TORONTO - MDS Inc said on Wednesday that Ricerca Biosciences would buy its business that provides clinical trial services to biotech and pharmaceutical companies for $45 million and certain minority equity interests.
The Toronto-based company said following this sale of its pharma services early-stage business, it will have completed its planned divestitures, allowing it to focus on its Nordion division -- a supplier of medical isotopes for molecular imaging, radiotherapeutics and sterilization technologies.
In September, the company announced plans to sell its analytical tools division to U.S.-based Danaher Corp (DHR.N) for $650 million.
MDS said the $45 million sale price for the pharma services business included a five-year $25 million note and $20 million in cash that will be adjusted for working capital and other items. (Reporting by Euan Rocha; Editing by Lisa Von Ahn)