Thermo Fisher Scientific has completed the sale of its Anatomical Pathology business to Japanese company PHC Holdings (PHCHD) in a deal valued at approximately $1.14bn in cash.
The Anatomical Pathology business, which was part of Thermo Fisher’s Specialty Diagnostics Segment, generated around $350m in annual revenue.
Thermo Fisher signed a definitive agreement in January to divest its Anatomical Pathology business to the healthcare company PHC Holdings.
The Anatomical Pathology business will operate as a new stand-alone company named Epredia.
The new entity will continue to serve as a global comprehensive solutions provider in the anatomical pathology field, including microscope slides, instruments and consumables.
PHCHD president and CEO Michael Kloss said: “This acquisition is important for the PHCHD group, as we see significant growth potential in this business and opportunities for synergies with our existing business segments.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
“Across the world there is an increase in the need for cancer diagnostics, due to the rising incidence of cancers and greater demand for diagnostic examination in the emerging markets.”
The company will be able to bolster its diagnostics business by expanding its portfolio into oncology following the acquisition of the Epredia business from Thermo Fisher.
This will help PHCHD to support further business growth.
Epredia president James Post said: “Although we have a new name, our mission remains the same: to improve lives by enhancing cancer diagnostics for patients around the world.
“We are excited to now be Epredia, powered by the key brands our customers have come to appreciate for their excellence and precision, such as Erie, Menzel, Microm, Shandon, and Richard Allan.”