Nordic Capital has acquired BWXT's medical isotopes business in a $800m deal, retaining a minority stake and supply arrangement. The transaction, expected to close by 2026, gives Nordic operational control while preserving BWXT's strategic link to the isotope supply chain. Nordic Capital, managing €39bn in assets, emphasized its decade-long focus on life sciences and pharmaceuticals.

Christian Hedegaard noted the sector's growth and BWXT's capabilities as key drivers. Radiopharmaceuticals are a sought-after subsector due to clinical advancements and isotope scarcity. BWXT, which tripled revenue since acquiring the business in 2018, is pivoting to nuclear power and security operations.

The deal structure allows BWXT upside exposure without direct management.