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25 Feb 2011

Thermo Fisher Announced Selling of Lancaster Labs & Athena Diagnostics

Thermo Fisher Scientific Inc. announced yesterday that it agreed to sell its Lancaster Laboratories and Athena Diagnostics businesses with a total of $940 million.

Thermo Fisher Scientific, Inc. has confirmed its selling of  Lancaster Laboratories and Athena Diagnostics businesses for a total of $940 million in cash. Both transactions are expected to close in 2Q11.

Eurofins Scientific SE will acquire Lancaster Laboratories for $200 million, subject to a post-closing adjustment. Lancaster, based in Lancaster, PA, is a contract testing lab that provides analytical services for pharmaceutical, biopharmaceutical and environmental sciences customers. The business had approximately $115 million in revenues in 2010 and employs 1,100 at its operations in the U.S. and Ireland.

Quest Diagnostics, Inc. will acquire Athena Diagnostics for $740 million. Athena, based in Worcester, MA is a reference lab that provides diagnostic testing for neurological and other diseases, with an emphasis on gene-

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