May 7, 2025 – Canada’s Competition Bureau has obtained court orders to gather information to advance its investigation into BWX Technologies’ proposed acquisition of Kinectrics.

The bureau is investigating whether the acquisition is likely to result in a substantial lessening or prevention of competition in Canada’s nuclear medicine sector. The acquisition includes Kinectrics’ interest in Isogen, a company that enables the production of medical isotopes, which is jointly owned with Framatome Canada.

Granted by the Federal Court of Canada, the court orders require three market participants in the nuclear medicine sector to provide information and produce records and data related, but not limited, to transaction agreements, capacity, sales, and competitive dynamics. The entities receiving court orders are Bruce Power, Ontario Power Generation and Framatome Canada.

The bureau also issued supplementary information requests to BWX Technologies and Kinectrics.

Meet the players

BWX is a publicly-traded, US-based company involved in various nuclear industries. In the medicine sector, the company processes medical isotopes and manufactures finished drug products. It also partners with Ontario Power Generation to produce medical isotopes.

Kinectrics is a Toronto-based provider of engineering and in-plant services for nuclear facilities. It produces inputs used for medical isotopes while its joint venture, Isogen, produces medical isotopes.

Isogen is a Canada-based joint venture between Kinectrics and Framatome Canada, working with CANDU reactor technology to enable the production of medical isotopes. Isogen partners with Bruce Power to produce medical isotopes for global markets.

Bruce Power and OPG operate CANDU nuclear reactors and are leading suppliers of medical isotopes used worldwide. Both are headquartered in Ontario and are Canada-owned.

Framatome Canada is a subsidiary of Framatome, a France-based company that provides nuclear power products and services.

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