Thermo Fisher Selling Units for $940M
Waltham, MA-based Thermo Fisher Scientific (NYSE:TMO) says it has inked deals to sell its Athena Diagnostics and Lancaster Laboratories businesses for a total of $940 million in cash to boost shareholder value. Details about Thermo Fisher’s plans to sell the businesses were leaked to the press last month. Madison, NJ-based lab testing giant Quest Diagnostics has agreed to buy Athena, a Worcester, MA-based provider of gene tests for neurological and other diseases, for $740 million. Eurofins Scientific of Brussels, Belgium, is agreeing taking over Lancaster Labs, the Lancaster, PA-based business that offers contract testing and analysis services to pharmaceutical companies, for $200 million.