MDS Completes Acquisition of Molecular Devices

    TORONTO, March 28 /CNW/ - MDS Inc. (NYSE:  MDZ; TSX: MDS), a leading
provider of products and services to the global life sciences markets,
announced today that it has completed the acquisition of Molecular Devices
    This merger follows the successful completion of the tender offer by MDS
for all of the shares of Molecular Devices for the price of $35.50 per share.
At the time the merger became effective, MDS owned in excess of 90% of
Molecular Devices' issued and outstanding shares. As a result of the merger,
any Molecular Devices shares not tendered in the tender offer have been
converted into the right to receive $35.50 per share. Computershare Trust
Company, N.A., which is acting as paying agent for the merger, will mail
materials to non-tendering shareholders to be used to surrender certificates
for the merger consideration.
    Following the expiration of the initial offering period, MDS launched a
new business unit called MDS Analytical Technologies, combining the Molecular
Devices and MDS Sciex businesses to serve the most prestigious pharmaceutical,
biotechnology, government, and academic laboratory customers with innovative
solutions to improve the speed and efficacy of their drug discovery and
development efforts. MDS Sciex President, Andy Boorn, Ph.D. will lead the new
unit and will launch integration plans immediately to bring together two
businesses that had revenues of approximately US$432 million in 2006, and more
than 1,100 employees with over 250 scientists and engineers.
    With the completion of this acquisition, Molecular Devices' shares were
delisted from the NASDAQ Global Select Market and ceased trading at the close
of business yesterday.

    About MDS Inc.

    MDS Inc. (TSX: MDS; NYSE:   MDZ) is a global life sciences company that
provides market-leading products and services that our customers need 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 has more
than 6,200 highly skilled people in 28 countries. Find out more at or by calling 1-888-MDS-7222, 24 hours a day.

    About MDS Analytical Technologies

    MDS Analytical Technologies is the newly established MDS Inc. business
unit and is a world-class organization comprised of two main lines of
business. The Sciex product portfolio offers proven market leadership in mass
spectrometry through its joint ventures with two of the world's leading
analytical instrumentation and life sciences companies, Applied Biosystems, a
business of the Applera Corporation and PerkinElmer Inc. The Molecular Devices
product portfolio is the gold standard in high-performance bioanalytical
measurement systems that accelerate and improve drug discovery and other life
sciences research. Find out more at or


    This press release contains forward-looking statements. Some
forward-looking statements may be identified by words like "expects",
"anticipates", "plans", "intends", "indicates" or similar expressions. The
statements are not a guarantee of future performance and are inherently
subject to risks and uncertainties, including risks to both companies that the
acquisition of Molecular Devices will not be consummated as the transaction is
subject to certain closing conditions, if the transaction is consummated,
there will be risks and uncertainties related to MDS' ability to successfully
integrate the two companies. MDS' and Molecular Devices' actual results could
differ materially from those currently anticipated due to these risks and a
number of other factors, including, but not limited to, successful integration
of structural changes, including restructuring plans, acquisitions, technical
or manufacturing or distribution issues, the competitive environment for the
respective products of MDS and Molecular Devices, the development of new
products, the degree of market penetration of the respective products of MDS
and Molecular Devices, and other factors set forth in reports and other
documents filed by MDS and Molecular Devices with Canadian regulatory
authorities and the U.S. Securities and Exchange Commission from time to time.
Molecular Devices and MDS are under no obligation to (and expressly disclaim
any such obligation to) update or alter their forward-looking statements
whether as a result of new information, future events or otherwise.

For further information:

For further information: Investors: Sharon Mathers, Senior
Vice-President, Investor Relations and External Communications, MDS Inc.,
(416) 675-6777 x 34721,; Media: Catherine Melville,
Director, External Communications, MDS Inc., (416) 675-6777 x 32265,

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