GE HealthCare to buy Sofie Biosciences for $945 million, adding new PET tracer

GE HealthCare disclosed a $945 million deal to acquire Sofie Biosciences, a Dulles, Virginia company that manufactures and distributes radioactive PET tracers. By completing the transaction, GE will obtain U.S. rights to FAPI-74, a PET radiotracer in Phase III testing with potential applications across a wide range of cancers, while retaining its existing international rights. Sofie will continue to supply PET products from other manufacturers and act as a contract producer for third parties.

The acquisition expands GE's pharmaceutical diagnostics segment, which generated $2.9 billion in revenue last year and grew about 15 % in the second quarter, representing roughly 16 % of GE HealthCare’s total sales. Kevin O'Neill, head of the pharmaceutical diagnostics business, said the radiopharmaceuticals unit is the fastest-growing part of the company. The transaction is slated to close in the first half of 2027 and is projected to add to revenue in its first full year under GE ownership.