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MDS sells diagnostics business to Borealis Infrastructure Management for C$1.325 billion

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MDS Inc.

On February 26, 2007, MDS Inc., a global life sciences company, announced that it had completed the sale of its Canadian laboratory services business to Borealis Infrastructure Management Inc. in a $1.325 billion transaction. Borealis Infrastructure Management Inc. is an investment entity of Ontario Municipal Employees Retirement System, one of Canada's largest pension plans.

MDS was led by Ken Horton, Executive Vice President, Corporate Development and General Counsel, Rob Breckon, Senior Vice President, Corporate Development and William Chung, Director, Strategic Initiatives, Corporate Development and was advised by a team from Fasken Martineau comprised of Scott Conover, Tracy Hooey, Bruce Blain, Aaron Atkinson, Kevin Clinton, Kathleen Yoa and Dan Fabiano (corporate); Tony Baldanza (competition); John Beardwood, Andrew Nunes, Andrew Alleyne and Mark Penner (technology and intellectual property); Ralph Nero (labour and employment); Ross Gascho (pension and benefits); and Dan Law (real estate) in Toronto; and Peter Finley, Andrew Jackson and Prentice Durbin (corporate) in Vancouver.


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