Signs contract with Best Medical International Inc.
OTTAWA, Nov. 29 /CNW/ - 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
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, which is subject to the usual
closing conditions, 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
"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 (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 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 www.teambest.com.
For further information:
For further information: Media: Shelley Maclean, Manager External
Communications, MDS Nordion, (613) 592-3400 ext. 2414,
email@example.com; Investors: Sharon Mathers, Senior Vice-President,
Investor Relations and External Communications, MDS Inc., (416) 675-6777 x