Global investment firm CapVest Partners LLP is making a big bet on nuclear medicine. Its portfolio company, Curium, has agreed to buy Lantheus Holdings Inc. (LNTH) in a deal that could be worth up to $8 billion. That's a hefty price tag, and it's got at least one analyst feeling pretty good about it.

Kate Briant, Chair of Curium's Board of Directors and a Senior Partner at CapVest, said the acquisition shows the firm's confidence in the long-term growth of the nuclear medicine market. The idea here is to combine Curium's therapeutic know-how with Lantheus' diagnostic imaging portfolio, creating a bigger, more global radiopharmaceutical player.

Deal Values Lantheus At Up To $114.50 Per Share

Here's how the math works for Lantheus shareholders. At closing, they'll get $102.50 per share in cash. On top of that, they'll receive non-transferable contingent value rights (CVRs) that could pay out an additional $12.00 per share if certain commercial milestones are hit through 2030. So, all in, the deal is valued at up to $114.50 per share.

That's a 38% premium to Lantheus' unaffected 60-day volume-weighted average share price as of May 21, 2026, which was the last trading day before the first media report of a potential sale. The transaction is expected to close in the first half of 2027, pending customary approvals.

Lantheus Board Backed Deal Unanimously

Lantheus' board didn't just rubber-stamp this. They unanimously approved the acquisition after reviewing multiple strategic alternatives, including reaching out to potential buyers and considering staying independent. In the end, they decided that the Curium deal was the best way to maximize shareholder value.

Building A Global Nuclear Medicine Leader

CapVest founded Curium in 2017 and still controls it after a recapitalization in 2025 that valued the company at around $7 billion. Briant said the combination will make Curium stronger in capitalizing on the growing demand for nuclear medicine and speed up the delivery of new diagnostic and therapeutic solutions worldwide.

The combined company will operate in more than 70 countries and cover the entire nuclear medicine value chain, from isotope production and manufacturing to diagnostic imaging and targeted radionuclide therapies. Its portfolio will include products like PYLARIFY, DEFINITY, and Neuraceq.

Analyst Says Another Bid Is Unlikely

William Blair analyst Andy Hsieh thinks this is a good deal for Lantheus shareholders, especially given the operational challenges the company has faced over the past two years. "We believe the Curium merger represents an excellent outcome for Lantheus shareholders, especially against the backdrop of operational headwinds experienced in the past two years," Hsieh wrote.

He also noted that it's unlikely another bidder will step in. "Given the small number of companies that possess the technical know-how to absorb a radiodiagnostic company, we believe it is unlikely that another bidder will emerge." Hsieh added that Lantheus' U.S.-focused radiodiagnostics business complements Curium's theranostics portfolio, making the combination strategically compelling.

LNTH Price Action: Lantheus Holdings shares were up 2.37% at $102.00 at the time of publication on Monday, according to market data.