Nordion restructures business into two units, appoints board member
Sept 12 |
Sept 12 (Reuters) - Medical isotope provider Nordion Inc said it was reorganizing its business into two distinct units and appointed to its board Jeff Brown, chief executive of investment firm Brown Equity Partners Llc.
Nordion said its new unit, specialty isotopes, will comprise sterilization technologies and medical isotopes businesses. Its other unit will continue to be called targeted therapies.
The company, which is one of the world's leading producers of molybdenum-99 used in medical imaging, had said growth will be driven by the targeted therapies business, including liver cancer treatment TheraSphere.
Nordion said senior vice-presidents, Kevin Brooks and Peter Covitz, will leave the company.
The company had suspended its quarterly dividend earlier this month after an arbitration panel rejected its claim for damages from its main supplier.
Nordion's shares closed at C$6.87 on the Toronto Stock Exchange on Wednesday.
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