Thermo Fisher Scientific Inc. (NYSE:TMO) wants to sell off two of its lab-testing divisions and could fetch up to $1 billion.
The Waltham, Mass.-based lab instruments maker hired Goldman Sachs and Barclays Capital to handle the reported sales, according to Bloomberg
Goldman is looking after Athena Diagnostics, which could go for $600 to $700 million, while Barclays is handling Lancaster Labs, which could bring in $200-$300 million. The company is looking to focus more on equipment and less on services, according to Bloomberg.
In December, Thermo Fisher announced plans to buy Sunnyvale, Calif.-based laboratory equipment maker Dionex Corp. for $2.1 billion and Australian lab supplies provider Lomb Scientific for an undisclosed amount. Both acquisitions would widen the company’s footprint in Asia.
The news of the prospective lab-test unit sale sent the company’s stock up slightly today. TMO shares closed at $56.64, gaining 58 cents, or just over 1 percent for the day.