Thermo Fisher Scientific Signs Agreement to Sell its Anatomical Pathology Business
WALTHAM, Mass., Jan. 28, 2019 /PRNewswire/ -- Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, announced today that it has signed a definitive agreement to sell its Anatomical Pathology business to PHC Holdings Corporation, a global innovator in healthcare solutions, for approximately $1.14 billion in cash.
The Anatomical Pathology business is a provider of microscope slides, instruments and consumables. It has approximately 1,200 employees at locations in the U.S., Europe and China. The business generates approximately $350 million in annual revenue and is part of Thermo Fisher's Specialty Diagnostics Segment.
Thermo Fisher anticipates closing the transaction in the second quarter of 2019, subject to customary closing conditions and applicable regulatory approvals. The company expects the net dilution to 2019 adjusted earnings per share to be approximately $0.10, which will be incorporated into its 2019 financial guidance that will be provided on the January 30, 2019, earnings conference call.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving science, with revenues of more than $20 billion and approximately 70,000 employees globally. Our mission is to enable our customers to make the world healthier, cleaner and safer. We help our customers accelerate life sciences research, solve complex analytical challenges, improve patient diagnostics, deliver medicines to market and increase laboratory productivity. Through our premier brands – Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific and Unity Lab Services – we offer an unmatched combination of innovative technologies, purchasing convenience and comprehensive support. For more information, please visit www.thermofisher.com.
About PHC Holdings Corporation
Incorporated in 2014, PHC Holdings Corporation is a global healthcare company. Its subsidiaries include PHC Corporation and Ascensia Diabetes Care Holdings AG. The company develops, manufactures, sells and services medical equipment and solutions across diabetes care, diagnostics, life sciences and healthcare IT. PHC Holdings Corporation group's consolidated net sales in FY2017 was 192.6 billion yen with global distribution of products and services for more than 125 countries. PHC Holdings Corporation changed its name from Panasonic Healthcare Holdings Co., Ltd. in April 2018. For further information on PHC Holdings Corporation, please visit www.phchd.com
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