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MDS Announces Agreements to Divest MDS Pharma Services' Early Stage Business
Date:2/10/2010

Company Focused on Building MDS Nordion

TORONTO, Feb. 10 /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 signed agreements to divest its remaining MDS Pharma Services Early Stage business, which provides Discovery through Phase IIa clinical trial services to biotechnology and pharmaceutical companies, for $45 million and certain minority equity interests. The $45 million purchase price includes a five-year, $25 million note and $20 million in cash that will be adjusted for working capital and other items; after currently projected adjustments, the $20 million cash payment is estimated to result in net cash proceeds of approximately $7 million.

Upon the close of the sale, MDS will have completed its repositioning strategy and will be focused on building its MDS Nordion business, which has leadership positions in medical imaging and radiotherapeutics, and sterilization technologies.

"The agreements to divest the MDS Pharma Services business are the last major milestone in the repositioning of the Company," said Steve West, Chief Executive Officer of MDS Inc. "While the sale agreements have been struck in a difficult environment, we believe we are doing what's necessary to allow us to focus on building MDS Nordion to create shareholder value over the long term."

Under the terms of the agreements, MDS will divest its Discovery and Pre-Clinical operations in Bothell, Washington'/>"/>

SOURCE MDS Inc.
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