Petnet Solutions, Inc.

Petnet Solutions, Inc., a foreign-owned manufacturer of specialized radiopharmaceutical products, operates as a prime contractor supplying diagnostic imaging agents to federal healthcare agencies across the Department of Veterans Affairs, Defense Health Agency, and Federal Bureau of Prisons. The company is a subsidiary of Siemens Aktiengesellschaft, a global technology conglomerate, and has held federal contractor status since April 2001.

Petnet's federal portfolio centers on manufacturing and distributing positron emission tomography and computed tomography radiopharmaceuticals—including fluorodeoxyglucose (FDG), Axumin (fluciclovine F-18), Amyvid (florbetapir F-18), and Tauvid (flortaucipir F-18)—used to detect and monitor cancer, neurological disorders, and cardiac disease across the federal healthcare system. Representative recent awards include a $1.26 million ceiling purchase order from Veterans Integrated Service Network 7 issued July 18, 2026, for Amyvid and FDG supply through July 2031; a $518.8 million delivery order from VISN 6 awarded March 1, 2026, for radiopharmaceutical supplies through February 2027; and a $1.28 million Defense Health Agency purchase order awarded October 1, 2025, for various radiopharmaceuticals through September 2030, all on firm fixed-price terms with no set-aside designation.

The company's customer base concentrates heavily in the Veterans Health Administration. The top five funding agencies account for 48% of combined potential value across the prime portfolio: Veterans Integrated Service Network 9 (25 awards, $15.3 million), VISN 10 (34 awards, $15.2 million), Defense Health Agency (25 awards, $14.4 million), VISN 22 (80 awards, $13.8 million), and VISN 23 (16 awards, $13.4 million). By award count, VISN 15 leads with 101 awards valued at $5.7 million combined, followed by VISN 22 with 80 awards at $13.8 million. Petnet holds single-award indefinite delivery contracts or blanket purchase agreements with nine separate VISN regions and the Defense Health Agency, with ceiling values ranging from approximately $226 thousand to $3.8 million. The largest active vehicle is a BPA with VISN 23 established October 1, 2025, carrying a $3.8 million ceiling through September 2027 for radiopharmaceutical supply to the Minneapolis VA Health Care System.

Activity has remained steady over recent years—19 awards in 2022, 18 in 2023, 26 in 2024, 26 in 2025, and 10 through mid-July 2026. The company faces a recompete window of $6.9 million in combined potential value across 18 awards with ultimate completion dates in the next twenty-four months, representing routine renewal cycles across its VISN and Defense Health Agency relationships. Petnet competes entirely on full-and-open, non-set-aside basis, reflecting the specialized and often sole-source nature of radiopharmaceutical procurement—the Defense Health Agency's Wright-Patterson Air Force Base BPA for Amyvid, for example, was justified as sole-source due to Petnet's status as the only FDA-licensed manufacturer authorized by the patent owner to supply the product.

The Service Contract Inventory data shows minimal SCI-reportable activity: zero invoiced revenue across FY2022–FY2024 (SCI covers service contracts above $150,000 threshold and excludes goods), with 0.2 FTEs reported in FY2024 across six records (three as prime, three as named subcontractor). This reflects that Petnet's federal work is primarily goods procurement—radiopharmaceuticals and related imaging products—rather than service contracts, and therefore falls outside SCI's reporting scope. Petnet operates as a pure prime contractor with no sub-award activity in the federal portfolio on record; across SCI-reportable service contracts, the average sub-hours share is 0%, indicating Petnet builds its own delivery teams rather than relying on subcontractors. The vendor's NAICS profile is dominated by pharmaceutical preparation manufacturing (551 of 690 awards), with secondary categories in medical equipment and supplies wholesaling and in vitro diagnostics. Petnet's place of performance is consistently Knoxville, Tennessee, where the company maintains its manufacturing and distribution operations as a Siemens subsidiary.