Pharma BD Deal Intelligence

Nordic Capital / BWXT Medical Ltd.

2026 · Asset Purchase · $800M · Pending

BWX Technologies announced on August 3, 2026 a definitive agreement to sell its medical business to Nordic Capital in a transaction valued at up to $800 million. The perimeter includes BWXT Medical and Kinectrics' stable medical isotopes business; BWXT will retain a minority ownership stake in the new company. BWXT framed the divestiture as a way to concentrate capital on its core nuclear national security and commercial nuclear power markets, while Nordic Capital intends to scale the radiopharmaceutical platform across diagnostic imaging and radiotherapeutics. Closing is expected by the end of 2026, subject to customary regulatory approvals. Solomon Partners advised BWXT financially with Stikeman Elliott as legal counsel; Kirkland & Ellis advised Nordic Capital.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2031 at the earliest for this deal, once/if it closes.

Key facts

Related deals

See the full interactive analysis, sources & comparables →

← Browse all deals  ·  How we score deals

More: 2026 deals