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Last updated : 15/10/2026 - 11h04
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IBA Secures Order for 12 Cyclotrons for PET Imaging Network in the United States

A global producer and distributor of radiopharmaceuticals, whose name has not been disclosed, has selected the Belgian group as a preferred supplier for the expansion of its American production network. The announcement was made on October 15, 2026. It concerns equipment intended for large-scale production of PET imaging tracers, with prospects toward therapeutic applications.


IBA Secures Order for 12 Cyclotrons for PET Imaging Network in the United States

Twelve Cyclone KIUBE 300 Cyclotrons for a National Production Network

IBA (Ion Beam Applications) stated that it has been selected as a preferred supplier by this customer as part of the expansion of its production network in the United States. The collaboration results in an order for 12 Cyclone KIUBE 300 systems, designed to secure the production of radioisotopes for diagnostic and therapeutic applications. The systems will be deployed across multiple sites throughout the country. They will form a national network dedicated to high-volume commercial manufacturing of positron emission tomography (PET) tracers, with fluorine-18 as the primary radioisotope. Loïk-Maël Nys, President of IBA RadioPharma Solutions, commented on the transaction, stating: "We are pleased to have been selected by one of the world's major players in radiopharmaceutical production to support its expansion plan in the United States. The deployment of 12 high-capacity cyclotrons within a national network over such a short timeframe represents a major project, which demonstrates IBA's unique capacity to produce at large scale, to execute its projects consistently, and to provide all the services necessary for the design, installation, commissioning, and long-term support of production sites."

Targets, Site Design and Training Included in the Contract

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The contract is not limited to the machines. Each cyclotron will be equipped with several Nirta HCFT 18F targets without helium cooling. The order also includes associated services: facility design (IntegraLab), equipment installation and commissioning, access to the KARE portal, as well as operator and maintenance team training. IBA specified that the price of a Cyclone KIUBE 300 system generally ranges from 2.5 to 5 million euros, depending on the configuration and options selected.

Equipment Configured for Fluorine-18 and Ready for Radiometals

Each system will be configured for large-scale fluorine-18 production while remaining ready to integrate radiometal production as the therapeutic market develops. IBA presents this order as an illustration of a strategy consisting of investing in production capacity ahead of demand. According to the group, industrial production capacity is currently the main limiting factor in the radiopharmaceuticals market. The United States is, according to IBA, the world's largest market. The company claims more than 350 PET and SPECT cyclotrons installed worldwide. It reports an availability rate for its Cyclone KIUBE fleet exceeding 97%.



Sector Dispositifs médicaux et optique › Dispositifs médicaux


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Context

Period
  • Period: S1 2026
Key reported figures
  • Revenue: 323,7 millions d'euros
  • Quarterly revenue: 323,7 millions d'euros
  • EBITDA: 21,8 millions d'euros
  • EBITDA margin: 8,2 %
  • Net income: 9,3 millions d'euros
  • 81 millions d'euros
Guidance from the release
  • Prévisions d'EBIT ajusté pour l'exercice 2026 confirmées, reflétant la confiance du Groupe dans ses perspectives pour l'ensemble de l'année.
Risks mentioned
  • Surcapacité persistante sur le marché d'Industrial Solutions malgré un pipeline actif.
  • Retards temporaires de facturation liés à la migration ERP qui ont impacté la position financière nette.
  • Dosimetry reste sous pression malgré les mesures de réduction des coûts.
Opportunities identified
  • Forte dynamique commerciale en Proton Therapy avec cinq salles vendues et cinq prises de commandes de plus de €148 millions au S1.
  • PanTera a obtenu la qualification de fournisseur c-GMP d'actinium-225 et extension de collaboration avec TerraPower Isotopes pour tripler la capacité de production en Belgique.
  • Amélioration continue de la rentabilité : marge brute passée de 29,5% à 33,7% et EBITDA ajusté en croissance de 63%.
Outlook / guidance
  • Management commentary: Prévisions d'EBIT ajusté pour l'exercice 2026 confirmées à au moins € 32 millions

The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.

Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.

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