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Business

MDS Sells Service Business To Ricerca

by Michael McCoy
February 15, 2010 | A version of this story appeared in Volume 88, Issue 7

MDS has agreed to sell its MDS Pharma Services early-stage drug development business in two pieces for a total of $45 million. Ricerca Biosciences, a drug discovery services company, will acquire MDS’s discovery and preclinical services operations. Bain Capital Ventures and SV Life Sciences, two private equity firms with ownership positions in Ricerca, will acquire MDS’s early-stage development operations. In total, the business employs 1,700 people at 10 sites. The sale does not include an early-stage development facility in Montreal, which will be closed, eliminating 225 jobs.

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