Press Release
MDS Nordion Divests Non-Strategic Product Lines
Signs contract with Best Medical International Inc.
Ottawa, Canada, November 29, 2007 - 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 (www.nordion.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
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
www.teambest.com.
For more information, contact:
Media:
Shelley Maclean
Manager, External Communications
MDS Nordion
Investors:
Sharon Mathers
Senior Vice-President,
Investor Relations and External Communications
MDS Inc.
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