MDS Inc.

MDS Inc. TSX: MDS NYSE: MDZ is an international health and life sciences company that provides products and services for the development of drugs and the management of disease.

MDS is headquartered in Toronto, Ontario, Canada and generates about 40% of its revenue from within Canada; it is the largest operator of clinical laboratories in Canada. The remainder of its revenue is generated in 23 other locations throughout the world, mostly in the U.S. and Europe. MDS generated $1.8 billion in revenues in the 2003 fiscal year.

Stephen DeFalco is the company's president and CEO.

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History

Founding

The company was founded by five former IBM employees on April 17, 1969. The company was originally named "Medical Data Sciences Limited" but the name was changed to "MDS Inc." in 1996. The company listed shares on the TSE in 1973 and on the NYSE in 2000.

Acquired Companies

• 1970 - Toronto Medical Laboratories
• 1981 - Sciex (global supplier of analytical instruments)
• 1991 - Nordion (world leader in supply of medical isotopes)
• 1995 - PanLab (pharmaceutical and biotechnology research)
• 1996 - Harris Laboratories and Neo-Pharm Laboratories
• 1998 - Theratronics (CDN manufacturer of cancer therapy machines)
• 1999 - LAB Pharmaceutical Research (Canada); Glarif Cerba (Europe); Helax/Precitron AB (Sweden)
• 2000 - Phoenix International Life Sciences (U.S.)
• 2007 - Molecular Devices

In September 2005, Stephen DeFalco was appointed as the new CEO, after John Rogers stepped down. DeFalco was appointed as COO in October 2004, and heir apparent; the new change in CEOs signals a new change in MDS, as DeFalco is the first CEO from the outside who likens his appointment as a similar situation to IBM and the change that company went through a year earlier with CEO Louis Gerstner.

Products

The company's products and services include:

1. pharmaceutical research and development services
2. radioisotopes used for nuclear medicine and for sterilization (from MAPLE Reactors at Chalk River Laboratories and from TRIUMF)
3. advanced analytical instruments based on mass spectrometry used primarily in drug development
4. laboratory testing services, the results of which are used by doctors to diagnose disease and plan medical treatment
5. distribution of medical supplies and equipment

A subsidiary company, MDS Proteomics, also conducts research in proteomics.

References and footnotes