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GE Buying Thermo Fisher Businesses for $1 Billion

Jan. 7, 2014

GE Healthcare is paying about $1.06 billion to acquire Thermo Fisher Scientific’s HyClone cell culture, gene modulation and magnetic beads businesses. The deal, announced Monday, is expected to close early this year.

GE described the HyClone lines as a “strong strategic fit” that will expand its offerings of new medicines, vaccines and diagnostics. “This deal makes a good business even better and will help us realize our vision of bringing better healthcare to more people at lower cost,” said GE Healthcare President and CEO John Dineen.

Waltham, Mass.-based Thermo Fisher said it was selling the units to help pave the way for European Commission approval of its pending acquisition of Life Technologies Corp. The Federal Trade Commission also has to approve the purchase, which Thermo Fisher hopes to complete early this year.

The three acquired business accounted for about $250 million in 2013, according to GE Healthcare. — Lena Freund

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