Czura Thornton Announces Intention to Acquire Global Central Laboratory Business of MDS Pharma Services
09 Oktober 2009 - 5:27PM
PR Newswire (US)
LONDON, Oct. 9 /PRNewswire/ -- Private investment firm Czura
Thornton today announced it has signed an agreement to acquire the
global central laboratory ('GCL') operations of MDS Pharma
Services, a business unit of MDS Inc (NYSE: MDZ; TSX: MDS). GCL, to
announce a new brand shortly, provides a comprehensive range of
late-stage laboratory and electrocardiogram services supporting
clinical trials globally. The business' proprietary leading edge
Apollo CLPM(TM) (Central Lab Protocol Management) system offers
clients real-time access to study data from around the world. GCL
employs 600 people at accredited facilities in Beijing, Hamburg,
North Brunswick (New Jersey), Paris, Singapore and Toronto. In a
joint statement, Czura Thornton's founders Tony Czura and Nick
Thornton said: "We are delighted to be acquiring MDS's global
central laboratory platform and the deep expertise of the people
there. Combined with our focus on the consistent delivery of high
quality service and the flexibility and responsiveness that private
ownership allows, we look forward to seeing renewed strength and
growth in the business." They added that, "While we see excellent
opportunities for collaboration with Chiltern, a leading CRO also
owned by Czura Thornton, the two entities will operate
independently." The transaction is expected to close in the fourth
quarter of 2009 and is subject to customary approvals and closing
conditions. In addition, the sale of the Central Labs operations in
France and Germany is subject to review and consultation with the
applicable Works Councils in accordance with labor laws in those
countries. "We are pleased that the agreement with Czura Thornton
creates opportunities to build the Central Labs business, which
includes world-class facilities and highly skilled people focused
on delivering superior client service," said Stephen P. DeFalco,
President and Chief Executive Officer of MDS Inc. About Czura
Thornton: Czura Thornton is a private investment group that was
founded by Tony Czura and Nick Thornton in 2003. The group, which
owns leading CRO Chiltern (http://www.chiltern.com/), has interests
in the life sciences, international trade, property and automotive
sectors. In particular Messrs Czura and Thornton have extensive
international experience in the laboratory and CRO sectors. For
further information see http://www.czurathornton.com/. Contact:
Zareena Chattoo; +44 1753 216 611 (U.K.) DATASOURCE: Czura Thornton
CONTACT: Zareena Chattoo, (U.K.), +44 1753 216 611, for Czura
Thornton Web Site: http://www.czurathornton.com/
http://www.chiltern.com/
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