BWXT Sells Medical Business to Nordic Capital for Up to $800 Million
BWX Technologies announced it has agreed to sell its medical business to Nordic Capital in a transaction valued at up to $800 million. BWXT will retain a minority ownership stake in the new entity.
BWX Technologies (NYSE: BWXT) has entered into a definitive agreement to sell its medical business segment to Nordic Capital, a private equity firm focused on healthcare investments. The transaction is valued at up to $800 million.
The sale encompasses BWXT Medical and Kinectrics’ stable medical isotopes business. This move is intended to allow BWXT to concentrate resources and capital on accelerating growth within its core operations, according to the company’s announcement.
Nordic Capital is noted for its experience in the healthcare sector and its understanding of the radiopharmaceutical industry. Following the transaction, BWXT will maintain a minority ownership interest in the divested business.
BWXT Technologies primarily operates in nuclear technology for the power, defense, and space industries. The divestiture of the medical business aligns with a strategic shift to enhance focus on its foundational areas.