Name Change

Shareholders of MDS Inc. have approved a change of name from MDS Inc. to Nordion Inc. The company anticipates that the name change will be finalized in Q4 2010. As such, you will see references to both MDS Inc. and MDS Nordion on this website.

Strategic Repositioning Announced September 2009

The information in this section of the Website is accurate as of April 27, 2010

MDS recently completed a strategic repositioning which saw the Company divest its MDS Analytical Technologies and MDS Pharma Services businesses. The company is now focused on MDS Nordion, which is a leading provider of innovative technologies for use in medical imaging and radiotherapeutics, and sterilization technologies.

The repositioning of MDS resulted in the following activies:

March 30, 2010 - MDS Announces Preliminary Results of Share Buyback.

March 11, 2010 - A special resolution changing the name of MDS Inc. to Nordion Inc. was approved at the Annual and Special Meeting of Shareholders. Formal name change expected to take place Q3 2010.

March 8, 2010 - MDS Inc. completes the divestiture of its MDS Pharma Services Early Stage business.

February 19, 2010 - MDS announced that the Company intends to make a Substantial Issuer Bid, pursuant to which the Company will offer to repurchase for cancellation up to between 40% and 46% of its outstanding Common Shares for an aggregate purchase price of up to US$450 million. For more information, you can access the Substantial Issuer Bid information here.

February 10, 2010 - MDS also announced agreements to divest its remaining MDS Pharma Services Early Stage business.

January 8, 2010 - Appointed Steve West MDS Inc. Chief Executive Office; appointed Peter Dans Future Chief Financial Officer

November 2, 2009 - Finalized divestiture of MDS Pharma Services Central Labs Operation; completed exit from Late-Stage CRO Market.

October 20, 2009 - Held Special Meeting of Shareholders to Approve Sale of MDS Analytical Technologies to Danaher Corporation; more than 99% of the Common Shares voted were in favour of the sale.

October 9, 2009 - Reached agreement to Divest MDS Pharma Services Central Labs Operation to Czura Thornton.

September 16, 2009 - Announced Chief Executive Officer (CEO) Transition Plan; named MDS Nordion President Steve West as MDS Chief Operating Officer, future MDS CEO.

September 2, 2009 - Announced strategic repositioning; reached agreement to sell MDS Analytical Technolgoies to Danaher Corporation and announced intent to return $400 million-$450 million of sale proceeds to shareholders; declared intent to sell remaining MDS Pharma Services business.

Summary


Information on this site may contain Forward Looking Statements which have associated risks. Please see Terms of Use for additional detail.


Highlights

  • These decisions follow a comprehensive strategic review by a Special Committee of independent Directors working with Management and financial and legal advisors.
  • The MDS Inc. Board of Directors believes these actions are in the best interests of the Company and its shareholders.
  • To approve the sale of MDS Analytical Technologies, a Special Meeting of Shareholders was held on October 20, 2009. The sale was approved by in excess of 99% of the votes cast at the meeting. View the 2009 Management Proxy Circular.
  • MDS Inc. announced the completion of the divestiture of MDS Analytical Technologies to Danaher Corporation on February 1, 2010.
  • On February 10, 2010, MDS announced agreements to divest its remaining MDS Pharma Services Early Stage business. The transaction is expected to close within two months and is subect to customary approvals and closing conditions, including certain regulatory approvals and compliance with labor laws related to an operation in France.
  • MDS Nordion will continue to focus and build its core strengths and leadership position in providing medical isotopes for molecular and diagnostic imaging, radiotherapeutics and sterilization technologies.

 

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News Releases

Mar 30 - MDS Announces Preliminary Results of Share Buyback
Mar 08 - MDS Inc. Completes Divestiture of MDS Pharma Services Early Stage Business
Feb 19 - MDS Announces Substantial Issuer Bid
Feb 10 - MDS Announces Agreements to Divest MDS Pharma Services' Early Stage Business
Feb 01 - MDS Inc. Completes Divestiture of MDS Analytical Technologies
Jan 27 - MDS Receives U.S. Federal Trade Commission Provisional Regulatory Approval for Sale of MDS Analytical Technologies
Jan 25 - MDS Announces Resolution of Litigation Related to the Sale of MDS Analytical Technologies
Jan 08 - MDS Appoints Steve West MDS Inc. Chief Executive Officer
Nov 03 - MDS Inc. and Danaher Corporation Receive Second Request for Information from U.S. Federal Trade Commission for MDS Analytical Technologies Sale
Nov 02 -   MDS Inc. Completes Divestiture of Central Labs Operations
 Oct 20 -   MDS Inc. Announces Shareholder Approval of Sale of MDS Analytical Technologies
Oct 09 -   MDS Announces Agreement to Sell Central Labs Operation to Czura Thornton
Oct 08 -   Leading Proxy Advisory Firms Recommend that MDS Shareholders Vote for the Divestiture of MDS Analytical Technologies
Sept 17 - MDS Files Management Proxy Circular
Sept 17 - MDS Announces CEO Transition Plan
Sept 04 - MDS Announces Special Meeting of Shareholders and Record Date
Sept 02 - MDS Announces Voting Support Agreements
Sept 02 - MDS Announces Strategic Repositioning

Webcast (Oct 20, 2009)
Webcast (Sept 2, 2009)    Transcript (PDF)

Contact Information
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