MDS Nordion Divests Non Strategic Product Lines
29 November 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 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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