Overview

The information in this section of the Website is accurate as of September 8, 2009

MDS Inc. (TSX: MDS; NYSE: MDZ), a leading provider of products and services to the global life sciences markets, announced it has entered into an agreement to sell its MDS Analytical Technologies business to Danaher Corporation (NYSE: DHR) for $650 million in cash, and that it currently intends to return approximately $400 million to $450 million of the sale proceeds to shareholders. The completion of this sale is subject to shareholder and regulatory approval, and other closing conditions.

MDS also announced that it intends to sell its 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, MDS will focus solely on its MDS Nordion business, which is a leading provider of medical isotopes for molecular and diagnostic imaging, radiotherapeutics and sterilization technologies.

Summary

  1. Highlights
  2. News Releases
  3. View the Management Proxy Circular
  4. Frequently Asked Questions
  5. Contact Information


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1. Highlights

  • These decisions follow a comprehensive strategic review by a Special Committee of independent Directors working with Management and financial and legal advisors.
  • The MDS Inc. Board of Directors believes these actions are in the best interests of the Company and its shareholders, and unanimously recommend that shareholders vote in favor of the sale of MDS Analytical Technologies.
  • To approve the sale of MDS Analytical Technologies, a Special Meeting of Shareholders has been scheduled for October 20, 2009. The sale must be approved by two-thirds of the votes cast at the meeting.
  • Under a separate arrangement, Danaher has agreed to purchase the portion of the Applied Biosystems/MDS Analytical Technologies mass spectrometry joint-venture partnership held by Life Technologies Corporation (NASDAQ: LIFE). Completion of each transaction is conditioned on the concurrent closing of the other transaction.
  • MDS is actively seeking a buyer for its MDS Pharma Services business, which is focused on Early Stage operations (Discovery through Phase IIa).
  • Subsequent to the completion of a sale of the MDS Pharma Services business, the Company anticipates it would distribute a portion of the sale proceeds to shareholders. 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 for MDS Pharma Services, it intends to retain and invest in building the business.
  • As a stand-alone business, MDS Nordion will continue to focus and build its core strengths and leadership position in providing medical isotopes for molecular and diagnostic imaging, radiotherapeutics and sterilization technologies.

 

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2. News Releases

Feb 01 - MDS Inc. Completes Divestiture of MDS Analytical Technologies
Jan 27 - MDS Receives U.S. Federal Trade Commission Provisional Regulatory Approval for Sale of MDS Analytical Technologies
Jan 25 - MDS Announces Resolution of Litigation Related to the Sale of MDS Analytical Technologies
Jan 08 - MDS Appoints Steve West MDS Inc. Chief Executive Officer
Nov 03 - MDS Inc. and Danaher Corporation Receive Second Request for Information from U.S. Federal Trade Commission for MDS Analytical Technologies Sale
Nov 02 -   MDS Inc. Completes Divestiture of Central Labs Operations
 Oct 20 -   MDS Inc. Announces Shareholder Approval of Sale of MDS Analytical Technologies
Oct 09 -   MDS Announces Agreement to Sell Central Labs Operation to Czura Thornton
Oct 08 -   Leading Proxy Advisory Firms Recommend that MDS Shareholders Vote for the Divestiture of MDS Analytical Technologies
Sept 17 - MDS Files Management Proxy Circular
Sept 17 - MDS Announces CEO Transition Plan
Sept 04 - MDS Announces Special Meeting of Shareholders and Record Date
Sept 02 - MDS Announces Voting Support Agreements
Sept 02 - MDS Announces Strategic Repositioning

Webcast (Oct 20, 2009)
Webcast (Sept 2, 2009)    Transcript (PDF)

3. View the Management Proxy Circular (PDF)

4. Frequently Asked Questions

5. Contact Information
If you would like to contact MDS Investor Relations or if you are a member of the news media and are seeking additional information from, please follow the links:

  Investor Relations   Media