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Monday, January 28, 2013

Medical isotope maker Nordion explores alternatives, (NYSE: NDZ)

Canada's Nordion Inc, a major provider of isotopes used in medical imaging, said on Monday it hired advisers to examine options for its future, sending its shares sharply higher.Nordion suspended its dividend in September after an arbitration panel rejected its claim for damages from its main supplier, state-owned Atomic Energy of Canada Ltd, putting one of its core businesses in jeopardy.The company said no decision had been made on a deal and it intends to stay with planned business activities during the strategic review. Jefferies & Co will advise the company in the review.On a conference call with analysts and investors, Chief Executive Steve West said the review was in "early stages" and failed to comment further.

Nordion Inc. (Nordion), formerly MDS Inc. is a global life sciences company that provides products and services for the prevention, diagnosis and treatment of disease. Shares of NDZ traded higher by 10.02% or $0.64/share to $7.03. In the past year, the shares have traded as low as $5.51 and as high as $10.96. On average, 139495 shares of NDZ exchange hands on a given day and today's volume is recorded at 1160688.