Thermo Fisher Scientific Completes Sale to GE Healthcare

Thermo Fisher Scientific said Monday it has completed the sale of its HyClone sera and media cell culture, gene modulation and magnetic beads businesses to GE Healthcare. The transaction is valued at $1.1 billion.

The Waltham, Mass., devicemaker unloaded the businesses to address Federal Trade Commission concerns that its acquisition of Life Technologies Corporation, completed in February, would “substantially lessen competition” in the short/small interfering ribonucleic reagents, cell culture media and cell culture sera markets.

For GE, the acquisition expands the palette of tools, technologies and services used to discover and make new drugs, vaccines and diagnostics. It also adds new “start-to-finish” technologies that reduce time-to-market and improve product yields, said Kieran Murphy, president and CEO.

Thermo Fisher reported revenues of $250 million last year. — Lena Freund

Subscribe to Devices & Diagnostics Letter for complete coverage of the medical devices industry. Click here for more information.