Advertisement

Document › Details
MDS Inc.. (2/1/10). "Press Release: MDS Inc. Completes Divestiture of MDS Analytical Technologies". Toronto, ON.
![]() |
Organisation | MDS Inc. |
Group | MDS (Group) | |
Organisation 2 | MDS Analytical Technologies | |
Group | Danaher (Group) | |
![]() |
Product | laboratory equipment and instruments |
Product 2 | RADIOPHARMACEUTICAL | |
![]() |
Person | West, Steve (MDS 201001– CEO bfore MDS Nordion 200701 President) |
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 MDS Analytical Technologies business to Danaher Corporation (NYSE: DHR) for $650 million in cash.
"The divestiture of the MDS Analytical Technologies business marks a significant milestone in the Company's repositioning strategy and enables a substantial return of proceeds from the sale to shareholders," said Steve West, Chief Executive Officer, MDS Inc.
Proceeds from the Sale
MDS intends to return approximately $400 million to $450 million of the sale proceeds to shareholders by way of a share buyback through a Substantial Issuer Bid. The Company currently expects to initiate a Substantial Issuer Bid within the next 30 days.
Changes to Capital Structure
Concurrent with the closing of the sale, MDS has initiated actions to terminate its undrawn C$500 million revolving credit facility and to retire all outstanding Senior Unsecured Notes at a cost of approximately $223 million including principal, interest and make whole payments by February 3, 2010. The Company also deposited approximately $20 million in cash collateral to support existing letters of credit.
MDS Strategic Repositioning
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.
About MDS
MDS Inc. (TSX: MDS; NYSE: MDZ) is a global life sciences company that provides market-leading products and services that customers need for the development of drugs and the diagnosis and treatment of disease. MDS Inc. is a leading global provider of innovative technologies for use in medical imaging and radiotherapeutics, sterilization, and pharmaceutical contract research. MDS has more than 2,400 highly skilled people in nine countries. Find out more at www.mdsinc.com or by calling 1-888-MDS-7222, 24 hours a day.
Record changed: 2016-03-19 |
Advertisement
![Picture [LSA] Life-Sciences-Asia.com – The Business Web Portal 650x89px](/banner/iito-20190621-650-089-life-sciences-asia.jpg)
More documents for MDS (Group)
- [1] MDS Inc.. (2/19/10). "Press Release: MDS Announces Substantial Issuer Bid". Toronto, ON....
- [2] MDS Inc.. (2/10/10). "Press Release: MDS Announces Agreements to Divest MDS Pharma Services’ Early Stage Business. Company Focused on Building MDS Nordion". Toronto, ON....
- [3] MDS Inc.. (2/1/10). "Press Release: MDS Inc. Announces Appointment of William D. Anderson as Chair of Board of Directors". Toronto, ON....
- [4] MDS Inc.. (1/25/10). "Press Release: MDS Announces Resolution of Litigation Related to the Sale of MDS Analytical Technologies". Toronto, ON....
- [5] MDS Inc.. (1/21/10). "Press Release: MDS Reports Preliminary Fourth Quarter and Fiscal 2009 Financial Results". Toronto, ON....
- [6] MDS Inc.. (1/8/10). "Press Release: MDS Appoints Steve West MDS Inc. Chief Executive Officer. Peter Dans Appointed Future Chief Financial Officer". Toronto....
To subscribe to our free, monthly mass spectrometry newsletter, please send an e-mail to info@iito.de and simply fill the subject line with the word »MSC Newsletter«
To get even more information, please take a look at our [gs] professional services offering and read the gene-sensor Product Flyer [PDF file]
Please visit also our web portals for the Eurpean life sciences and the life sciences in German-speaking Europe (DE, AT & CH) at Life-Sciences-Germany.com and Life-Sciences-Europe.com
Advertisement

» top