CT scans for 60% of the English population. Please visit www.alliancemedical.com.

About Life Healthcare Group

Established in 1983, The Life Healthcare Group has more than 32 years’ experience in the private healthcare and hospital industry. With headquarters in Johannesburg, South Africa, the Group is a listed company on the Johannesburg Stock Exchange. The company’s primary business is private acute hospital care with 64 healthcare facilities in seven of South Africa’s nine provinces and one hospital in Botswana, as well as providing services for acute physical rehabilitation, mental health, renal dialysis and oncology. The Group includes an international presence through Alliance Medical Group in the UK and Europe, Scanmed S.A. in Poland and Max Healthcare in India. The three cornerstones of the Life Healthcare Group business and its commitment to patients are, Life, Health and Care. For additional information about the Group, please visit www.lifehealthcare.co.za.

Media Contact: Nicole Fletcher, Piramal Imaging, +1 (857) 202-1122, nicole.fletcher@piramal.com

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SOURCE Piramal Imaging