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.
|SOURCE MDS Nordion|
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