Thermo Fisher Scientific said it will buy Phadia, an Uppsala, Sweden-based diagnostics company, from a private-equity firm for about $3.5 billion in cash.
Thermo Fisher to buy Swedish diagnostics company
Phadia, which reported $525 million in sales last year, makes blood-test systems to support the treatment of allergies, asthma and autoimmune diseases, according to a news release. Thermo Fisher is based in Waltham, Mass.
The private-equity firm, London-based Cinven, acquired Phadia in 2007.
“From a market perspective, Phadia has significant growth opportunities in the large, under-penetrated U.S. market, and can leverage our strong presence in emerging geographies to further accelerate growth,” said Thermo Fisher President and CEO Marc Casper in a written statement.
The deal is expected to close in the fourth quarter.
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