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MDS Reports Third Quarter 2009 Financial Results
Date:9/10/2009

) an agreement with the Karpov Institute of Physical Chemistry in Russia to assess capability as a potential supplier; and (iii) submission to the Government of Canada's Expert Review Panel on Medical Isotopes and Technetium-99m to receive expertise and guidance from the South African Nuclear Energy Corporation to bring the MAPLE reactors online.

"The economic downturn, further softening in demand for contract research organization services and the unexpected and prolonged shutdown of AECL's National Research Universal (NRU) reactor created significant challenges for our business," said Stephen P. DeFalco, President and Chief Executive Officer, MDS Inc. "We believe the announced strategic repositioning of MDS will unlock the value of our businesses in the near-term, and provide greater opportunities for each of our businesses going forward."

Strategic Repositioning

On September 2, 2009, MDS announced it had entered into an agreement to sell its MDS Analytical Technologies business to Danaher Corporation (NYSE: DHR) for $650 million in cash, and that it currently intends to return approximately $400 million to $450 million of the sale proceeds to its shareholders. Transaction and restructuring costs, associated with the sale, are expected to be in the range of $45 million to $55 million on a pre-tax basis, and no cash income taxes are expected. The completion of the sale is subject to shareholder and regulatory approval, and other closing conditions. In addition, the Company also announced that it intends to sell its MDS Pharma Services business, and upon the completion of these transactions would be focused solely on its MDS Nordion business.

These decisions follow a comprehensive strategic review by a Special Committee of independent dire
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SOURCE MDS Inc.
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