Transactions & Cases Detail



Transaction/Case Details

MDS completes US$650 million sale of MDS Analytical Technologies' business to affiliates of Danaher Corp

DATE CLOSED

January 29, 2010

BUSINESS SECTOR

Pharmaceutical / Bio Life Sciences

LEAD OFFICE

Toronto

VALUE

650 Million USD


OVERVIEW

On September 2, 2009, MDS Inc. announced that it has entered into an agreement to sell its MDS Analytical Technologies business, a leading global supplier of drug discovery and life sciences research tools, to Danaher Corporation for US$650 million in cash, and that it currently intends to return approximately US$400 million to US$450 million of the sale proceeds to its shareholders.

The Company 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, the Company would 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.

On January 29, 2010, affiliates of Danaher Corporation acquired MDS Analytical Technologies’ business.

MDS Inc., headquartered in Ottawa, Ontario, is a leading provider of products and services to the global life sciences markets.

Danaher, headquartered in Washington, DC, concentrates in the fields of design, manufacture, and marketing of industrial and consumer products.

McCarthy Tétrault LLP represented MDS, as seller, with a team led by Douglas Cannon.

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