PerkinElmer Files Notice Affecting Sale of MDS Analytical Technologies

The companies formed the joint venture, PerkinElmer Sciex, in 1986. MDS develops and manufactures the ELAN Series ICP-MS systems, which PerkinElmer markets and sells. According to MDS, the joint venture accounts for less than 10% of MDS Analytical Technologies’ annual revenue.

Toronto, Canada 12/11/09—MDS has announced that it has been served with a Notice of Application from PerkinElmer regarding MDS’s sale of its Analytical Technologies business to Danaher (see IBO 9/15/09). The sale requires the consent of PerkinElmer, with which MDS has a joint venture for the development and manufacturing of inductively coupled plasma–MS (ICP-MS) systems. PerkinElmer filed the Notice with the Ontario Superior Court of Justice, seeking alternative possible remedies including: court direction with respect to the development of protocols to enforce key provisions of the joint-venture agreement; an injunction to prevent enforcement of the provisions of the sale agreement, which provides MDS retain the joint venture; or an interim and permanent injunction preventing the sale. MDS stated that it intends to defend this claim and believes the sale will be completed in the first quarter of 2010. PerkinElmer issued no statement.

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