Danaher Buys MDS Unit; Will Lay Off 3,300

WASHINGTON (TheStreet) -- Changes are underway for Danaher(DHR), the maker of tools and medical technology devices, as the company announced a series of acquisitions alongside expedited restructuring measures meant to eliminate 3,300 jobs.

Danaher said in a press release Wednesday that it signed deals to buy the life-sciences instrumentation entities from MDS(MDZ) and Life Technologies(LIFE).

The purchase price for the acquisition of MDS's Analytical Technologies unit -- which includes AB Sciex, a joint venture between MDS and Life, and the Molecular Devices Corp. -- will total $1.1 billion.

In a separate press release, Danaher also announced plans to speed up its restructuring activities for the year, with total costs now likely to land between $225 million to $250 million. Previously, the company said the restructuring effort in 2009 would total between $150 to $170 million.

Danaher said in total the restructuring effort would save $220 million annually by slashing some 3,300 jobs and 30 facilities.

--Written by Sung Moss in New York

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