MDS Nordion Divests Non Strategic Product Lines
29 Novembre 2007 - 3:30PM
PR Newswire (US)
Signs contract with Best Medical International Inc. OTTAWA, Nov. 29
/PRNewswire-FirstCall/ -- MDS Nordion, a leading provider of
medical isotopes and radiopharmaceuticals, today signed an
agreement with Best Medical International Inc. to divest its
external beam therapy and self-contained irradiator product lines.
The sale is a key part of MDS Nordion's growth strategy to focus
its resources on being a leading innovator in molecular medicine.
Under the terms of this agreement, Best Medical International Inc.,
a provider of radiotherapy and oncology products, will purchase MDS
Nordion's external beam therapy and self-contained irradiator
product lines. External beam therapy equipment is used in the
treatment of cancer, and self-contained irradiators are used for
the irradiation of blood to prevent disease and for research
purposes. Best Medical International Inc. will acquire these two
product lines with combined annualized revenues of US $32 million
and approximately 150 employees. The transaction, which is subject
to the usual closing conditions, is expected to close over the next
three months. The financial terms are not being disclosed. "This
sale represents a further focusing of our business at MDS Nordion,"
said Steve West, President, MDS Nordion. "By divesting these
product lines, we can direct all of our energy and resources on
becoming a leading innovator in the exciting and growing field of
molecular medicine." The external beam therapy units and blood
irradiators are complementary to the kinds of medical equipment
manufactured by Best Medical International Inc. With a strategic
focus on improving medical care in developing countries, Best
Medical International Inc. will provide an opportunity to expand
these product lines. "These product lines are a great fit with our
company," said Krishnan Suthanthiran, President, Best Medical
International Inc. "The external beam cancer therapy product line
complements our portfolio as we will now be able to offer the
equipment and services required to set up cancer treatment centres,
a move towards our goal of launching war on cancer globally." About
MDS Nordion MDS Nordion (http://www.mdsnordion.com/) is a world
leader in medical isotopes, radiation and related technologies. It
is a business unit of MDS Inc. (TSX:MDS)(NYSE:MDZ). MDS Inc. is a
global life sciences company that provides market-leading products
and services for the development of drugs and diagnosis and
treatment of disease. We are a leading global provider of
pharmaceutical contract research, medical isotopes for molecular
imaging, radiotherapeutics, and analytical instruments. MDS Inc.
has more than 6,200 highly skilled people in 28 countries. Find out
more at http://www.mdsinc.com/ or by calling 1-888-MDS-7222, 24
hours a day. About Best Medical International Inc. For 30 years,
Best Medical has served the medical community with the highest
quality products and unparalleled customer service. Our
brachytherapy seeds, gold fiducial markers, supplies, accessories
and exam equipment exemplify our commitment to uncompromised
quality and safety. Best Medical International now encompasses a
family of trusted companies and organizations with a proven track
record of innovation, quality and service in external beam
radiation therapy, brachytherapy and vascular brachytherapy
solutions. Find out more at http://www.teambest.com/. DATASOURCE:
MDS Nordion CONTACT: Media: Shelley Maclean, Manager External
Communications, MDS Nordion, (613) 592-3400 ext. 2414, ; Investors:
Sharon Mathers, Senior Vice-President, Investor Relations and
External Communications, MDS Inc., (416) 675-6777 x 34721,
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