Thermo Fisher completes sales of two businesses
Sale of Athena Diagnostics and Lancaster Laboratories brings in US$940m
Thermo Fisher Scientific has completed the previously announced sales of its two laboratory-testing services businesses, Athena Diagnostics and Lancaster Laboratories, in two separate transactions, resulting in total proceeds of US$940m (€663m).
Athena Diagnostics has been sold to Quest Diagnostics for $740m (€522m). Based in Worcester, Mass., Athena Diagnostics is a leading reference laboratory that provides comprehensive diagnostic testing for neurological and other diseases. The business had approximately $110m (€77.6m) in revenues for full year 2010, has approximately 300 employees and was part of Thermo Fisher's specialty diagnostics business within its Analytical Technologies Segment.
Lancaster Laboratories has been sold to Eurofins Scientific SE for $200m (€141m), subject to a post-closing adjustment. Lancaster Laboratories, based in Lancaster, Pa., provides contract-testing services for pharmaceutical, biopharmaceutical and environmental sciences customers. The business had approximately $115m (€81m) in revenues for full year 2010, has approximately 1,100 employees at its operations in the US and Ireland, and was part of Thermo Fisher's biopharma services business within its Laboratory Products and Services Segment.
