MDS Completes Acquisition of Molecular Devices
28 Marzo 2007 - 2:00PM
PR Newswire (US)
TORONTO, March 28 /PRNewswire-FirstCall/ -- 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 Corporation. 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 http://www.mdsinc.com/ 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
http://www.mdssciex.com/ or http://www.moleculardevices.com/.
Disclaimers 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. DATASOURCE: MDS Inc.
CONTACT: 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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