RMB advises Life Healthcare on landmark disposal of Life Molecular ImagingNew page title

Media Release

04 September 2025

RMB advises Life Healthcare on landmark disposal of Life Molecular Imaging to Lantheus Holdings Inc.

RMB served as the financial advisor, corporate broker, and transaction sponsor to Life Healthcare on the strategic sale of its radiopharmaceutical subsidiary, Life Molecular Imaging ("LMI"), to Lantheus Holdings Inc. ("Lantheus"), for a total consideration of up to $750 million (approximately R14 billion).

Since 2018, Life Healthcare has invested $66 million in LMI in commercialising Neuraceq®, its flagship product and groundbreaking Alzheimer’s disease diagnostic tracer, and advancing its pipeline of innovative radioisotope imaging agents.

As a highly respected industry partner with over 65 years of leadership in the field of radiopharmaceuticals, Lantheus is uniquely positioned as the custodian to invest in and grow LMI’s portfolio of imaging assets and ensure that the business meets its growth potential.

For Life Healthcare shareholders, the sale represents a remarkable return on investment unlocking value in the short-term through an initial payment of $350 million (approximately R6,500 million). It also comes at a time when Neuraceq® sales are increasing rapidly, highlighting the strategic timing of the transaction and providing Life Healthcare with the ability to participate in LMI’s future growth through potential milestone and royalty payments of up to $400 million (approximately R7,500 million). Additionally, Life Healthcare will retain the right to manufacture and distribute LMI products in Africa, ensuring continued access to cutting-edge radiopharmaceutical solutions in the region.

The sale of LMI serves to enhance the repositioning of Life Healthcare that began with the R21 billion sale of Alliance Medical Group in 2024, where RMB acted as joint financial advisor, corporate broker, and transaction sponsor. Post the completion of the sale of LMI, Life Healthcare will remain a focused, integrated healthcare services provider with robust capital allocation priorities and sustainable financial performance.

The transaction involved significant structuring complexity, having to accommodate various third parties, navigate multiple jurisdictions and will require regulatory clearances in the United States, Germany and the United Kingdom.

"RMB’s advisory team worked seamlessly across numerous elements of this transaction, facilitating a truly cross-border deal and exemplifying RMB’s commitment to delivering tailored solutions that drive transformative outcomes for our clients. Our team partnered with Life Healthcare and their other advisors on the transaction to deliver an outcome that aligns with Life Healthcare’s strategic objectives and returns value to shareholders" says Gareth Armstrong at RMB.

Life Healthcare’s shareholders stand to benefit from an attractive upfront cash payment with net proceeds of approximately $200 million (R3,400 million) intended to be returned to shareholders within 12 months of closing.

"By leveraging our deep sector expertise, trusted advisor relationships and strong execution capabilities, we continue to be involved in the leading, landmark transactions in the healthcare sector," Armstrong concludes.

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