Triad Isotopes, Inc, headquartered in Orlando, Florida, closed the previously announced acquisition of the US radiopharmacy network owned and operated by Covidien, a leading global healthcare products company based in Dublin, Ireland. This transaction continues Triad Isotopes' aggressive growth and investment in the radiopharmaceutical industry.

Under the terms of the agreement, Triad has acquired the 37 Mallinckrodt radiopharmacies located in the United States, with net sales of approximately $180 million in fiscal 2009. With this acquisition, Triad becomes the second largest radiopharmacy network in the United States with over $300 million in annual revenue, strengthening a national footprint and adding facilities located in 24 of the top 30 metropolitan areas in the United States.

"We are pleased to welcome the Mallinckrodt network of radiopharmacies and new team members to Triad. This transaction is the next logical step in our evolution allowing us to better serve our customers and build value for our shareholders while making a positive impact in the communities we serve," said Dom Meffe, president & CEO of Triad.

As a result of the transaction, within 12 months Triad will increase the size of its total staff, from approximately 800 employees to over 1,000, including doubling the size of its downtown home office as corporate support services are added to Orlando.

Triad Isotopes owns and operates 63 radiopharmacies and 6 cyclotron facilities located nationwide. A radiopharmacy, also known as a nuclear pharmacy, is a pharmacy that compounds and distributes radiopharmaceuticals used primarily in imaging procedures for cardiac and cancer diagnosis.