Digirad invests $1 million in Perma-Fix Medical

Perma-Fix Medical, a Polish subsidiary of Perma-Fix Environmental Services, Inc., announced this week that it has completed its strategic partnership with Digirad Corporation. As part of the deal, Digirad invested $1 million into Perma-Fix Medical and Digirad CEO Matt Molchan joined its supervisory board.

Perma-Fix Medical was formed to develop, gain regulatory approval of and commercialize a brand new process to produce Tc-99m, a common medical isotope.

Digirad is a national provider of in-office nuclear cardiology and ultrasound imaging, and a user of Tc-99m.

“We are pleased to have finalized our agreement with Digirad, which we believe will help accelerate development and commercialization of our new proprietary process to produce Tc-99m without the use of uranium,” Perma-Fix Medical CEO Steve Belcher said in a statement.

Molchan also commented on the news.

“Perma-Fix Medical S.A. has made significant progress since we began our relationship and we look forward to working closely with them to bring this transformation process to market,” he said in a statement. “We believe the Perma-Fix Medical S.A. process can develop into the standard of production of Tc-99m for many years into the future.”