Waltham, MA-based Thermo Fisher Scientific (NYSE:[[ticker:TMO]]) says it has inked deals to sell its Athena Diagnostics and Lancaster Laboratories businesses for a total of $940 million in cash to boost shareholder value. Details about Thermo Fisher’s plans to sell the businesses were leaked to the press last month. Madison, NJ-based lab testing giant Quest Diagnostics has agreed to buy Athena, a Worcester, MA-based provider of gene tests for neurological and other diseases, for $740 million. Eurofins Scientific of Brussels, Belgium, is agreeing taking over Lancaster Labs, the Lancaster, PA-based business that offers contract testing and analysis services to pharmaceutical companies, for $200 million.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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