SHINE Forges Nuclear Medicine Powerhouse with Lantheus Acquisition

JANESVILLE, Wis. – January 02, 2026 – In a landmark move poised to reshape the U.S. medical isotope landscape, SHINE Technologies announced today the completion of its acquisition of Lantheus' Single Photon Emission Computed Tomography (SPECT) business. The deal includes a key manufacturing facility in North Billerica, Massachusetts, and a portfolio of well-established diagnostic radiopharmaceuticals, immediately providing the fusion-tech company with significant revenue and operational scale in the $19 billion global nuclear medicine market.

This strategic acquisition marks a pivotal step in SHINE's mission to vertically integrate and secure the often-fragile supply chain for critical medical ingredients. To steer this new chapter, the company has appointed thirty-year industry veteran Michael Rossi as the CEO of the newly formed subsidiary, SHINE SPECT USA, LLC.

A Calculated Move for Market Integration

The acquisition is far more than a simple asset transfer; it represents a calculated fusion of established market presence with next-generation production technology. The North Billerica facility has been a cornerstone of North American nuclear medicine for 55 years, producing TechneLite® (Technetium Tc 99m Generator), the most widely used medical isotope generator in the world. Its portfolio also includes vital SPECT imaging agents like Cardiolite® and NEUROLITE®, used in millions of diagnostic procedures annually to assess cardiac, neurological, and other conditions.

By absorbing this established operation, SHINE gains not only an immediate revenue stream but also deep-seated customer relationships with hospitals and imaging centers across the continent. This move positions the Janesville-based company to compete more directly with industry giants such as Curium, Cardinal Health, and GE HealthCare. The integration of a proven manufacturing and distribution network provides a powerful commercial outlet for the advanced isotopes SHINE plans to produce.

"The nuclear medicine supply chain needs to be modernized to keep up with patient needs," said Greg Piefer, founder and CEO of SHINE Technologies, in a statement. "We're building that now, bringing new technology to bear across both diagnostic and therapeutic markets. This strengthens the entire isotope supply ecosystem and positions SHINE to deliver the reliability healthcare depends on."

Tackling a Global Supply Chain Crisis

At the heart of SHINE's strategy is the ambitious Chrysalis facility, currently under construction in Janesville. For decades, the global supply of molybdenum-99 (Mo-99)—the parent isotope that decays into technetium-99m (Tc-99m) for diagnostic scans—has depended on a handful of aging, government-owned nuclear reactors, primarily located outside the United States. This reliance has created a notoriously brittle supply chain, prone to disruptions from reactor shutdowns that have led to procedure delays and cancellations for patients.

The Chrysalis facility is designed to solve this problem. Utilizing proprietary fusion-based technology, it will use powerful neutron generators to produce Mo-99 from low-enriched uranium, a method considered safer and more environmentally responsible than traditional reactor-based production. Supported by over $100 million in funding from the U.S. Department of Energy's National Nuclear Security Administration, the project is a key part of a national strategy to establish a reliable, domestic supply of this critical isotope.

With construction well underway and commercial production slated to begin in early 2027, Chrysalis is projected to have the capacity to supply more than one-third of the world's Mo-99 demand. The isotopes produced there, including Mo-99 and Xenon Xe-133 gas, will directly feed into the newly acquired SPECT business, creating a fully integrated, U.S.-based supply chain from raw material production to patient-ready radiopharmaceuticals.

Veteran Leadership to Guide Integration

To ensure the seamless integration of this legacy business and capitalize on its growth potential, SHINE has tapped Michael Rossi, a highly respected figure in the radiopharmaceutical sector. With over three decades of experience, Rossi's career includes transformative leadership roles across the industry.

Most recently, he served as President and CEO of Y-mAbs Therapeutics, where he guided the company's growth and its successful acquisition. His extensive resume also includes serving as President of Jubilant Radiopharma, which he built into a vertically integrated leader, and as General Manager of GE Healthcare's Global SPECT Segment. His deep expertise in commercial operations, M&A integration, and radiopharmaceutical logistics makes him an ideal choice to lead SHINE SPECT USA.

"Mike Rossi's thirty years of experience in radiopharmaceuticals makes him the right leader to integrate and grow our SPECT operations," Piefer noted.

Rossi expressed his enthusiasm for the new role, highlighting the synergy between the two entities. "I'm excited to join SHINE at this pivotal moment," Rossi stated. "The SPECT team has built strong customer relationships and operational excellence over decades. Combining that foundation with SHINE's expanding production capabilities creates the integrated platform the nuclear medicine market needs. I'm looking forward to working with this team to strengthen supply chain security for our customers and patients."

Building a Future in Theranostics

This acquisition does not just solidify SHINE's role in diagnostics; it significantly advances its position in the rapidly emerging field of theranostics—an approach that combines precise diagnostic imaging with targeted radionuclide therapy. While the SPECT business fortifies the diagnostic side, SHINE is already a major player on the therapeutic front.

The company's Cassiopeia facility is one of the largest production sites in the Western Hemisphere for lutetium-177 (Lu-177), a medical isotope at the forefront of targeted cancer treatments. By controlling both diagnostic and therapeutic isotope production, SHINE is positioning itself as an end-to-end provider in this new paradigm of personalized medicine. This dual capability will enable the development and supply of paired agents that can first identify and then destroy cancer cells, minimizing damage to surrounding healthy tissue.

The move illustrates a broader, commercially driven strategy. While the company's ultimate ambition is to commercialize fusion for clean energy production, it is building its business by applying its fusion technology to solve pressing, near-term problems in healthcare and industry. This acquisition is a critical step in that journey, creating a robust commercial engine that not only addresses today's healthcare needs but also funds the path toward a future powered by fusion.