GEN Exclusives

More »

GEN News Highlights

More »
Jan 29, 2007

MDS Offers to Acquire Molecular Devices for $615 Million

  • MDS will acquire Molecular Devices for $615 million in cash. By acquiring Molecular Devices, a provider of high-performance measurement tools for high-content screening, cellular analysis, and biochemical testing, MDS believes it will strengthen its position as one of the top global providers of life sciences solutions.

    Molecular Devices reported revenues of $185 million in the four quarters ending September 2006. Under the agreement, MDS offered to pay $35.50 per share of Molecular Devices’ common stock. This represents a 48.65% premium over Molecular Devices’ closing price of $23.88 on Friday.

    Headquartered in Sunnyvale, CA, Molecular Devices has an installed base of 100,000 instruments and markets its products globally through its sales and marketing offices in the U.S., England, Germany, South Korea, China, Japan, Australia, and Brazil.

    MDS plans to create a new business unit that will combine Molecular Devices and MDS Sciex. It will be led by current president of MDS Sciex, Andy Boorn, Ph.D. The combined organization will have more than 1,100 employees with over 250 scientists and engineers.

    MDS expects to close this transaction in the second calendar quarter of 2007. The company predicts that it will be modestly accretive in 2007 and will begin to be significantly accretive in 2008. MDS expects to realize cost synergies in the range of $10–$12 million primarily through the elimination of Molecular Devices' public company costs, related corporate infrastructure, and the opportunity to leverage significant capabilities across the combined global organization.


GEN Jobs powered by connects you directly to employers in pharma, biotech, and the life sciences. View 40 to 50 fresh job postings daily or search for employment opportunities including those in R&D, clinical research, QA/QC, biomanufacturing, and regulatory affairs.
More »

Be sure to take the GEN Poll

Easing Restrictions for Terminal Patients

Should the Federal Government Pass a “Right to Try” Bill Allowing Terminally Patients Access to Experimental Medicines?

More »