Property, Plant and Equipment, Net

6 Months Ended

Jun. 30, 2025

Property, Plant and Equipment [Abstract]

7. Property, Plant and Equipment, Net

Property, plant and equipment, net, consisted of the following:


	June 30,			December 31,
(in thousands)	2025			2024
Land	$	3,020		$	9,480
Buildings		50,114			85,523
Machinery, equipment and fixtures		86,509			114,357
Computer software		52,375			48,702
Construction in progress		31,164			27,498
Total gross property, plant and equipment		223,182			285,560
Less - accumulated depreciation and amortization		(65,456	)		(108,762	)
Total property, plant and equipment, net	$	157,726		$	176,798

(1)

As of June 30, 2025, amounts totaling $6.5 million in land, $46.2 million in buildings, $37.9 million in machinery, equipment and fixtures, $0.4 million in computer software, $5.7 million in construction in progress and $53.2 million in accumulated depreciation and amortization were reclassified to assets held for sale as a result of the pending sale of the Company’s SPECT business. See Note 8, “Assets and Liabilities Held for Sale” for more information.

Depreciation and amortization expense related to property, plant and equipment, net, was $5.1 million and $4.6 million for the three months ended June 30, 2025 and 2024, respectively, and $10.6 million and $10.0 million for the six months ended June 30, 2025 and 2024, respectively.

On January 8, 2024, the Company entered into an agreement with Perspective to transfer the sublease for the property at 110 Clyde Rd, Somerset, New Jersey (the “Somerset Facility”) and sell the associated assets at the Somerset Facility for $8.0 million. The transfer of the sublease and completion of the asset sale occurred on March 1, 2024. The sale of assets resulted in a derecognition to the right-of-use asset of $0.4 million, the lease liability of $0.4 million and remaining property, plant and equipment of $0.8 million. The Company also incurred commission expense of $1.0 million related to the transaction. The Company recorded a gain of $6.3 million for the six months ended June 30, 2024 within operating income.

See Note 19, “Acquisitions” for further discussion of the Perspective transaction.