Tuesday, March 18, 2008

Lantheus Medical Imaging launches from Bristol-Myers unit buyout

A medical imaging business purchased from drug firm Bristol-Myers Squibb Co. by a private equity group this year reports its new name is Lantheus Medical Imaging.

Formerly Bristol-Myers Squibb Medical Imaging, Lantheus said that Don Kiepert, former CEO of defunct Massachusetts biotech Point Therapeutics Inc., was recently named chief executive of the business. The company will continue to be based in North Billerica.

The renaming of the company and appointment of Kiepert come after New York-based Bristol-Myers sold the medical imaging business to Avista Capital Partners of New York and Houston for $525 million in January. The business provides imaging products used to diagnose cardiovascular conditions.

Lantheus said it employs 700 workers at operations in North Billerica, Canada, Puerto Rico and Australia.