WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific (NYSE:TMO), the world leader in serving science, today announced that it has completed the sale of its cell culture (sera and media), gene modulation and magnetic beads businesses to GE Healthcare, a unit of General Electric Company (NYSE: GE), for $1.065 billion. The businesses will become part of GE Healthcare’s Life Sciences division.
The combined revenue of the three businesses was $250 million in 2013. Thermo Fisher committed to sell these businesses to address regulatory concerns related to its acquisition of Life Technologies Corporation, which was completed on February 3, 2014.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE:TMO) is the world leader in serving science, with revenues of $17 billion and 50,000 employees in 50 countries. 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 and increase laboratory productivity. Our four premier brands – Thermo Scientific, Life Technologies, Fisher Scientific and Unity Lab Services – offer an unmatched combination of innovative technologies, purchasing convenience and comprehensive support. For more information, please visit www.thermofisher.com.