Published on November 2, 2009 at 8:52 AM
MDS Inc. (TSX: MDS; NYSE: MDZ), a leading provider of products and services to the global life sciences markets, today announced that it has completed the divestiture of its Central Labs operations to Czura Thornton, a private investment group based in Jersey, Channel Islands.
Central Labs provides a comprehensive range of late-stage laboratory services to global clients, including standardized assays, cardiac services, integrated data management, international laboratory study co-ordination and site support from 600 employees at six sites in Europe, North America and Asia.
"The completion of this transaction supports the Company's strategy to focus on its MDS Nordion business," said Stephen P. DeFalco, President and Chief Executive Officer of MDS Inc. "MDS Nordion remains committed to innovation and operational excellence to further build its leadership positions in the provision of medical isotopes for molecular and diagnostic imaging, radiotherapeutics and sterilization technologies."
MDS Inc. Strategic Repositioning
On September 2, 2009, MDS announced it had reached an agreement with Danaher Corporation to sell its MDS Analytical Technologies business. The Company also announced that it intends to sell its remaining MDS Pharma Services business, a leading provider of innovative drug discovery and early-stage development solutions for pharmaceutical and biotechnology companies. Upon completion of these transactions, the Company will be focused solely on its MDS Nordion business, which is a leading provider of medical isotopes for molecular and diagnostic imaging, radiotherapeutics and sterilization technologies. Additional background materials pertaining to the new strategic direction for MDS Inc. can be found on MDS Inc.'s Website at http://www.mdsinc.com/strategic_repositioning_of_mds/index.asp.
There can be no assurance that MDS will complete a transaction involving MDS Pharma Services. If MDS determines that there is not an acceptable transaction, it intends to retain and invest in building the business.
Source: MDS INC.