Name Change is Key Step in Transition to Borealis Ownership
TORONTO, Nov. 1 /CNW/ - MDS Diagnostic Services today announced that it
is changing its company name to LifeLabs and will begin re-branding all
physical aspects of the business to reflect this change in identity.
LifeLabs, formerly MDS Diagnostic Services, has operated in Canada for
nearly 50 years. Today, it delivers more than 50 million laboratory tests
annually to over 10 million patients and nearly 20,000 physicians across the
country. The results of these tests help physicians diagnose their patients
and work with them to prevent, treat and manage illness. It is estimated that
seventy percent of medical decisions are made using medical laboratory data.
The company's name change is required as a condition of its sale, on
February 23, 2007, to Borealis Infrastructure, an investment entity of OMERS
(Ontario Municipal Employees Retirement System). Prior to this date, the
business operated as a division of MDS Inc., an international health and life
To identify an appropriate new name for the business, LifeLabs held focus
groups with patients, physicians and employees. "We heard repeatedly that lab
tests play a vital role in making healthcare decisions that help to improve a
patient's quality of life," said Hans Thunem, President and CEO, LifeLabs.
"What really inspired us was something employees said. When collecting,
transporting or testing a patient specimen, they don't just see a tube of
blood, they see the person -- the life -- behind it. This patient focus is
what inspires them to do their best."
"We're excited about the future of this business and are fully committed
to continuing MDS Diagnostic Services' long standing tradition of quality
under the LifeLabs name," assured J. Michael Rolland, President of Borealis
Infrastructure. "We will continue to invest in people and technology to ensure
that patients and physicians have access to timely, accurate test results that
support and improve healthcare outcomes."
Integrating the LifeLabs name and logo across the business will take
place over several months. Items being re-branded include: building signage,
courier vehicles, employee uniforms, stationery, e-mail addresses and
websites. Examples of the new brand can be found at www.mdsdx.com (soon to be
www.lifelabs.com). To avoid confusion, patients, customers, suppliers and
partners of the company are all being given advanced notice of these changes.
"This name change is an important milestone for our company. It signifies
the conclusion of our change in ownership and moves us to the next chapter in
our development," added Thunem. "I'd like to thank our patients, physicians
and employees for their support during our transition. We look forward to
providing the same quality service under our new name - LifeLabs."
LifeLabs, formerly MDS Diagnostic Services, provides laboratory testing
services, which help physicians and other healthcare professionals diagnose,
treat, monitor and prevent disease in patients. LifeLabs employs more then
3000 professionally trained staff, who deliver more than 50 million laboratory
tests annually to over 10 million patients and nearly 20,000 physician
customers. For more information, visit www.mdsdx.com (soon to be
Borealis Infrastructure identifies, invests in and manages OMERS
infrastructure assets, which provide competitive and stable rates of return
over a long investment horizon. In the business since 1998, Borealis is a
global leader in infrastructure investing, with assets in energy,
transportation, infrastructure buildings, including long-term care facilities
and hospitals, pipelines and telecommunications. For more information, visit
the Borealis Infrastructure website at www.borealisinfrastructure.com.
OMERS is one of Canada's largest pension plans, with more than $48
billion in assets invested around the globe in publicly-traded investments,
real estate, infrastructure and private equity. It provides pension services
to approximately 372,000 active and retired members on behalf of over 900
employers across Ontario. Learn more about OMERS at www.omers.com.
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For further information:
For further information: LifeLabs, Norm Berberich, Senior Manager,
Communications, (416) 675-4530 x2800, firstname.lastname@example.org