Telix Pharmaceuticals to acquire RLS

Telix Pharmaceuticals and RLS, America’s only Joint Commission-accredited radiopharmacy network distributing PET1, SPECT2 and therapeutic radiopharmaceuticals, announced an agreement by the company to acquire RLS from its parent company, RLS Group. The acquisition significantly expands Telix’s North American manufacturing footprint and establishes the basis of a next generation radiometal production network to benefit Telix and select strategic commercial partners, the company said. The purchase price comprises upfront cash consideration of $230M before adjustments for cash and cash equivalents; debt and debt equivalents; transaction expenses; and working capital, and deferred cash consideration up to a maximum of $20M, contingent on achievement of certain milestones related to demonstration of accretive financial and operational performance during the four-quarters following closing. The acquisition and related transaction costs are expected to be funded from existing cash reserves.