B-FLEXION Takes Full Control of Radius Health in Strategic Buyout

BOSTON, Jan. 12, 2026 – In a significant move that underscores a deep commitment to the specialty biopharmaceutical sector, B-FLEXION Life Sciences announced today it will acquire the remaining 57% interest in Radius Health. The transaction consolidates ownership of the bone health-focused company, purchasing the shares currently held by private equity partners Patient Square Capital and Webster Equity Partners.

This deal marks the culmination of a successful three-year partnership that began in August 2022 when B-FLEXION and Patient Square took Radius Health private in a transaction valued at approximately $890 million. The move to full ownership signals B-FLEXION's confidence in Radius's growth trajectory, which has been overwhelmingly powered by its flagship osteoporosis treatment, TYMLOS® (abaloparatide).

The Private Equity Playbook Executed

The acquisition represents a textbook example of the private equity value-creation playbook in the life sciences industry. The initial 2022 take-private deal allowed Radius Health to operate outside the pressures of public markets, focusing on a strategic overhaul centered on commercial execution. Over the past three years, the company has sharpened its operational focus and significantly expanded the market penetration of TYMLOS®.

For Patient Square Capital and Webster Equity Partners, the sale of their stake represents a successful and timely exit. The transaction allows them to realize returns on their investment, validating their strategy of backing promising biopharma assets with strong commercial potential.

"We are proud of the transformation achieved at Radius over the past three years by Scott and his team expanding the impact of an important medicine," said Jim Momtazee, Managing Partner of Patient Square. "With our initial investment thesis playing out as expected and with a bright future ahead, it is a good time to deliver returns for our investors and consolidate ownership of the Company for its next stage of growth."

The consolidation under a single owner is a strategic step designed to streamline decision-making and align the company's long-term vision. With B-FLEXION at the helm, Radius is positioned to more nimbly pursue growth opportunities without the complexities of a multi-firm ownership structure. The transaction is expected to close by the end of the first quarter of 2026.

TYMLOS®: The Engine of Growth and Value

At the heart of this transaction is the remarkable success of TYMLOS®, an injectable treatment for postmenopausal women and men with osteoporosis at high risk for fracture. Since the 2022 take-private deal, Radius has concentrated its efforts on maximizing the commercial potential of this anabolic agent, which works by stimulating new bone formation.

"Over the past three years, Radius has undergone a significant transformation, sharpening our focus on commercialization and delivering sustained growth," said Scott Briggs, Chief Executive Officer of Radius Health. "We are grateful for the support our partners have provided, which has enabled us to deliver TYMLOS® to an increasing number of patients living with osteoporosis."

The osteoporosis market is a competitive but growing space, driven by an aging global population. The global market for abaloparatide injections alone was valued at over $600 million in 2024 and is projected to surpass $1 billion by 2032. TYMLOS® competes with other anabolic agents like Eli Lilly's Forteo (teriparatide) and Amgen's Evenity (romosozumab), as well as widely used antiresorptive therapies such as bisphosphonates and Amgen's Prolia (denosumab).

Radius's focused commercial strategy has successfully carved out a significant share of this market. The company's ability to drive sustained growth and build a profitable business was a key factor in B-FLEXION's decision to take full control.

"We are extremely proud of the momentum of what has become a strong, profitable business within our portfolio," noted Nithya Desikan, Operating Partner at B-FLEXION Life Sciences and a Member of the Board at Radius. "The team has built incredible commercial capabilities, and we look forward to continuing the success of TYMLOS® as it provides meaningful impact to the patients and families we serve."

A Deepened Commitment from B-FLEXION

B-FLEXION Life Sciences is part of the broader B-FLEXION group, the private entrepreneurial investment firm managing the interests of the Bertarelli family, who have a long and storied history in pharmaceuticals through their multi-generational development of Serono. This background informs B-FLEXION's "active owner" philosophy, which involves deep, long-term engagement with its portfolio companies.

The full acquisition of Radius is more than just a financial transaction; it is a strategic deepening of B-FLEXION's footprint in the life sciences. By taking sole ownership, the firm gains complete control over Radius's future direction. This could pave the way for accelerated investment in several key areas.

Future initiatives could include expanding the TYMLOS® franchise through new formulations or seeking approvals in additional international markets. Furthermore, with a streamlined ownership structure, B-FLEXION may direct Radius to strategically expand its pipeline. This could involve in-licensing new assets in bone health or related therapeutic areas that complement its existing commercial infrastructure, a shift from the company's pre-2022 strategy which saw it divest assets like the breast cancer drug elacestrant to sharpen its focus.

As a fully integrated part of the B-FLEXION portfolio, Radius Health enters a new chapter. The consolidation of ownership under a single, dedicated life sciences investor provides the stability and strategic alignment needed to build upon the commercial success of the past three years and continue its mission in the bone health market.