Canadian radioisotope firm Nordion has agreed to be acquired by sterilization services provider Sterigenics.
The transaction is worth approximately $727 million U.S., with Nordion shareholders receiving $11.75 per share in cash as part of deal.
Upon closing, Nordion would operate as a standalone company within Sterigenics, continue to use the Nordion name, and maintain its current headquarters in Ottawa, Ontario.
Through the acquisition, Sterigenics, which is owned by Chicago-based private equity firm GTCR, intends to ensure a stable, long-term supply of cobalt-60 for customers in Canada, North America, and other countries. Cobalt-60 is used in gamma sterilization.
The transaction is expected to close in the second half of this year.
