MDS Inc. Completes Divestiture of MDS Pharma Services Phase II-IV Operations
01 Juillet 2009 - 2:00PM
PR Newswire (US)
MDS Pharma Services to Focus on the Delivery of Early Stage
Services - Discovery Through Phase IIa TORONTO, July 1
/PRNewswire-FirstCall/ -- 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 Phase II-IV operations to INC Research,(R) Inc. Under the terms
of the agreement, INC Research, a leading global provider of
contract research organization services headquartered in Raleigh,
North Carolina, has acquired MDS Pharma Services Phase II-IV
operations, which includes approximately 800 employees who conduct
large, multi-site clinical trials in more than 25 countries. "The
completion of this transaction supports our efforts to advance MDS
Pharma Services' top-three leadership position in the delivery of
Early Stage services," said Stephen P. DeFalco, President and Chief
Executive Officer of MDS Inc. MDS expects to provide additional
detail with respect to the divestiture of its Phase II-IV
operations when the Company reports financial results for its
fiscal third quarter (three months ending July 31, 2009). The
Company's decision to sell its MDS Pharma Services Late Stage
operations, which are comprised of Phase II-IV operations and
Central Labs, are a result of MDS's ongoing strategic review
process. A suitable buyer is being sought for Central Labs, which
conducts analysis of clinical-trial samples to monitor safety and
to test for physiological impact. Central Labs has more than 600
employees at six sites in Europe, North America and Asia. MDS
Pharma Services' New Strategic Focus Additional background
materials pertaining to the new strategic focus for MDS Pharma
Services can be found on MDS Inc.'s Website at
http://www.mdsinc.com/for_media/electronic_media_kit.asp About INC
Research,(R) Inc. INC Research is a therapeutically focused
contract research organization with a high performance reputation
for conducting global clinical development programs of the highest
integrity. Pharmaceutical and biotechnology companies look to INC
Research for a complete range of customized Phase I through Phase
IV programs in therapeutic areas of specialty, and in innovative
pediatric and women's health trials. The company's The Trusted
Process(R) methodology and therapeutic foresight leads customers to
more confident, better-informed drug and device development
decisions. INC Research is headquartered in Raleigh, North
Carolina. For more information please visit
http://www.incresearch.com/. About MDS MDS Inc. (TSX: MDS; NYSE:
MDZ) is a global life sciences company that provides market-leading
products and services that our customers need 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 has more than 4,200 highly skilled people in 13
countries. Find out more at http://www.mdsinc.com/ or by calling
1-888-MDS-7222, 24 hours a day. DATASOURCE: MDS Inc. CONTACT:
MEDIA: Janet Ko, (905) 267-4226, ; INVESTORS: Kim Lee, (905)
267-4230,
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