MDS completes sale of Central Labs and seeks buyers for Pharma Services
MDS, a Canadian life sciences company, has sold its Central Labs operations to Czura Thornton, a private investment group based in Jersey, Channel Islands for about US$8m. The purchase price may be increased by up to US$4m if certain performance thresholds are reached by Central Labs following completion.
MDS, a Canadian life sciences company, has sold its Central Labs operations to Czura Thornton, a private investment group based in Jersey, Channel Islands for about US$8m. The purchase price may be increased by up to US$4m if certain performance thresholds are reached by Central Labs following completion.
Central Labs, which employs more than 600 people at six sites in Europe, North America and Asia, provides late-stage laboratory services to global clients, including standardised assays, cardiac services, integrated data management, international laboratory study co-ordination and site support.
"The completion of this transaction supports the company's strategy to focus on its MDS Nordion business," said Stephen DeFalco, chief executive of MDS.
Toronto-based MDS has already agreed to sell its Analytical Technologies business to Danaher Corporation in Washington, DC for US$650m and is seeking buyers for its Pharma Services division, which provides drug discovery and early-stage development solutions for pharmaceutical and biotechnology companies.
Upon completion of these transactions, the company will focus solely on its MDS Nordion business, which provides medical isotopes for molecular and diagnostic imaging, radiotherapeutics and sterilisation technologies.