The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Tag Archives: Danaher

Monday Biotech Deal Review: February 15, 2010

A busy Monday Deal Review is headlined by Labopharm and ProMetric on the securities front, MDS’ final divestiture on the M&Eh front and Biovail and Bioniche on the licensing front, and there’s lots more activity behind those for over $100 million of deals.  Check out all the details (and the witty headlines) after the jump…

Monday Biotech Deal Review: February 1, 2010

Canadian biotech companies were busy making and closing deals this week, with $44 million raised, four new licensing and collaboration deals, and particularly big weeks for Ospens and the MDS/Dahaner transaction. Read more of this post

Monday Biotech Deal Review: December 14, 2009

In this week’s biotech deal review, some stimulus money finds its way to biotech, some M&A finds its way to shareholders’ votes, the NRC-BRI finds its way to two deals, and Patheon finds itself entering a new fiscal year a bit less burdened.  Even some securities may find their way into the market…

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Monday Biotech Deal Review: November 9, 2009

B&W_BigNickelSome closings, some new deals, some MDS and some PBM all in this week’s deal review.

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Monday Biotech Deal Review: October 25, 2009

B&W_BigNickelA very busy deal week coincided with a very busy work week (for those of us with day jobs), so allow me a particularly grateful thank-you to Jacob Cawker, who’s been an invaluable help with the Deal Review this and the last several weeks.  After the jump, licenses both inbound, outbound and just tied up (optioned); securities extended and accelerated (plus an actual common share offering, with the word “units” banished for one special week); and last but not least, a good volume of Canadian M&A (M&Eh?) from private to public to “just browsing.”  Read more of this post

MDS Files Proxy Circular for Sale of Analytical Technologies Business to Danaher

If you wanted more details of MDS’ deal to sell its analytical technologies business to Danaher, today is your lucky day.  The management proxy circular for the shareholders’ meeting to vote on the deal was filed on EDGAR and SEDAR.  Here’s a direct link to the EDGAR filing.

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Monday Biotech Deal Review: September 14, 2009

B&W_BigNickelThe Monday Deal Review is back in full force this week following a Labo(u)r Day vacation last week and there’s plenty of news including more information on the MDS-Danaher transaction and plenty of other companies finding ways to raise money and keep the lights on.  Keep reading after the jump…

MDS Selling Its Analytical Technologies Business for $650 million, Intends to Sell Pharma Services Business Next

Yesterday, MDS Inc. (TSX: MDS; NYSE: MDZ) signed an agreement to sell its “analytical technologies” business to Danaher Corporation (NYSE: DHR) for $650 million cash.  Two major shareholders, collectively holding 23%, have signed voting support agreements supporting the sale.  The shareholders meeting is planned for October, with closing later in Q4.  Assets include 1,100 employees operating in 10 countries. Danaher will also purchase part of a mass spectrometry joint-venture partnership from Life Technologies Corporation, each purchase conditional on the closing of the other.

MDS’ strategic review was triggered in part by the Chalk River reactor shut-down.  It is also putting its “pharma services” business on the block, and in July it closed the sale of its Phase I-IV services business. If the sale of analytical technologies and pharma services go through, only the isotope business will be left. 

MDS “intends to return approximately $400 million to $450 million of the sale proceeds to its shareholders” and will presumably aim for a similar outcome from the pharma services sale.

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