MASSDEVICE ON CALL — The European Commission in Brussels cleared Thermo Fisher Scientific Inc.’s (NYSE:TMO) $3.5 billion cash buyout of Swedish blood test maker Phadia, finding that "the transaction would not raise competition concerns."
"After investigating the proposed transaction, the Commission determined that the parties are not close competitors and are currently primarily constrained by other competitors, which would continue to constrain the merged entity," according to a press release.
The acquisition, which was first announced in May, gives Thermo Fisher expanded reach in specialty diagnostics. Phadia supplies more than 70 percent of the world’s allergy laboratory tests and 40 percent of autoimmunity tests, according to a prepared release.
Phadia’s 1,500 global employees and approximately $525 million in revenue will be folded into Thermo Fisher’s specialty diagnostics unit.
In its quarterly earnings report, Thermo Fisher increased prior estimates for Phadia’s contribution to its bottom line, predicting a 7 cent bump for fiscal year 2011’s adjusted earnings per share from the merger. The Waltham, Mass.-based company also upped its full year adjusted EPS guidance to a new range of $4.15 to $4.25, which amounts to between 20 percent and 23 percent EPS growth compared to FY 2010.
Read MassDevice’s interview with Thermo Fisher CEO Marc Casper.
States plus D.C. defend individual insurance mandate
The individual insurance mandate in President Barack Obama’s health care reform bill, which has bounced back and forth between wins and losses in court, got a boost from 10 states and the District of Colombia, who filed briefs in support of the law, Law360.com reported (paid).
Imaging industry supports government efforts at preventing radiation exposure
The Medical Imaging & Technology Alliance gave efforts by the U.S. Joint Commission and others to protect patients from unnecessary medical radiation a thumbs up, according to a press release.
Vaccines mostly side-effect free
Immunizations don’t pose many side effects according to a meta-analysis of more than 1,000 studies conducted by the Institute of Medicine.
Is Google getting back into health records?
Just two months after shutting down Google Health, Google could be approaching online personal medical records from another angle with Google+, Xconomy reported.
Leave a Reply
You must be logged in to post a comment.