Jubilant Life Sciences Ltd. successfully completed the acquisition of the US radiopharmacy business of Triad Isotopes Inc. This acquisition is funded through JPL's internal accruals with no increase in debt for Jubilant. Triad recorded revenues in excess of USD 225 million in CY2016 with positive earnings before interest, tax, depreciation, and amortization (EBITDA), and the acquisition is likely to be earnings accretive.
Triad operates the second largest radiopharmacy network in the United States with more than 50 pharmacies. The acquired radiopharmacies will continue to operate independently under the brand name of Triad Isotopes. The acquisition is a strategic fit to the niche nuclear medicine business and will provide Jubilant with direct access to hospital networks with the ability to deliver more than three million patient doses annually through approximately 1700 customers. The company intends to maintain and expand Triad's distribution network.