GE Health Care Technologies is in talks over a $$1bn deal to buy Sofie Biosciences, a private equity-backed company specializing in radioactive chemicals used in cancer scans. The potential takeover could be announced as soon as next week, marking GE Health Care's second sizeable acquisition since its 2023 split from General Electric. Sofie is developing radioisotopes for PET scans to detect gastro-oesophageal and pancreatic cancers, and would bolster GE Health Care's pharmaceutical diagnostics division.

The company is largely owned by its founders, management, and private equity group Trilantic, which bought a 25.8% stake in 2024 valuing the business at up to $550mn. GE Health Care, one of the largest manufacturers of MRI, CT and PET scanners, has seen shares rise just 12% since its January 2023 spin-off, giving it a market value of $28.8bn, far behind GE Vernova's $254bn valuation. The acquisition comes as GE Health Care conducts a strategic review of its patient care solutions division.