Under AMG, Piramal Imaging changes name to Life Molecular Imaging

Under AMG, Piramal Imaging changes name to Life Molecular Imaging

par Gus Iversen, Editor in Chief | August 30, 2018
Business Affairs Molecular Imaging
With the completion of its acquisition by Alliance Medical Group (AMG), a division of Life Healthcare Group, Piramal Imaging is getting a name change to Life Molecular Imaging (LMI).

LMI is being run within the Alliance Medical Molecular Imaging division, according to a company statement.

"Becoming Life Molecular Imaging is an exciting step for us and provides a greater opportunity to realize our vision," said Ludger Dinkelborg, managing director of LMI. "The new corporate structure positions us perfectly to become the preferred partner for molecular imaging agents and innovative imaging solutions. We are happy to be able to retain our core personnel and expertise within a stronger dedicated organization."

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The move integrates research and development laboratories, a network of cyclotrons, radiopharmacies and imaging facilities to facilitate access to these combined services by clinicians, academia and industry, the company said in its statement.

In early July, the completion of the deal was announced. It included subsidiaries Piramal Imaging Ltd. and Piramal Imaging GmbH, and the firm's U.S. business.

"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,” Howard Marsh, managing director of molecular imaging at AMG, said at the time, noting that the deal will permit the offering of a wider range of services, as well as development, production and imaging services “for new radiopharmaceuticals under the Life Healthcare brand."

AMG, which provides diagnostic imaging services and produces and distributes radiopharmaceutical products, has more than 60 PET/CT service locations and 10 radiopharmacies that make radiopharmaceuticals used throughout Europe.

Piramal Imaging is known for developing and commercializing molecular imaging agents used to address neurological, oncological, and cardiovascular diseases. The company was formed in 2012 as part of a deal to buy the molecular imaging research and development portfolio of Bayer Pharma AG. Its Neuraceq – florbetaben F18 – is approved for use in the diagnosis of Alzheimer's disease.

“Being part of the Life Healthcare Group,” said Dinkelborg, “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."

This move, stated the companies, will boost the availability of new imaging agents in clinics, while supporting the research community and pharma industry “by providing integrated biomarkers and imaging facilities in their clinical trials.”

In 2016, Life Healthcare acquired 95 percent of U.K.-based Alliance Medical Group, with senior management at Alliance taking the other five percent.

Life Healthcare CEO André Meyer said at that time that over the past few years, the firm had expanded into mental health, acute physical rehabilitation, renal dialysis and oncology, and that the deal represented “the entry into diagnostics as a natural evolution” of this strategy.

“In addition to investing in a growing developed market, the acquisition provides Life Healthcare with an opportunity to diversify into attractive new geographies with a strong basket of currencies. The transaction will also facilitate the transfer skill and expertise between our operations in India and Poland,” he noted at the time.

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