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
|SOURCE MDS Inc.|
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