Curium has agreed to acquire Lantheus Holdings in an $8 billion deal that combines two major nuclear medicine companies serving oncology, neurology, and cardiology patients across over 70 countries. Lantheus shareholders will receive $102.50 per share in cash plus up to $12 per share in performance-based payments through 2030, with the transaction expected to close in the first half of 2027.
- Curium will pay $102.50 per share in cash plus up to $12 per share in Contingent Value Rights tied to commercial milestones through 2030
- Total deal value reaches up to $8 billion, combining two major players in nuclear medicine diagnostics and targeted therapy
- Combined company will serve oncology, neurology, and cardiology patients across more than 70 countries
- CVR payments depend on hitting sales milestones in prostate cancer diagnostics, neurology diagnostics, and cardiac ultrasound through 2030
- Transaction expected to close in first half of 2027 pending shareholder approval and regulatory clearance
Nuclear medicine company Curium has entered a definitive agreement to acquire Lantheus Holdings in a deal valued at up to $8 billion.
The combined company would serve oncology, neurology, and cardiology patients across more than 70 countries, spanning isotope production and manufacturing, diagnostic imaging, and targeted radionuclide therapy. Lantheus has built its commercial diagnostics business around products including Pylarify, a PET imaging agent for prostate cancer, and Definity, a cardiac ultrasound enhancing agent, according to the companies.
"Lantheus’ complementary business accelerates our strategy with a robust U.S. commercial infrastructure, a complementary F-18 isotope-based prostate diagnostics franchise and marks our entry in the U.S. market for diagnostic solutions targeting neurology and echocardiography," said Renaud Dehareng, chief executive officer of Curium Group, in a statement. "Together, we will provide meaningful theranostic options to patients from SPECT and PET diagnostics to targeted radioligand therapy across the globe. This combination unlocks an opportunity that neither company could achieve alone, as it positions us to reach significantly more patients and clinicians globally."
Under the agreement, Curium will acquire all outstanding Lantheus shares for $102.50 per share in cash at closing, plus up to $12.00 per share in non-transferable Contingent Value Rights (CVRs) tied to commercial performance milestones through 2030, for total consideration of up to $114.50 per share and an aggregate transaction value of up to $8 billion.
The CVRs are tied to sales milestones across three of Lantheus' product franchises through 2030: global prostate cancer diagnostics, global neurology diagnostics, and the Definity cardiac ultrasound business. Payments range from $1.00 to $2.00 per share depending on the threshold achieved within each franchise, up to the full $12.00 per share if all milestones are met. There is no guarantee any CVR payments will be made, the companies said.
Lantheus' Board of Directors unanimously approved the transaction, following a review process that included outreach to multiple third parties, according to the companies. The transaction is expected to close in the first half of 2027, subject to Lantheus shareholder approval and required regulatory approvals. Once completed, Lantheus will cease to be a publicly traded company. Until then, it will continue operating independently.
Curium was established in 2017 by investment firm CapVest Partners, which remains its controlling shareholder and last year completed a recapitalization valuing Curium at approximately $7 billion, according to the companies.
Lantheus is expected to report second-quarter 2026 financial results on August 6 and is suspending previously issued full-year 2026 guidance due to the pending transaction, the company said.
