IBA acquires ORA expanding its strategic leadership in Nuclear Medicine

Louvain-La-Neuve, Belgium, 19 December 2025 - IBA (Ion Beam Applications S.A., EURONEXT), the world leader in particle accelerator technology with a preeminent position in nuclear medicine, acquires ORA, a global trailblazer in radiochemistry based in Belgium.

This acquisition emphasizes IBA’s long-term commitment to the fast-developing and promising field of nuclear medicine. It reinforces IBA’s position at the forefront of innovation in precision oncology enabling for better diagnostic and more personalized patient therapy.

The combination of IBA cyclotron leadership with ORA’s cutting-edge technology provides one of the most competitive integrated solutions for hospitals and global radiopharmacy networks looking for high productivity and access to labelling of advanced radioisotopes.

This acquisition complements IBA’s existing nuclear medicine strategic initiatives including the co-founding of PanTera for the production of Ac-225, and the shaping of the Accelerate.EU program, as well as the ongoing collaboration with Framatome to explore opportunities in the production of At-211. It is an additional step for IBA on its journey to bring innovation in care to patients and to accelerate the translation of innovative nuclear medicine solutions from bench to bedside.

The transaction, for a total consideration of € 15-20 million on a cash-free, debt-free basis, is immediately accretive to IBA Technologies’ revenue and EBITDA and is expected to generate revenue synergies. Financed through IBA’s own funds and existing credit facilities, the acquisition will not have material impact on IBA’s 2025 financial guidance or mid-term outlook.

“Joining forces with IBA opens exciting opportunities to scale our NEPTIS^® technology and accelerate innovation in radiochemistry.” said Vincent Tadino, Founder and Chief Executive Officer of ORA. “Together, we will continue to push the boundaries of PET and therapeutic radiochemistry, ensuring our customers have access to the most advanced and reliable solutions for radiopharmaceutical production.“ 

"ORA’s acquisition accelerates our mission to deliver integrated solutions from isotope production to patient-ready therapies, making advanced cancer treatments and diagnostics more accessible worldwide” stated Charles Kumps, President of IBA RadioPharma Solutions, “I am particularly excited that Vincent will continue to lead as Chief Technology Officer of ORA, bringing his vision and deep expertise to our joint efforts.”

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About IBA



IBA (Ion Beam Applications S.A.) is the world leader in particle accelerator technology. The company is the leading supplier of equipment and services in the fields of proton therapy, considered as one of the most advanced forms of radiation therapy available today, as well as industrial sterilization, radiopharmaceuticals and dosimetry. The company, based in Louvain-la-Neuve, Belgium, employs approximately 2,100 people worldwide. IBA is a certified B Corporation (B Corp) meeting the highest standards of verified social and environmental performance.

IBA is listed on the pan-European stock exchange EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB)

About ORA Group

The Belgium-based ORA Group, composed of ORA (Optimized Radiochemical Applications SRL) and OOC (Out and Out Chemistry), is a recognized world player in the supply of fully automated PET radiopharmaceutical synthesizers (radiochemistry modules) for use in the production of sterile injectable PET drug products.

In 2009, using extensive working knowledge and experience gained in PET manufacturing, the NEPTIS® product family was launched. The synthesizers are specifically designed and constructed to meet current industry standards and users’ requirements with their potential future needs also in mind. The robust hardware and advanced software capabilities provide the means to create an unlimited number of individualized radiotracer synthesis applications.

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