Danaher acquires MDS division for $1.1 billion
03 Sep 2009
US technological company with innovative products, Danaher Corporation has signed a deal to buy MDS Analytical Technologies, a division of MDS Inc, which includes a 50-per cent joint venture mass spectroscopy business, and a100-per cent ownership position in the former Molecular Devices Corporation, a bio research and analytical instrumentation company, for $650 million.
In a related development, Danaher also signed a definitive agreement with California-based Life Technologies Corporation, a global biotechnological tools company for acquiring the remaining 50 per cent stake in the joint venture with MDS for $450 million.
The aggregate purchase price for the combined transactions is $1.1 billion, including debt assumed and net of cash acquired, a press release said.
Ontario, Canada-based MDS Analytical Technologies is a leading designer and manufacturer of mass spectrometers-instruments used by researchers, developers, and analysts to study molecules-for use in the study of proteins, drug development, food and environmental safety testing etc.
The acquired businesses will become part of Danaher's Medical Technologies segment, and expected to shore up the company's revenues by more than $2 billion.
Danaher's president and CEO, Lawrence Culp said: ''We are excited about the opportunity to acquire two leading brands in the life sciences instrumentation market, which will complement our existing Medical Technologies businesses and present an attractive value creation opportunity.''
