MDS Announces Sale of Laboratory Operations in New York and Georgia to LabCorp(R)
16 Marzo 2004 - 2:01PM
PR Newswire (US)
MDS Announces Sale of Laboratory Operations in New York and Georgia
to LabCorp(R) TORONTO, March 16 /PRNewswire-FirstCall/ -- MDS
Diagnostic Services has sold its laboratory operations in
Poughkeepsie, NY and Atlanta, GA, to Laboratory Corporation of
America(R) Holdings (LabCorp(R)) in an asset purchase transaction,
effective March 15, 2004. Financial terms of the transaction have
not been disclosed. LabCorp immediately assumes responsibility for
these operations, including employees and facilities in both
locations, and will work with MDS to ensure a smooth transition for
customers and employees. "Late in 2003, we indicated that the US
laboratory business had not been meeting our performance
expectations. This sale is a necessary step in repositioning the US
laboratory business at MDS and will have a positive impact on our
operations going forward," said Cam Crawford, President, MDS
Diagnostic Services. The sale is a result of a comprehensive review
of MDS US laboratory operations and a resulting change in the US
laboratory strategy. This transaction does not affect its
joint-venture operations at the Memphis Pathology Laboratory (MPL)
and at Integrated Regional Laboratories (IRL) in Florida and its
relationship with the Duke UniversityHealth System Clinical
Laboratories. MDS Diagnostic Services is part of MDS Inc., an
international health and life sciences company (NYSE: MDZ; TSX:
MDS). At MDS Inc., more than 10,000 highly skilled people provide
enabling products and services for the development of drugs and the
diagnosis and management of disease. MDS focuses on helping
discover and test new drugs, assisting doctors to diagnose and
treat patients and preventing the spread of disease. Find out more
about MDS Inc. (TSX: MDS; NYSE:MDZ), at http://www.mdsintl.com/ or
by calling 1-888-MDS-7222, 24 hours a day. DATASOURCE: MDS
Diagnostic Services CONTACT: Sharon Mathers, Vice President,
Investor Relations, MDS Inc., (416) 675-6777 x 2695
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