SHINE announced that it has completed its acquisition of Lantheus' SPECT business, including the North Billerica, Massachusetts, SPECT manufacturing facility and its portfolio of diagnostic radiopharmaceuticals. The acquisition brings immediate revenue and operational scale in the $19 billion nuclear medicine market. SHINE also announced that Michael Rossi will join the company as CEO of SHINE SPECT USA, LLC.
The SPECT facility has manufactured TechneLite (Technetium Tc 99m Generator) for 55 years, serving hospitals and imaging centres across North America. The product portfolio also includes SPECT imaging agents Cardiolite (Kit for the Preparation of Technetium Tc99m Sestamibi for Injection) and NEUROLITE (Kit for the Preparation of Technetium Tc99m Bicisate for Injection), as well as Xenon Xe-133 Gas for pulmonary imaging. These products are used in millions of diagnostic imaging procedures annually for cardiac, pulmonary, thyroid, bladder, and other applications.
The acquisition integrates manufacturing expertise, customer relationships, and an established market position into SHINE's nuclear medicine business.
"The nuclear medicine supply chain needs to be modernised to keep up with patient needs," says Greg Piefer, founder and CEO of SHINE Technologies. "We're building that now, bringing new technology to bear across both diagnostic and therapeutic markets. This strengthens the entire isotope supply ecosystem and positions SHINE to deliver the reliability healthcare depends on."
To lead the integration and growth of the SPECT business, SHINE has named Michael Rossi as CEO of SHINE SPECT USA, LLC.
Most recently, Rossi served as President and CEO of Y-mAbs Therapeutics, where he led the company's growth and successful acquisition by SERB Pharmaceuticals. He was General Manager of the U.S. business for Advanced Accelerator Applications, a Novartis company, and served as GM of GE Healthcare's Global SPECT Segment. He also led Jubilant Radiopharma as President, building it into a vertically integrated radiopharmaceutical leader. Rossi currently serves on the Board of Directors for Nucleus RadioPharma.
